An interesting post from The Washington Monthly

“Riddle me this: if the Fed tries to put the brakes on wages every time they creep up from negative to zero, what will hourly wages look like over the long term?

“Answer: consistently down. Which is exactly what they’ve looked like over the past several decades.

“The overall economy is doing fine. Growth is strong, productivity is strong, corporate profits are strong, CEO compensation is stratospheric. There’s plenty of new wealth being created. The problem is that financial markets and the Federal Reserve are bound and determined to make sure that none of this new wealth makes its way into the hands of the middle class. That’s why, in our looking-glass world, a real wage decline of -0.2% is described as an increase.”

Yeah. The economy is great. Too bad the economy doesn’t sign paychecks and provide benefits, right?