Saturday, September 12, 2009

Real Income

A lot of TV folks and politicians are declaring the banking / economic collapse over, but I don't buy it. I think the worst is yet to come. But that's just me and the economists that I read. Don't forget, we still have 9.7% unemployment ( and the TRUE rate, if you include those who are no longer receiving unemployment benefits and have quit looking for work, is nearly 17%) and it's climbing.

MeteorBlades posted this on Daily Kos yesterday...

Yesterday, with the release of the Census Bureau's update for 2008, there was another record established: The real median income fell by $1,860 from 2007 to 2008. That's a decline of 3.6%, which makes it the worse one-year decline since 1967, when records were first kept on such matters.

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