Wages stopped going up in 1973. Yes, that's right - '73. If you want to know what month, it was January, which means they almost stopped going up in '72. Had they continued to go up as they should have, the average wage would be about $90,000 a year.
So what happened?
First, immigration policies were liberalized in 1965, allowing tens of millions of 85 IQ immigrants into the U.S. This did not add productive capacity to the country; it damaged it. Severely. Many of these immigrants went straight onto welfare. They still do. In fact, the government encourages them to do so.
Contrary to the delusions of pseudo-libertarians, open borders are not free market. The only reason our borders are so porous is because large corporations (which I call Cosmodemonic Transnational Megacorporations) want cheap labor. The behemoth known as the federal government is trying to overrule the desires of the states, counties, cities, neighborhoods and people.
Second, Richard Nixon went off of the gold standard in 1971, allowing the thoroughly unconstitutional Federal Reserve Bank to inflate without any brakes, since the paper dollar was completely unhooked from gold. Since the creation of that bank, the dollar has lost about 98% of its value.
The Federal Reserve Bank is not federal, had no reserves, and is not a bank. It is a legal counterfeiter that has seized control of our money supply, allowing it to print money to its heart's content.
The Constitution clearly states only gold and silver can be money. For that matter, it forbids "Bills of Credit" (another name for "paper money").
Contrary to the delusions of the half-educated and quarter-witted, the Founding Fathers knew what they were doing.
Things didn't get all that bad with inflation until Alan Greenspan (whom I've heard described as the "biggest asshole in the universe") became head of the Fed and spent 20 years destroying the dollar. Bernanke, another high-IQ idiot, is completing the task.
One of the things inflation does is transfer money from everyone to the wealthy, since the wealthy get the inflated money first and can buy everything first. Those who get the money last can't buy much of anything, except maybe potatoes and rice.
I've heard the super-rich referred to as the "extractive elites" and that's exactly what they are. Today they are commonly referred to as the 1% that exploits the 99%. It's an oversimplification, but not that much.
When these extractive elites are not punished, as they are not being punished today, that is a sign the country is on its way to collapse.
Another thing that happened about 1974 is the oil crisis, caused by the oil nations in the Mideast conspiring against us for supporting Israel.
Unbelievable. We cut our throats supporting a country that slaughtered our sailors during its attack on the Liberty, then refused to admit it, although they paid a pittance to their victims.
As an aside, the traitor father of the traitor John McCain helped to cover up that attack.
Since those days, we have sent trillions of dollars to our enemies in the Mideast for their oil. That money should have stayed here and added to our productive capacity, resulting in higher wages.
There is also a huge problem with Affirmative Action, which means "White Men Need Not Apply." To give on example (out of, say, millions) I knew a guy who loved the law and wanted to teach it. The dean told him not to bother since he was white and stood no chance of ever teaching the law in a university. I can, of course, tell other personal stories about the same phenomena.
I've personally seen several incompetent women promoted into positions for which they were unqualified. So have my friends.
Back in the '50s the annual growth rate was about 4% a year. Now we are down to an anemic 2.25%, and possibly even less than that, since the government lies about everything. This loss of productivity is due to government crushing the economy with inflation, regulations, destructive laws, etc.
When men aren't making the money they deserve, families will suffer.
Marriage rates, which obviously are a indicator of the formation of families, has fallen to an all-time low. The U.S. leads the world in divorce, and about a third of all children live in a home without a father. Many people who would like to get married and have children are not able to get the kinds of jobs that they need to support a family.
Had we maintained a '50s growth rate of 4% that alone would have made the average salary about $90,000 year. Take away the rest of the crushing burdens, and I've seen some economists estimate it would be about $100,000 a year.
We've also sent trillions of dollars to our enemies in China, hollowing out our industry. Those who think this is a good thing do not understand basic economics.
What all of this means is that if someone cannot make a decent living these days, it is not their fault, no matter what the chattering classes say. Certainly many intelligent people can make a good living -- those with IQs of about 120, which is less than ten percent of the population.
The average IQ is 100. People with such IQs aren't even going to be high school graduates. They are going to be janitors with welfare benefits.
I've known intelligent, educated men who have said, "The hell with this." They see no reason to work their butts off and get very little for it. I know some who have become security guards so they can go to work, come home, do what they want, and not have to worry about working 50 hours a week.
I've know others who made good money, worked ten hours a day, with a two-hour round trip - and said the hell with that, too. So they got lower-paying jobs with no stress.
I believe some sort of collapse is not all that far away. All you have to do is look what is happening with those in this country who have reverted to barbarism.
This is not the same country it used to be. Not even close.
Bill Bryson has written a book, The Life and Times of the Thunderbolt Kid, about his growing up in Des Moines, Iowa during the '50s. I didn't recognize the country he wrote about. It didn't merely sound wonderful -- it was wonderful. And, again, this was when the growth rate was 4%.
Bryson ended the book with these lines: "What a wonderful world it was. We won’t see its like again, I’m afraid."
For that matter, think about what California was during the early '60s. Annette and Frankie and and beach parties, followed by the Beach Boys and their hot rods. The state used to be the American Dream.
Now it's the American nightmare, swollen with Third World immigrants. Everyone who can afford it is leaving the state. And we've got Paris Hilton and Britney Spears instead of Frankie and Annette.
This downhill slide cannot continue. There will be an economic collapse, as has always happened in the past. The only question is when.
As economist Joseph E. Stiglitz explained:
"The top one percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top one percent eventually do learn. Too late."