Sheila Bair’s Graph Of The Year: For Many Americans, There’s Been No Recovery At All - WaPO

[WillyT]

Sheila Bair’s graph of the year: For many Americans, there’s been no recovery at all
By Wonkblog/WaPo
December 30 at 11:03 am



<snip>

This chart, drawn from a report by the Sentier Research Group, shows that for a large number of American households, there has been no economic recovery. Caught in a vice of chronic unemployment and falling wages, real median household income (excluding capital gains and losses but including cash government benefits) has declined 4.4% since the “recovery” began in 2009. For many households, the drop has been more severe. For African-American households, it is 10.9%. For those under 25 years old, it is 9.6%. For single females with children, it is 7.5%. Indeed, the only households to experience an increase in real income are those 65 to 74 years old.

So as the investor class celebrates the stock market’s bubbly 25% gain in 2013 courtesy of quantitative easing, let’s not forget the plight of those Americans who work for a living. And in 2014, let’s face up to the ineffectiveness of monetary policy to help them and the desperate need for fiscal leadership to generate real, sustainable growth.

<snip>

Link: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/30/sheila-bairs-graph-of-the-year-for-many-americans-theres-been-no-recovery-at-all/

[jwirr]

1. That includes of course the ones who got their food stamps cut, their energy assistance cut etc. If

anything it got worse for us.

[Laelth]

2. There has certainly been no recovery for me and my family. n/t

-Laelth

[Hotler]

3. I have no hope. I see no future. n/t

[Demeter]

4. You just say that to make us feel better

Wishing you a happier new year, Hotler!

I got a feeling it will. What cannot continue, will not continue...

[woo me with science]

5. It is by design and by deliberate, bipartisan legislation.

Corporate authoritarian state: These things do not happen by accident.

bvar22: "These things do not happen by accident."
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=3199941

[raouldukelives]

7. They take a lot of work, money and cooperation.

Every dollar in the markets is a vote for more of the same and many Americans secretly love to vote against the poor, the dispossessed, the environment & wildlife. How nice for them they can do it from the comfort of a climate controlled high rise while those of us on the fringes are left to watch it all burn for their short term gain.

[DallasNE]

6. "Ineffectiveness Of Monetary Policy"?????

Yes, the Fed has gotten a little exotic with policy but it has had the intended effect so I see little to criticize regarding monetary policy. But I do agree about "the desperate need for fiscal leadership" and that covers the gamut, from taxes to trade and everything in between but when everything just dies in the House the prospects are dim to nonexistent. Even if the Democrats win back control of the House in 2014 the prospects are still pretty dim because the Democrats will not have the super majority in the Senate to end the epidemic of filibusters in the Senate.

[daleanime]

8. K&R....

[madisongrace]

9. Sheila Bair is one of the insiders that seems to have EMPATHY!

... or guilt...