Obama's Economic Recovery only for the top 5% of Americans | TigerDroppings.com

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dewster
Maryland Fan
Member since Aug 2006
9247 posts

Obama's Economic Recovery only for the top 5% of Americans



CNBC
By: Jeff Cox | Senior Writer
Full article at link: LINK

quote:

How strong the economic recovery has been since the Great Recession ended in 2009 probably depends on viewpoint. For those in the top 5 percent, the recovery has been pretty good.

As for the other 95 percent, well ... maybe not so much.


quote:

Huge leaps in the income and wealth of the top 5 percent mask the decline of income and wealth of the bottom 95 percent. Average all wealth and income and it appears that the economy is expanding to the benefit of all, when it fact only the top 5 percent have escaped the recession; the recession never ended for the bottom 95 percent.

quote:

An even better way to create an illusory expansion is to simply not measure trends that would reveal a deepening recession. For example, what percentage of student loans are purposefully taken out as a substitute for income, i.e. used to pay basic living expenses rather than education? Anecdotally, there is plentiful evidence that a great many people are signing up for one class at the local community college in order to get a student loan to live on.












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TerryDawg03
Georgia Fan
The Deep South
Member since Dec 2012
2037 posts

re: Obama's Economic Recovery only for the top 5% of Americans


Believable.





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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: Obama's Economic Recovery only for the top 5% of Americans


quote:

Finally, history has shown that highly accommodative monetary policy widens income disparity by awarding speculators and penalizing savers. While the S&P 500 is up nearly 150 percent since the March 2009 lows, that's most helped those heavily invested in stocks.


Yay for the jobless recovery!






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CptBengal
USA Fan
BR Baby
Member since Dec 2007
40911 posts

re: Obama's Economic Recovery only for the top 5% of Americans


"green shoots"





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Quentin Compson
LSU Fan
Member since Jun 2013
3117 posts

re: Obama's Economic Recovery only for the top 5% of Americans


And the dems answer to this is more progressive taxes.





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dewster
Maryland Fan
Member since Aug 2006
9247 posts

re: Obama's Economic Recovery only for the top 5% of Americans


It really seems as if some of his supporters are in an alternate universe.


This post was edited on 8/26 at 2:19 pm


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mtntiger
LSU Fan
Asheville, NC
Member since Oct 2003
9357 posts

re: Obama's Economic Recovery only for the top 5% of Americans


Makes sense, since my experience is that none of my middle to upper middle class friends are doing anything more than treading water.

This economy has been on life support for every year Big Ears has been in office.






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UncleFestersLegs
Columbia MD
Member since Nov 2010
1611 posts

re: Obama's Economic Recovery only for the top 5% of Americans


quote:

Recession ended in 2009






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Tigerlaff
LSU Fan
Member since Jan 2010
10347 posts

re: Obama's Economic Recovery only for the top 5% of Americans


Shhhhh!!! Look at Syria!!!!


--the neodems






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