CUI BONO?….From our friends at EPI, here’s our chart of the day. It compares the current economic expansion with past economic expansions.
Basically, everything sucks. GDP growth has been mediocre, employment growth has been terrible, and investment in equipment and software has been pitiful. And of course, we already know that median wages have been completely flat. The average worker has gained exactly nothing from five years of economic growth.
But guess what? One sector of the economy has gone like gangbusters: corporate profits. Even skyrocketing executive pay hasn’t been enough to make a dent. Good times indeed.
If you’re a corporation, that is. If you’re not, then not so much. And if you think this is just a coincidence, you haven’t been paying attention.