Thursday, April 05, 2007

Nice economy you got there

A couple of graphs that help explain why Bush can keep crowing about how strong the economy is while most people feel an increasing pinch in their pocketbooks:
  1. GDP versus wages showing that the former has gone up 15% in the last five years while the average worker (median wage) hasn't seen any of that increase in his own take-home pay.

  2. Current economic expansion versus average past cycles shows that almost everything has grown more slowly (employment, investments, even GDP) except for corporate profits, which have skyrocketed.
money grows on trees, right?As Kevin Drum said, if you think these shifts are coincidental, you haven't been paying attention: Bush reports to the corporate interests, and thus defines a "good economy" as one like this, that has benefitted them. He appears not to care at all what's happening to the little guys down the totem pole...

To heck with the rising tide/boats business if you live on a mountain! Tally ho!!

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