From Bill Bonner – Bill Bonner Letter (United States) –
A few pictures… and then the end of the world as we have known it. Here, mostly for the benefit of new readers of these letters, let’s look at what has happened over the last half-century. That should set the stage; later, we’ll discuss another real problem with fake money. From the end of World War II until the mid-’70s, almost everyone in America got richer… Then, something changed. As you can see, after the ’70s, only some people got richer… The typical American man earns 29% less today than he did 40 years ago. But the top 1% has gotten much richer. What happened that would cause the rich to get so much richer?