America's middle class is being systematically eviscerated.  When the Federal Reserve pumped trillions of dollars into the financial system during the pandemic, most Americans didn't realize what that would do to them.  That money certainly made the wealthy a whole lot wealthier, but it also dramatically increased the cost of living for the rest of us.  So now inflation has been rising much faster than paychecks have, and the cost of living has become exceedingly oppressive.  In fact, last year we witnessed the largest decline in real median household income in more than a decade…

The official tally is in and it is brutal: Americans suffered the biggest drop in household income in 2022 in a dozen years.

Real median household income was $74,580 in 2022, a drop of 2.3 percent from the prior year, the Census Bureau said Tuesday.

This is the biggest drop in household income since 2010, when it household income fell 2.6 percent. That means it is worse than the pandemic decline of 2.2 percent. It is the fourth worst year in records going back to 1985.

In 2010, the U.S. economy was just coming out of the horrible recession that we had just experienced in 2008 and 2009.

Those were not fun times.

And the times that we are moving into will not be fun either.

We are being told that "high inflation" is the primary reason why real median household income is falling…

The declines were driven by high inflation. The measure of inflation that is used to calculate real income rose 7.8 percent, the worst inflation since 1981.