Sometimes a chart is worth a thousand words, and this is one. Real Median household income peaked way back in 1999 at $56,000 and by 2012 it was down 9%—an unprecedented decline. It goes without saying that Washington’s Keynesian ministrations on the money printing and national debt front didn’t much help. In fact, the Fed’s balance sheet has expanded from $450 billion  to $4.4 trillion during that period or by nearly 10X. Likewise, the national debt has nearly quadrupled  to $17 trillion during the same period. Well, all this monetary and fiscal profligacy did apparently help in one precinct: Namely, the Washington beltway where median household income reached its all-time high in … Continue reading Parasites Get Richer