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View Diary: Fed's vice chair Janet Yellen reminds us how the 'painfully slow recovery' has afflicted workers (13 comments)

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  •  Couldn't pass this up: Joseph Stiglitz clip.. (3+ / 0-)
    Recommended by:
    Larsstephens, LinSea, rl en france

    .. with Paul Krugman & Dean Baker discussing economics @ UP with Chris Hayes - The Role of inequality in the recovery:
    (short commercial - sorry )

    All three experts, approaching wealth inequality from their own perspective, reach very much the same conclusion. That with 93% of the recovery going to the wealthiest at the top, the recession has been prolonged by this fact more than most every other factor.

    Also too: One thing if I'm getting this correct is that without the manipulation of tax laws favoring those with the means to do so, this disparity would be much less egregious/exaggerated top to bottom.

    Iow's without this  un-"free market" (free market - so cherished in words only imo) manipulation, the economy would tend to balance out wealth more fairly.

    •  And Alexis Goldstein of #OWS (3+ / 0-)
      Recommended by:
      Larsstephens, LinSea, rl en france


      So, while the stimulus certainly ameliorated the damage caused by the recession, it wasn't strong enough to kick-start the economy into a real recovery.
      Banks were bailed out but when it came to the homeowners and main street stimulus - not so much

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