Criminal wage-fixing mastermind and illegal former Chairman of the Federal Reserve Bank of New York, Alan Greenspan.
Not hard to figure out: orchestrated supression of wages, via oversupply of the labor force due to Federal gov’t open borders mass immigration.
Increase the supply of something, the price of that something goes down.
Including labor.
In the 1990’s everyone had plenty of money – until the Fed stepped in and oversupplied the labor force by opening America’s borders to cheap foreign labor.
That + the ensuing increase in prices of everything, especially housing, means Americans earn less and have to pay more. Mass immigration drives wages down and prices up.
And that is just the way the Fed and bankers like it – since too much prosperity is bad for the loan business.
That combined with the H-1B industrial spy program means 20-30 million US jobs have been shipped offshore since 1998.
If the H-1B visa program was ended today, wages would soar like never before.
But the Fed won’t allow that since high wages are a threat to bank profits.
If Americans make too much money, they will pay off their loans and banks will be out of business.
All of this wage-fixing is illegal of course under Federal law, so the Fed makes up excuses such as “not enough qualified Americans”, etc.
All lies.
The criminal head of the Fed who started all this is none other than Alan Greenspan, who should be arrested for market tampering – a Federal crime.
The US econ, wages, and prices are all fixed from a Soviety-style central planning entity – the Federal Reserve. It sets interest rates, and wages, and prices – all via indirect manipulation.
Nothing free about this market.
https://www.zerohedge.com/economics/why-americans-dont-have-any-savings