The inflation-adjusted household income for half the US population is back at 1989 levels. Meanwhile the S&P500, which impacts the net worth, confidence and spending habits of about 10% of the US population is six times higher than where it was in 1989. America has a problem.

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Of course, it doesn’t have to be like this, and in fact: it wasn’t.

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… and then Nixon took the US off the gold standard.

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