Quartz did a good write up of some research by the Minneapolis Fed on the differential impact of the recent crisis on different income strata. In general recessions hit top incomes hardest. They have the most to lose and their incomes derive disproportionately from profit which fluctuates most in crises. 2007-2010 hit top incomes hard. But what was remarkable about it was how badly low incomes were affected.
“The market for U.S. government debt (Treasuries) forms the bedrock of the global financial system. The ability of investors to sell Treasuries quickly, cheaply, and
Politicized memory plays strange tricks. To listen to influential Western voices in 2023 you might imagine that China emerged in December 2022 from long confinement
Is Russia’s war economy on the brink of crisis, or settling into a new “long-war” mode? Subscribed With the ruble having fallen to new lows
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