How could there have been a recovery when half the country still suffers?
The median family income, after accounting for inflation, was $59,039 in 2016, little different than it was in 2000 ($58,544). During the same time, medical, childcare and college costs have ballooned.
B-b-but the banks and Wall Street are doing better…
…the next economic slump, whenever it occurs, could be particularly damaging. “Many Americans are still digging out from the recession,” he said. “Even a modest downturn is going to cause further harm to Americans’ personal finances.”
We had a modest downturn and the effects help fuel this survey. The next one won’t be so modest. This is the end result of an entire economy based on fake money, fake debt, financialized sorcery. For many (most), the only thing real is the losses and the suffering.