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The Devastation Of America's Working Class

Friday, December 12, 2014 13:36

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ZeroHedge

After years of exposing, month after month, the truth about the US labor market – its conversion into a part-time (in 2010!), low-paying job market where Millennials refuse to work (as the job market reality is gruesome so instead they opt to load up on record amount of student loans) and where older Americans, instead of enjoying retirement are forced right back into the labor force leading to record numbers of workers over the age of 55 (thanks to ZIRP crushing the value of their savings and a refusing to participate in an HFT- and central-bank rigged stock market), the mainstream media, having grown tired of spinning the bullshit optimistic propaganda, has finally moved to the “tinfoil” side, and has done something it normally wouldn’t touch with a ten foot pole. Tell the truth.

Enter the NYT with a shocking dose of truthfulness, one which goes to show just one thing: how over the past decade, notwithstanding the tripling of the S&P from its post-Lehman lows on the back of $11 trillion in central bank liquidity, America’s working class has been not only skewed beyond recognition, but is now absolutely devastated. And all thanks to the Federal Reserve skewing the value of money so much that those who should be working aren’t, and those who should be retiring, are serving you Starbucks.

Here are the facts, long overdue but facts nonetheless, from the NYT:

Read more at ZeroHedge:

http://www.zerohedge.com/news/2014-12-12/devastation-americas-working-class

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