There is no recovery except for the very rich.
The depression will continue and deepen because of union busting by Obama and Democrat and Republican state governments. Union busting drives wages down and as they decline working people aren’t able to buy what they produce.
1 in 728 homes received a fourscore notice in 2012. (1) “About 4 million foreclosures have been completed since the financial crisis of 2008…” (2) The rich, who created the housing boom-bust that led to the depression have found a new way to profit from the misfortune of people who lost their homes. “Low-interest rates fostered by the Fed are causing big-money investors to purchase foreclosed single-family homes in blocks of hundreds, even thousands. Expected gains in home prices are also leading hedge funds and investment bank traders to gamble on housing derivatives.” (2)
Unemployment remains at depression levels. (3) It’s still hovering a bit under or over 15% and has been for over two years.
Productivity is soaring but wages are down. “During the 1973 to 2011 period, labor productivity rose 80.4 percent but real median hourly wage increased 4.0 percent, and the real median hourly compensation (including all wages and benefits) increased just 10.7 percent. …” (4)
Poverty is at record levels. “There were nearly 50 million Americans living in poverty in 2011, under an alternative measure released by the Census Bureau Wednesday. That’s 16.1% of the nation, higher than the official poverty rate of 15%. The official rate, released in September, showed 46.6 million people living in poverty.” (5) ‘Nearly 15 million children in the United States – 21% of all children – live in families with incomes below the federal poverty level …” (6)
The vast increase of the wealth of the rich during a depression they caused, abetted by political prostitutes in the WH and Congress, is nothing short of criminal. The only way to end their criminality is to break with the twin parties of the rich and create a workers government.
Depression 101 – http://www.youtube.com/watch?v=qOP2V_np2c0&feature=player_embedded