{"id":33026,"date":"2018-04-02T08:28:20","date_gmt":"2018-04-02T13:28:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33026"},"modified":"2018-04-02T08:28:30","modified_gmt":"2018-04-02T13:28:30","slug":"crisis-struck-10-years-ago-whats-changed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33026","title":{"rendered":"Crisis Struck 10 Years Ago: What’s Changed?"},"content":{"rendered":"
\n
\n
\n
\n

Crisis Struck 10 Years Ago: What’s Changed?<\/a><\/h3>\n<\/div>\n<\/div>\n
The financial crisis and the massive federal response reshaped the world we live in. Or did it?<\/p>\n<\/section>\n<\/div>\n<\/header>\n
\n
\n
\n
\n
\n

The Wall Street Journal has an interesting infographic series of 25 charts entitled 10 Years After the Crisis<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Here’s eight of the 25.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Median Income Barely Up<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

Forget averages. The median is what counts most.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Real median wages fell in 7 out of the last 11 years! For details, please see Imaginary Wage-Inflation Conundrum<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

My discussion pertains to “wages”. The WSJ referred to “household income”.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Public Debt Triples<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

The MMT crowd says “We owe it to ourselves”.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Credit Rating Agencies<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

The guys that rated everything AAA in 2007 are still in charge of things.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Fannie Mae<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

They promised to unwind Fannie Mae. What happened?<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

More Ways To Invest<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
<\/div>\n<\/div>\n
\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

More ways to invest in fewer companies. Who can possibly find fault with that? The casino is open!<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Revolving Doors Still Functioning<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

The revolving door concept still works.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Gotcha!<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

Batting one out of a thousand is arguably better than expected.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

Wealth Distribution Trends<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n
\"\"<\/div>\n<\/div>
<\/figcaption><\/figure>\n<\/div>\n
\n
\n
\n

Who couldda possibly thunk that might happen when you bail out the banks, lower interest rates to zero, foreclose on millions of homes, send no one to jail, and promote inflation?<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n
\n
\n

No one could possibly have predicted this result.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Crisis Struck 10 Years Ago: What’s Changed? The financial crisis and the massive federal response reshaped the world we live in. Or did it? The Wall Street Journal has an interesting infographic series of 25 charts entitled 10 Years After the Crisis. Here’s eight of the 25. Median Income Barely Up Forget averages. The median […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[303,312,14648,13390,3650,860,861],"class_list":["post-33026","post","type-post","status-publish","format-standard","hentry","category-economics","tag-fed","tag-financial-crisis","tag-michael-shedlock","tag-mishtalk","tag-us-federal-reserve","tag-wall-street","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33026"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33026\/revisions"}],"predecessor-version":[{"id":33027,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33026\/revisions\/33027"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}