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by dragonwriter
1425 days ago
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> Hey, remember back in 2009 or so when everyone was cheering that we were "out of" the Great Recession, but everyone not part of Wall Street was still bleeding? I also remember the whole expansion preceding the Great Recession, during which the bottom three quintiles all did worse, the second-to-top was basically flat, and most of the gains were in a narrow segment at the top of the top quintile. “Recession“ vs “expansion“ (multidimensional as it is) is still not, and not intended to be, the same as any individual person’s, or even the median person’s, experience of the economy. |
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