The numbers are in, the economic depression (I call it D2) that started in 2007 is still here and it’s getting worse.
This week’s numbers from the US Census Bureau show that the median household income slid another 1.5% in 2011.
That means that household incomes are 4.1% below what they were when the “recession” officially ended and 8.1% below what they were in 2007.
The news is actually worse than that. Median household wealth has dropped a massive 39% since 2007 and it’s showing no signs of recovery (see the chart below). In fact, household wealth today is so low, it’s 10% less than it was in 1983!
In short, any way you look at it, we are in a real, honest-to-goodness, economic depression.
An economic depression where almost everyone has suffered a significant drop in their standard of living. A standard of living that is still contracting despite claims to the contrary. At this rate of decline, the next big financial failure will take us all the way back to the living standards of post WW2 America.
So, the BIG question is: what are you going to do about it?
What are you going to do before the zombie banks, companies and sovereigns of this depression eat your job, your wealth and your home?
There is only one answer. Become resilient. Help your community to become resilient. Prosper together, no matter what happens to the global economic system.
So, stay with me folks.
Things are about to get really interesting and being cognizant of what needs to be done will be the difference between success and abject failure.
Your Guide to a Prosperous Life,
JOHN ROBB
