Friday, August 26, 2011

"It was the best of times, it was the worst of times..."

To be clear, it was best if you're reliant on portfolio, worst if you're reliant on a paycheck.  Yet another view of income inequality in America.

Source: BEA (via Jared Bernstein)
Jared Bernstein:
You can also see in these data the resurgence of income and wealth inequality. There’s quite a lag to the inequality data, so no one knows what the trends in income or wealth disparities look like post-2008, e.g. What with high unemployment and weak middle-class earnings, along with solid corporate profits, one assumes that after taking a hit in the downturn, wealth accumulation is “back on track” as it were. That’s certainly been the pattern of the last two recessions/recoveries.

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