Real Working People Will be Hurt by Recession


	Real Working People Will be Hurt by Recession

abailart

12-5-2007 1:14 PM

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tags:

middle-income deterioration, economy, finance

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a28aec32-aa8e-4b35-86d5-3068c81ba40d/F482D1E7-A984-4A09-ADAE-BA2A7F768DA5/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=14440" href="http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=14440" style="font-size: 11px;">www.zmag.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=14440">The media has been brimming with recession analyses, but as far as I've seen, it's all been from the perspective of <A href="http://www.washingtonpost.com/wp-dyn/content/article/2007/11/26/AR2007112602206.html"><SPAN>financial markets<IMG class="linkscent-icon" src="http://www.washingtonpost.com/favicon.ico" clueid="favIcon" /><IMG class="linkscent-icon" src="http://www.zmag.org/content/chrome://interclue/content/cluecore/skins/default/pixel.gif" clueid="clueIcon" /></SPAN></A>.  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.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=14440"><P class="MsoNormal"><SPAN><FONT size="2">But if we are truly in a slowdown, this may be as good as it gets for middle-class families in the highly-touted, much celebrated business cycle of the 2000s.  If so, it will be like the 1990s without the good part -- the part where prosperity was broadly shared for a few years before the bubble burst.  <O:P _moz-userdefined=""></O:P></FONT></SPAN></P><FONT size="2">  </FONT><P class="MsoNormal"><SPAN><O:P _moz-userdefined=""><FONT size="2"> </FONT></O:P></SPAN></P><FONT size="2">  </FONT><P class="MsoNormal"><SPAN><FONT size="2">This lack of shared prosperity is the signature characteristic of today's economy.  Any politician who isn't taking about what he or she intends to do about it isn't worth listening to.</FONT></SPAN></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=14440">Jared Bernstein joined the Economic Policy Institute in 1992</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F482D1E7-A984-4A09-ADAE-BA2A7F768DA5/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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