Monday, December 17, 2007

This one goes up to 11

It's funny, if unintentionally so, that the newly Murdoched Wall Street Journal editorial page can boast in one editorial (subs. req'd) --

Over the past decade, millions of Americans have joined the once highly exclusive club of six- and seven-figure earners. Some 304,000 Americans earned $1 million or more in annual income in 2005, compared to 110,000 in 1996 and 176,000 in 2000.

but complain in the editorial below (also subs. req'd) that no-one seems to be noticing that inflation is rising so that dollar numbers don't mean quite what they used to. "Money illusion", they call it. Indeed.

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