Sunday, February 6, 2011

What's Wrong with the American Recovery?

These two graphs from the Calculated Risk blog make it obvious.

First, the economy has recovered fully to the levels it was at before the Great Recession:

Second, the personal income has not recovered. It has barely begun to rebound. So all that "growth" in the GDP was money flowing into corporations and the financial investments of the upper 1% of the population. The bottom 99% have yet to see any real "recovery":

Who is to blame for this? Well, Bush/Clinton for causing the Great Recession by allowing deregulation of the financial industry. But Bush/Obama get the nod for pushing trillion dollar legislation to allow Wall Street to recover but not Main Street.

It is amazing what a little lobbying money will buy you these days: literally trillions of dollars for some well-placed bribes to politicians!

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