I occasionally quote Atrios' pithy formulation, "The economy sucks and people don't have any money." It really explains a lot.
This chart reminds me of the exchange from The Sun Also Rises:
"How did you go bankrupt?"
"Two ways. Gradually, then suddenly."
Although to be fair, this chart shows that certain people have recovered quite nicely.
This might make some folks feel better. I know I do.
Posted by: Billy Jones | Jun 13, 2011 at 07:34 PM
That TPM chart is scary at first glance. It took me a while to decipher it. (All those extra zeros on the left axis didn't help.) It says workers' incomes are 96% of what they were six years ago, relative to national income--not good, but not quite as alarming as it seems at first glance.
Posted by: Preston Earle | Jun 13, 2011 at 08:31 PM
The secret on how to make a small fortune in the market-start with a large one.
Posted by: Kim | Jun 14, 2011 at 10:38 AM
>>"...the sector accounts for less than 10% of the value added in the economy”
Worth remembering, especially next time you don't can't get a loan. The financial sector seems to have figured out how to make loads of money without necessarily lending any of it to people who want to do things like buy houses and meet payroll.
Posted by: JustCorbly | Jun 14, 2011 at 06:58 PM