Is This America's Biggest Problem... And Why It Wasn't Always Like This
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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Interesting. I've seen speculation elsewhere too that the departure from the gold standard was the biggest thing that caused the increasing gap between the rich and the poor that we've seen develop over the past 45 years and these charts show that quite well.