« previous | TPM CAFÉ READER POSTS HOME | next »
The Real Financial Crisis
Isn't the larger story, the deep background, something like:
1.
The median wage hasn't kept up with the median home price, or anything
else, for 30 years, because the benefits of economic growth have pretty
much (aside from a brief two or three years in the late 90s) all gone
to the top;
2. Rather than address the median wage problem by, you know, raising it, the Powers-That-Be instead;
3. Came up with ever-more-exotic ways to saddle the median worker with ever-more-crushing amount of debt until;
4. The Median-wage-earner-who-hasn't-had-a-raise-in-years is finally, in fact, crushed by his ruinous debt?
And
now we need to bail out the Powers-That-Be who haven't given their
workers a real raise in years, because otherwise they'll ruin the
economy? Am I missing something or is that about the size of it??
Comments (1)
Mmmm...yep, I think you've about summed it up!
September 23, 2008 5:16 PM | Reply | Permalink
Post a Comment