Monday, January 09, 2006

The Eek-onomy

I'm pretty fortunate, economy-wise. To avoid jinxing anything, I won't list the myriad blessings which I am probably unworthy of having. But even so, this discussion of "What's wrong with the economy?" is useful in deflating (get it? an economics pun! oh, monetarism is an endless source of amusing wordplay, ain't it? sometime I'll tell my joke about the gold standard - it kills) popular-press claims about how most things are pretty much okay and gettin' better every day. Abridged:

1. Profits are up, but the wages and the incomes of average Americans are down.

2. More and more people are deeper and deeper in debt.

3. Job creation has not kept up with population growth, and the employment rate has fallen sharply.

4. Poverty is on the rise.

5. Rising health care costs are eroding families' already declining income.

Read the full version here.