Thursday, March 15, 2018

Have low to middle income families recovered?

In a brief Google search to see if the low-income quintiles had yet recovered from the 2008 recession, I found a plethora of late 2017 articles in left leaning journals/websites, allowing the authors to cast blame on Trump. Then I lucked out and found a Kansas City Federal Reserve (10th district) study done during the Obama terms, but other Feds were doing similar studies. By the end of 2012, NO quintile had recovered, with the richest taking the biggest hit early in the recession, but low and middle income recovery just slid lower and lower. Low skills, prison records, drugs, the loose mortgage standards of the Bush years and the lack of resources to relocate all made a perfect storm for many low income workers. People who were previously middle-high income, were pushed into the low. A good review of recent history to keep your thinking clear. As near as I can tell from the secret code, this is 1st quarter 2013. Author is Kelly Edmiston.

No comments: