The Recession Is Over - Or Is It?

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Pew Research just released some interesting statistics showing how the US economy has rebounded from the Great Recession.

Clearly, this demonstrates that all is once again well in in The Land Of Opportunity....



Here is an illustration by Pew of the development in income from 2009 to 2011 by income percentile. And through the Pew link (see below) I managed to find some statistics from the Federal Reserve showing a similar pattern:



The income disparity in the recovery is evident by the discrepancy between the median income (which displays the income of the middle person in the income distribution) and the mean income, which computes the average income. The latter does not take into account income inequality. Or, as the Federal Reserve notes:

Furthermore, here is a detailed breakdown of the development since 2010 by demographic category:



Sources:
http://www.pewresearch.org/fact-tank/20 ... t-the-top/
http://www.federalreserve.gov/pubs/bull ... /scf14.pdf (page 1-3 and 9)

Please discuss.

Not for Detroit.

Other. I'd say that a lot of Americans took the good times during Clinton (time to face the facts: he deserved that blowjob) for granted. Compared to Iceland, Greece, Finland, the Netherlands, or Italy, the US seems to be doing quite well.

It's recovering, but it's definately not like it was 10 years ago, or like it was during the late 1990's.

Our economy is not robust.

We may have shot our wad. We may becoming immune to neo-Keynsian remedies.

What we need is a real shot in the arm -- new inventions new technology.

How about controlled nuclear fusion (don't hold your breath) and quantum computing.

ruveyn

The American economy all dressed up and looking sharp with its massive borrowing and low lending rates.

Who will tell the king he has no clothes on?

I wouldn't hold my breath over quantum computing, either.

We're still basically doing the same thing now 'after' the recession that we were doing before. --Nothing really has changed, credit and sales industries are still commission based.

At first glance I thought it said the resurrection is over.

Being for all intents and purposes hopelessly unemployable, the state of the economy means jack s**t to me. May as well still be 2008. It makes me angry seeing this pretentious glurge over the economic recovery, because I won't see one penny of benefit from any of it.

Is household net worth an indicating factor, and has it really increased? Could the economy be recovering even if the aforementioned premises are wrong? Some would argue that the lowering of American wages by means of monetary inflation has increased international competitiveness, thus strenghtened the economy.

http://pricedingold.com/networth/
http://pricedingold.com/us-wages/

If the Fed reports 2% inflation, and it's really 6%, then "household net worth" will appear to be up 4%. The Fed can make Americans look prosperous.

As long as it keeps the unions at bay...

I'll let you know once people with disabilities find it fairly easy to find gainful employment.

This doesn't happen in a bad economy because employers don't have to settle for disabled workers when there's a multitude of able-bodied workers to choose from.

Every job in my area is largely a crap job with fairly low wages. The "good" jobs are few and far between....even if a lot of people are working and managing to pay their bills.

Conservative extremist are never going to give Obama credit for what he is doing for the economy, despite the right wing effort to sabotage the economy.

http://www.forbes.com/sites/adamhartung ... president/

/\ If he has actually done anything noteworthy for the economy thanks from the "conservative extremists " will be irrelevant. Just occupying the white house and spending more money while economic recovery occurs incidentally doesn't necessarily give him credit for anything.

Money well spent.