Sunday, August 25, 2013

Some "End"!

Trey Smith

The tough economy has pushed the average U.S. household income down even further than it was when the Great Recession ended, according to a recent report.

American households are earning 4.4 percent less, when adjusted for inflation, than they were when the economic recovery began four years ago, according to a report by Sentier Research.

In June, the median income clocked in at $52,098, down from the $54,478 earned in June 2009. That drop is even more drastic when compared against the average income of $55,480 that households earned in December 2007, when the recession began.
~ from Household Income Has Fallen 4.4% Since Recession's End, Report Finds by Shan Li ~
This percentage doesn't represent some strange anomaly. More than anything else, it merely underscores the economic focus of the political elite. When we were told that the latest recession had come to an end, all that meant is that profits on Wall Street were starting to go up again. As long as Wall street is in good shape, that's all that is worthy of anyone's attention.

Yes, the recession in terms of Main Street has not ended. In fact, it is deepening. But that's neither here nor there. It doesn't factor into any of the equations that matter.

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