Thanks to Reagan and the Conservatives

[What Would Jesus Do?]

Yeah. 20 million more illegals will sure help the economy. How about more double digit inflation. That will help. How about becoming more energy dependent. That will help. How about funding more wars. That will help.

Just a suggestion. Instead of using social media "look how clever and sarcastic I can be" language, maybe try using your civilized discussion voice?

 

[Finance85]

I wonder how much income and wealth mobility there has been since the mid 1980's.

 

[Tom Paris]

I wonder how much income and wealth mobility there has been since the mid 1980's.

CEO pay has increased by over 900% since then. Worker pay around 10%.

 

[TC Nole OX]

 

[TheCainer]

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So this happened starting in 1980?

If only we could pinpoint some major event that happened in 1980, we just might be able to understand what caused this vast disparity over the past 40+ years. If only. If only...............

 

[TC Nole OX]

 

[seminole97]

So this happened starting in 1980?

If only we could pinpoint some major event that happened in 1980, we just might be able to understand what caused this vast disparity over the past 40+ years. If only. If only...............

No, it ended in 1973.
It started in 1933 when FDR made the private holding of gold illegal, and introduced the first official devaluation of the dollar.
Bretton Woods agreement at the end of WW2 was another devaluation, but the U.S. retained an international redeemability of dollars for gold, and dollars became the international currency of trade.
As Johnson's guns and butter started running unsustainable deficits in the 60s the French called our bluff and started repatriating dollars for gold, knowing that we were cheating the system.
Nixon's response was to end redeemability entirely, and put the U.S. (and thereby world trade) on an entirely fiat currency.

The consequence is that the rich can borrow newly created money first, purchasing assets, while the poor and middle class get the short end of inflation - higher priced consumption.