The “recovery” is two years old, unless you had something to recover from

Here’s an AP economics article that goes over some of the numbers for the “recovery” from the recession. Unsurprisingly, it turns out that most of the economic growth has gone to the richest portion of the population who make their income from capital gains. The government handed trillions of dollars to the financial sector, profits and stock prices went gangbusters, and the people who were already rich became even richer. Most people remained unemployed, underemployed, and suffered falling wages while prices for everyday necessities rose and social assistance programs were cut.

Ironically I saw this article yesterday shortly before I was laid off from my job of the last seven years as a software engineer. Some recovery, indeed. It only seems to be a recovery for those who never lost anything in the first place.

About American Socialist

History major turned engineer
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