So, if income falls faster AFTER a recession, what can we expect when the NEXT recession hits?
nyt...
just think back to all the glowing media reports about the end of the recession... HA...!
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Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials. During the recession — from December 2007 to June 2009 — household income fell 3.2 percent.
The finding helps explain why Americans’ attitudes toward the economy, the country’s direction and its political leaders have continued to sour even as the economy has been growing. Unhappiness and anger have come to dominate the political scene, including the early stages of the 2012 presidential campaign.
just think back to all the glowing media reports about the end of the recession... HA...!
Labels: 2012 election, depression, economic collapse, income gap, Occupy Wall Street, recession
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posted by profmarcus at
10/10/2011
