Monday, June 18, 2012

Some are happy with the status quo


From a recent post at Asymptosis:

Recessions Are Nature’s Way of Keeping the Little Guy Down


Here’s a picture...


The well-off have done fine. In the greatest economic downturn in eighty years, their median net worth went up.

That red line there, the one that goes up, that shows income of the top 10%.


Reminds me of my definition of recession:

A recession is a time when fewer people do well.

3 comments:

Jazzbumpa said...

I believe the classical definitions run along these lines.

A recession happens when your neighbor is out of work.

A depression happens when you are out of work.

Alas,
JzV

Jazzbumpa said...

Lovely

A typo in my signoff

Arrgghhh
JzB

The Arthurian said...

Well, at least you check your work :)