From a recent post at Asymptosis:
Recessions Are Nature’s Way of Keeping the Little Guy Down
Here’s a picture...
The well-off have done fine. In the greatest economic downturn in eighty years, their median net worth went up.
That red line there, the one that goes up, that shows income of the top 10%.
Reminds me of my definition of recession:
A recession is a time when fewer people do well.