Worries grow over a K-shaped economic recovery that favors the wealthy

[Klaralven]

As the economy struggles to shake off the pandemic effects, worries are growing that the recovery could look like a K.

That would be one where growth continues but is uneven, split between sectors and income groups.

One obvious area of concern is the dichotomy of the stock market vs the real economy, especially considering that 52% of the market is owned by the top 1% of earners.

“Let’s not get lost on different letters of the alphabet,” Treasury Secretary Steven Mnuchin said. “There are certainly parts of the economy that need more work.”
https://www.cnbc.com/2020/09/04/worries-grow-over-a-k-shaped-economic-recovery-that-favors-the-wealthy.html

There are significant parts of the economy that are irreversibly changed to lower activity, revenues and employment.

[beachbumbob]

1. we got bigger worries than the economy at the moment

[marlakay]

2. I am worried that the market is going

To crash big when Joe stops propping it up and they will blame him.

Yes the markets are for middle class and up but all of our pensions and the government invests in it.

[TheRealNorth]

3. Another market crash.....

Is just another opportunity for the banks and hedge funds to buy up foreclosed houses on the cheap and rent them back to us for a tidy profit.

[Klaralven]

4. The problem is more retail and office real estate debt this time around.

Dead malls and vacant downtown high rise office buildings.

Strip malls and suburban office parks will be OK.

[ck4829]

5. K&R