The Selective Recovery and a Shrinking Middle Class

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Wall Street is setting records never imagined before, and the housing market is on the rise. Does that mean the Great Recession is over? Not according to the Federal Reserve Bank of St. Louis, which says average American households have recovered just 45% of the wealth they lost. Others say the reality of two Americas has crushed faith in stabilizing institutions, including farms, factories, public schools and the political system. We hear what it feels like to be on the losing end and look for signs of a better future.

Credits

Guests:
Ray Boshara - St. Louis Federal Reserve Bank - @stlouisfed, Joe Sangataldo - job counselor, George Packer - New Yorker - @newyorker, Mark Zandi - Moody's Analytics - @dismalscientist

Host:
Warren Olney

Producers:
Evan George, Anna Scott, Liyna Anwar