Wealth gap just keeps widening. Plus, record oil profits!

It’s funny how two independent stories published at the same time can bounce off each other.

Wage increases (2.5% over the past year) are at an all-time low while inflation continues to rise (3.3% over the past year). But even that’s misleading. The average is skewed because most of the wages being increased are at the top end. For folks under $21K per year, wages increased only 1.7%.

And the biggest reason wages have increased is actually in medical coverage (because of skyrocketing medical costs). So the difference between inflation and take-home pay is significantly greater.

On the flip side, Shell oil is expecting a historical record profit of almost $18 billion this year.

I wonder how proud this makes our soldiers over in Iraq...?