Writing at the Circle Bastiat, John P. Cochran provides some excellent analysis of median household data that provides empirical support for an Austrian interpretation of 1995-2012. As Cochran notes,
While one should always be careful using median income figures, the data is consistent with and can be best understood when combined with a capital-structure macro model of the economy.
He cites several recent articles by Roger Garrision, Frank Shostak, Adrian Ravier, and Joseph T. Salerno that bear this out. Cochran packs a lot into a relatively brief post that is well worth reading.