Relevant:
- The Collapse In Economic Mobility's Main Cause: Inequality, Not Low Growth
- U.S. recession ended in June 2009, NBER finds
- U.S. household wealth hits record high even as economy struggles; Powell sounds alarm on inequality
- Housing Remains in Deep Slump as Consumers Stay on the Sidelines
- Barely Half of 30-Year-Olds Earn More Than Their Parents (ONCE IT WAS NEARLY ALL)
2020-04-26 — nytimes.com
That group of Americans, born in 1980, missed out on the post-World War II economic boom that lifted their elders to prosperity. While the economy grew during their childhoods, the gains were distributed much less evenly, as the federal government backed away from policies aimed at minimizing inequality. The winners won bigger, but more people were left behind. The year this group turned 21, the stock market collapsed and the economy fell into recession. In 2008, there was a bigger recession.
Now they're turning 40 and life hasn't gotten any easier. A decade of sluggish growth has ended in an economic collapse already more severe than the last. They have more debt, less predictable employment, and less reliable access to health care.
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