The Recession Analysis I Haven’t Seen, Or Why We May be About to Make Economic History
The media has been brimming with recession analyses, but as far as I’ve seen, it’s all been from the perspective of financial markets. The central question of these articles is what impact a downturn might have on the markets. What’s missing, of course, is an analysis of the impact of recession on those of us who depend on paychecks, not stock portfolios.
That’s a huge oversight, because this may be the first business cycle wherein the typical family’s real income fails to regain its prior peak.
