Don't seem to recall hearing any good jokes about this last night:
The U.S. economy has recovered for households with net worth of $500,000 or more, a new study shows. The recession continues for almost everyone else.Wealthy households boosted their net worth by 21.2 percent in the aftermath of the recession, according to the study released today by the Pew Research Center. The rest of America lost 4.9 percent of household wealth from 2009 to 2011.
No doubt the situation would be even worse were it not for the monthly money bombs our central bank has dropped to inject liquidity into the banking system, but four years on, all that cash isn't trickling its way down the foodchain, partly because too many people can't afford to borrow/spend the money and partly because many of our job creators are greedy rapacious bastards. Meanwhile, one political party wants to give the rich people even more money, and the other party wants to take it away from the poor, sick and elderly---and these are the only solutions we are being allowed to discuss, even though we know that as matters of policy, they are both terrible and cruel punch lines. So let's crank up the volume on the laugh track, and pretend that the worst of the recession is behind us---even though, actually, it isn't.
---Baron V
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