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turbinetree

(24,713 posts) Mon Sep 3, 2018, 10:13 AM Sep 2018

Watch your wallets -- the next crash is coming [View all]

ROBERT REICH - COMMENTARY
03 SEP 2018 AT 07:45 ET

September 15 will mark the tenth anniversary of the collapse of Lehman Brothers and near meltdown of Wall Street, followed by the Great Recession.

Since hitting bottom in 2009, the economy has grown steadily, the stock market has soared, and corporate profits have ballooned.

But most Americans are still living in the shadow of the Great Recession. More have jobs, to be sure. But they haven’t seen any rise in their wages, adjusted for inflation.

Many are worse off due to the escalating costs of housing, healthcare, and education. And the value of whatever assets they own is less than in 2007.

Last year, about 40 percent of American families struggled to meet at least one basic need – food, health care, housing or utilities, according to an Urban Institute survey.

https://www.rawstory.com/2018/09/watch-wallets-next-crash-coming/

38 replies

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Watch your wallets -- the next crash is coming [View all] turbinetree Sep 2018 OP

When the wealthiest have most of the wealth, there is little left democratisphere Sep 2018 #1

:) If it can only become worse, though, what happens when Hortensis Sep 2018 #31

Already got notice of my next rent increase... Wounded Bear Sep 2018 #2

The prices on everything just keep going up and up. Yep, the fallout will be incredible. n/t RKP5637 Sep 2018 #6

It is inevitable. dalton99a Sep 2018 #3

We're due True Dough Sep 2018 #4

Mueller, the Democratic Party, Liberals and Progressives, Iliyah Sep 2018 #7

He'll blame everyone, and if he's out of office, he will say he was the greatest. n/t RKP5637 Sep 2018 #8

Wages are going down but cost of living is rising Iliyah Sep 2018 #5

Exactly, the math makes absolutely no sense. It's inevitable. n/t RKP5637 Sep 2018 #10

So true bluestarone Sep 2018 #9

tRump thinks it just great if people are working several jobs to try to survive. He will RKP5637 Sep 2018 #11

We're just $50B from Trump adding a TRILLION $$$ to the National debt since Jan 1st..... Bengus81 Sep 2018 #12

Any other republican president would have done EXACTLY what trumpft did. Merlot Sep 2018 #15

We have an economy for the few, not the many. CrispyQ Sep 2018 #13

Yep Cosmocat Sep 2018 #22

K&R smirkymonkey Sep 2018 #14

Highest gas prices since 2014. yallerdawg Sep 2018 #16

We are always gettng closer to the next crash Cary Sep 2018 #17

IOW proceeding as planned Hermit-The-Prog Sep 2018 #18

The economy is an illusion bound to crash The Liberal Lion Sep 2018 #19

We are always getting closer to the next crash because strangedaysindeed Sep 2018 #20

Yes, they keep repeating the same 'ol same 'ol blue-wave Sep 2018 #25

2013, I had one of the large box stores come out and install new padding and carpet in a bedroom dameatball Sep 2018 #21

I just installed new floors marylandblue Sep 2018 #28

Interesting. today was my 4th visit to this store. First was to get someone out to take measurement dameatball Sep 2018 #36

You can always negotiate. marylandblue Sep 2018 #37

I did the budget thing....retired....fixed income......seems like it worked. dameatball Sep 2018 #38

But The Orange Fuehrer is building a wall treestar Sep 2018 #23

Just try buying groceries on a fixed income...! Ford_Prefect Sep 2018 #24

Prices going up, combined with inflation by deflation... WePurrsevere Sep 2018 #30

Not just groceries either... llmart Sep 2018 #32

I believe we are close, blue-wave Sep 2018 #26

When you transfer so much wealth duforsure Sep 2018 #27

Yet If You Listen To The Talking Heads On The Cable Channels..... global1 Sep 2018 #29

An excellent analysis by Robert Reich Uncle Joe Sep 2018 #33

Your welcome turbinetree Sep 2018 #35

And the sad part is the out of touch orange shitgibbon Norbert Sep 2018 #34