Some basics on the economy
Posted on September 4, 2012
Very good and very scary (that’s why it’s good, IMHO…) post by Ian Welsh on the economy. From the post:
2) the economy has still not recovered all lost jobs, either in absolute #s or as a percentage of the population
3) so there are fewer jobs, and what new jobs have been created are worse. They pay worse.
4) The upper middle class job market has recovered, which is why those folks are no longer panicking and are telling you that the economy isn’t so bad as all that.
5) the failure to force the rich to take their losses and to break up the banks means that the same people who caused the 2007/8 financial crisis still control the economy and the government.