Median incomes continue to drop, half of all American workers are earning LESS than they did in 2001. Robert Reich. Nothing is trickling down, not even to the middle.
What is the point of economic growth if more people are NOT more prosperous. Let’s stop focusing on the GDP, and focus on the MDP: Median Domestic Prosperity. Four years of declining prosperity. Let’s be honest, this economy is nothing to cheer about.
And Reich does not even mention that the economy is overly dependent on real estate, which accounted for more than 90 percent of the growth of the GDP in some markets.