Since the financial crisis in 2008, CEO salaries are up an astounding 181%.
The median pay package for the CEO of a large company is now north of $10 million.
And if you think that’s ridiculous, wait until you see how much CEOs at the banks are making…
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Yet MarketWatch reports that they pulled in a combined $96.1 million in 2013.
Brian Moynihan, CEO of BAC, racked up a cool $13 million alone. And he was the lowest-paid of the bunch!
So with CEO salaries now blasting beyond pre-crisis levels, it must mean the economy is booming, right?
Tell that to the average U.S. worker…
Fighting to Stay Afloat
Consider that the average U.S. salary increased just 1.3% last year.
According to the Bureau of Labor Statistics (BLS), wages for the average work week in the United States are $820, still below the peak set in 2006.
And the average CEO is now making 257 times what a standard worker in the United States pulls in, according to analysis by The Associated Press and Equilar.
Josh Boak at The Associated Press points out one reason for the disconnect…
You see, as unemployment rages on – currently at 6.3% – companies aren’t as afraid of losing solid employees. That means they’re not giving out as many raises.
Of course, that also means there’s more money to add to the CEO’s paycheck. And we all know the gap is only going to widen from here…
Yet that’s not the only thing the average U.S. worker needs to worry about right now.
Inflation is rearing its ugly head, and it’s making that measly paycheck look even tinier by the day…
The Frightening Truth
I’m going to shoot right from the hip and say that the BLS is doctoring inflation numbers.
Back in 1962, my father was fortunate to make $165 a week. And we lived the American dream on that income.
Based on the government’s own BLS inflation gauge, that would equate to about $1,308 a week today.
Now, I studied economics under the great Austrian Economist, Hans Sennholz. And he taught us to calculate the real rate of inflation based on the price of gold.
Using his logic, my father would have been paid 4.71 ounces of gold a week in wages in 1962.
Today, those 4.71 ounces of gold are equal to $5,925 a week.
This far outstrips the $1,308 a week the government says my father would have made today.
Indeed, reliable economists believe that inflation is running more than double the government’s official numbers.
In other words, the government is cooking the books.
We all want to feel better when we get a raise, but Americans in general aren’t even treading water. If anything, the middle class is getting poorer.
Bottom line: The government uses inflation to rob each and every citizen – rich and poor. Every year the money we earn is worth less and less.
To fight back, it’s important to invest in appreciating assets – like stocks, real estate and precious metals – that have a hope of keeping up.
On the flip side, investing in government bonds and paper with low fixed rates of return is a recipe for financial suicide.
Your eyes on the Hill,