Usa India economy crisis shock Usa India

The vain hunt for a painless way out of our current covid bubble

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The US economy’s K-shaped recovery is underway. Those with stable full-time jobs, benefits, and a financial cushion are faring well as stock markets climb to new highs.

Those who are unemployed or partially employed in low-value-added blue-collar and service jobs—the new ‘precariat’—are saddled with debt, have little financial wealth, and face diminishing economic prospects.These trends indicate a growing disconnect between Wall Street and Main Street.

The new stock-market highs mean nothing to most people. The bottom 50% of the wealth distribution holds just 0.7% of total equity-market assets, whereas the top 10% commands 87.2%, and the top 1% holds 51.8%.

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