Robert Reich: Whose Recovery?

[marmar]

Whose Recovery?
Friday, March 30, 2012


Luxury retailers are smiling. So are the owners of high-end restaurants, sellers of upscale cars, vacation planners, financial advisors, and personal coaches. For them and their customers and clients the recession is over. The recovery is now full speed.

But the rest of America isn’t enjoying an economic recovery. It’s still sick. Many Americans remain in critical condition.

The Commerce Department reported Thursday that the economy grew at a 3 percent annual rate last quarter (far better than the measly 1.8 percent third quarter growth). Personal income also jumped. Americans raked in over $13 trillion, $3.3 billion more than previously thought.

Yet it’s almost a certainly that all the gains went to the top 10 percent, and the lion’s share to the top 1 percent. Over a third of the gains went to 15,600 super-rich households in the top one-tenth of one percent. ................(more)

The complete piece is at: http://robertreich.org/post/20171217334

[xchrom]

1. Du rec. Nt

[longship]

2. How do we get the public to understand this?

That's a rhetorical question, since I don't believe for a sec that Dems will be able to successfully get this message out to the voters.
R&K

[SammyWinstonJack]

3. Well don't expect the one=percenters to speak of this, especially the pols who are among those

cashing in, including dems.

That is a job for OWS.

[truth2power]

4. No one I'm acquainted with has seen any sign of this so-called recovery...

Everyone is struggling, including myself. I ran into an acquaintance a few days ago. She said she's working at Walmart, making 7-something an hour. She and her son (she's a widow) are on food stamps.

Just another instance of Wally-World paying their employees starvation wages and letting the public sector take up the slack.