I have been waiting nine months for this stat to show up on Bloomberg. Far more than Real GDP, I think that Real Median Income is the quintessential barometer of the economic success of our democracy. By this measure, the American economy is miserably failing to increase the standard of living of most Americans. I doubt it is a coincidence that this began deteriorating shortly after China joined the WTO. Hopefully, this has troughed. More than ever, America needs an employment plan for the millions of low skilled workers displaced by globalization.
