$6,523,476,959,955Lost National Income since the Financial Crisis of 2008.
We have a modern epidemic of unemployed and underemployed workers in the United States.
Since the 2008 financial crisis, the labor market has reached a tipping point, and the middle class has received its final blow.
Every time there's a business with machines or facilities idle due to low sales, or a worker unable to find a way to contribute, it's money being lost and wasted in our economy.
This untapped production from unemployed workers and unused facilities will never come back.
You can't go into a time machine and fix the misery caused over the years by unaddressed economic strife.
You can't put together families torn apart by broken careers and home foreclosures.
The pain can't be undone.
If you are unemployed, seeking work and unable to find adequate fulfillment, or you're a business owner with sluggish sales and idle capital, it is not your fault.
Deregulatory policies and dismantling of public isntitutions under Ronald Reagan and Bill Clinton paved the way for a series of financial crises.
Bankers got drunk off cheap money from Fed chair Alan Greenspan, until they couldn't handle the debt load and risk and collapsed.
And once it popped, they used tax payer money to bail out the large financial institutions, with trillions in guarantees, loans, and equity purchases.
All this in the backdrop of decades of working Americans being shafted by free trade agreements and destruction of collective bargaining.
The result was a credit market and economy in shambles, and a government unwilling to plug the aggregate demand hole adequately with New Deal style public expenditures.
But we can reverse the bad policy which led to the crisis and do something about the unnecessary future pain.
We need a large, $1.1 Trillion government stimulus jobs-directed spending program NOW.
For a detailed 20-page run-down of the nature of our current woes and the fix, click here.
This missed production/income, if spread evenly across all working Americans, amounts to lost accumulation of wealth per working American of:
$41,952The same issue is occurring in the UK right now.