Americans' wealth is neither keeping up with inflation nor global growth. The shifting wealth trend is discussed in depth and using GDP per person data in the Economist magazine. Comparing inflation statistics with personal income growth data below demonstrates declining wealth in the U.S.. To make things worse, The Jarkarta Globe quotes a Merrill Lynch Economist as saying "we will have to deal with a sharp slowdown" in reference to Asian economies.
• BLS reports 4.8 percent '09-'10 drop in consumer expenditures
• 1Q and 2Q revised annualized GDP .7 percent per the BEA
• BEA: State personal income growth 1.1 percent in 2Q 2011
• 12 month consumer price increases 3.8 percent per the BLS
Moneycation also reported yesterday data released by the Federal Reserve Bank of Chicago showed national economic activity has turned negative. About a week ago the Federal Reserve Bank Board of Governors stated a significant economic slowdown was being observed. Zero Hedge also shed on light an untypically candid or uncensured opinion of a trader interviewed on BBC. The video is worth watching even if only for its uniqueness
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