I was reading along, minding my own business, when I came across this USAToday item about how Americans have come to expect that they won’t be in any better financial situation next year. Near the bottom is buried this little gem, emphasis mine:
A typical recovery pattern goes like this: stock market bottoms, economic growth bottoms and then hiring and wage increases return. What’s unique and scary about this recovery is that the last piece of the recovery is not there.
The author goes on to talk about how weak job creation has been throughout this “recovery”. It’s almost like he was thinking of this chart from Calculated Risk:
Now let’s keep in mind the various bits of financial news we’ve had this week: there were only 54,000 jobs created in May, barely enough to employ a third of the people new to the job market; housing prices are officially in a “double dip“; major stock market indexes are down for the 5th week in a row; 45 banks have failed this year, and almost a thousand more are in trouble; certain forces in government are talking about severe austerity that would cripple job growth and throw millions of people into poverty and disease, despite the contrary wishes of the American people.
Now tell me, where exactly do we get the idea that despite all this, we are actually in some sort of “recovery”? Only if you measure corporate profits without any regard for Human-Americans do we have anything of the sort.
In closing: history for sale; Roman fishing vessel may have had a live storage tank; sluts must be punished; at least they admit that meat isn’t the only source of protein (I also like the emphasis on fruits and veggies over grains); damned liberal facts!; truth isn’t what the media wants you to believe; I don’t quote the good professor enough; depressing; 3rd grade; 60 small changes; HA! Manager comes up with a check fast when the moving truck and sheriff’s deputies show up!; turns out that physical activity is good for kids (who knew???); and the War On Drugs is officially a FAILURE.