Home > income redistribution, inequality > Economic winners and losers in the US since 2007

Economic winners and losers in the US since 2007

from David Ruccio

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As Steven Rattner explains,

Not only did trends of recent years continue in 2013 – particularly the diverging fortunes of the rich and everyone else — but in some ways they accelerated. The stock market, as measured by the Standard & Poor’s index, was up a stunning 32 percent (through Dec. 27). Corporate profits rose to a record $2.1 trillion. Meanwhile, incomes remained nearly flat and jobs tallies grew slowly. Through Oct. 30, earnings were up just 1.4 percent, an even smaller increase than in 2012.  The only relative bright spot for the average American was housing; thanks in part to the aggressive efforts by the Federal Reserve to hold down interest rates, sale prices of homes were up by 13.3 percent in September, compared with a year earlier.

That “bright spot” is, of course, only bright if someone happens to be selling a house they actually own—which they may be doing in order to move somewhere to find

from David Ruccio

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