Corporate profits bounced back impressively since 2009, but between June 2009 and June 2011, real household median income fell 6.7 percent.
When you read things like this, is it really so surprising that people are marching in the streets? The economy is recovering slowly, but with weak job growth and hard credit it’s only helping those that were already doing ok.
What I’m really afraid of is that this is still too positive for the opposition and we’re due for another debt-ceiling-like event to shake confidence.
I’m writing to let you know I’m quitting you. For 10 years watching every morning I’ve let you get away with a lot of stuff, but this is too much. This was two hour long commercial for a political agenda. Letting someone say that we’re frozen by ‘regulatory activism’ when we’re coming out of a crisis of regulatory failure, talking about our ‘debt crisis’ when our financing costs are at historical lows, calling debate about a joke of a budget demagoguery , I could go on and on.
I’m not sure what I’ll watch instead but there’s got to be something better.
Frankly, I’m not sure how wonkish the debate about this article is, but it’s both hilarious and disturbing. The fact that our press, the people who are supposed to keep us safe from abuse, can’t even understand first-year concepts makes me fear for the future. This from a source that isn’t supposed to be biased and claims some knowledge of the subject (Business and Economics Editor). From the mainstream source of The Letter from Birmingham Jail.
And the best part is that she continues to be wrong in the comments of this story. Very, very wrong. Treating savings like it only counts if you have a passbook, not as an economic concept that can be positive or negative… that’s what the average person on the street would do, but it’s no way to lead a technical debate.
It’s not supposed to be about politics in a crisis like this, but getting us out of this means that we frame the debate a certain way, and that is politics. His turning attention to people doing the right thing, and asking that we do the right thing, rather than distracting us with some sort of feel good circus (not to take anything away from Sullenberger et al) makes me think we might have a chance.