The American Anger Chart

On "Single Best Chart," Bloomberg's Tom Keene looks at a chart showing U.S. median real household income. Westwood Capital Managing Partner Dan Alpert and Nomura Head of U.S. Rates Strategy George Goncalves also speak on "Bloomberg Surveillance." Broadly speaking, in the 1970s, 1980s and 1990s, we see median real household incoming rising.  After 2000, however, things changed and incomes began to not just stagnate, but decline.  Alpert says, "You can't introduce 3 billion new people to the global economy and expect not to lose some income potential on the part of established economies."  George Concalves concurs and posits, "We've been in this deflationary backdrop for the last ten years.  And I think today is Groundhog Day. We've had Groundhog Decade...of no earnings on the household side."