September 15, 2014
In this morning's Washington Post, Robert Samuelson looks at the pounding median and middle class wages and net worth took in the wake of the 2007 economic meltdown, returning both to late 1980s levels. This explains a lot about why people remain gloomy about the economy. I wish Samuelson had taken the time to consider the poor as well. I feel badly for those whose net worth was once around $135,000 in 2007 and who saw it drop to around $81,000 in 2013, but I feel even more badly for those for whom $81,000 is an unimaginably large amount of wealth.
