You ever get tired of those “OMG THIS ONE [MAP, CHART, GRAPH, WHATEVER] EXPLAINS EVERYTHING/IS THE MOST IMPORTANT THING EVER” posts you see all over the place?
Yeah, me too. But every once in a while, they kind of have a point. Matt Yglesias says this is “The most important chart about the American economy you’ll see this year,” and we’ve still got three months to go, but I think he might be right:
Forget lopsided expansions. We’re in an “expansion” where 90% of the country is literally still getting worse off. That’s not an expansion in any meaningful sense.