(From Matt Taibbi at Substack)
In this “recovery,” the happy upward prong of the letter K represents banks, real estate, the telecom sector, as well as anyone who owns any kind of financial asset, from a home to a stock portfolio. The down-pointing prong usually represents wages or the “real” economy, which humorously has often had to be described in press treatments in clinical terms, as a separate, alien thing.
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