Something's Deeply Wrong In The American Economyby Jamie Dimon, Chairman and CEO of banking giant JPMorgan Chase
as
conveyed by StreetAuthority's Brad Briggs
https://www.streetauthority.com/growth-investing/somethings-deeply-wrong-american-economy-30701405?utm_source=NL-SAD&utm_medium=EMAIL&U=1262133&utm_campaign=SAD_Somethings_Deeply_Wrong_In_The_American_ Excerpts:
"-- Our economy has been growing much more slowly in the last decade
or two than in the 50 years before then. From 1948 to 2000, real per capita
GDP grew 2.3%; from 2000 to 2016, it grew 1%. U.S. productivity growth
tells much the same story.
-- This lower growth has been accompanied by -- and may be one of the
reasons why-- real median household incomes in 2015 were actually
2.5% lower than they were in 1999. In addition, the percentage of middle
class households has actually shrunk over time.
-- Over the last 16 years, we have spent trillions of dollars on wars when
we could have been investing that money productively. (I'm not saying
that money didn't need to be spent; but every dollar spent on battle is a
dollar that can't be put to use elsewhere.)
-- Since 2010, when the government took over student lending, direct
government lending to students has gone from approximately $200 billion
to more than $900 billion -- creating dramatically increased student
defaults and a population that is rightfully angry about how much money
they owe, particularly since it reduces their ability to get other credit."