The new poor and a slow recession recovery

For people who believe economic recovery is "just around the corner," an in-depth piece by the New York Times says, "think again."

Various reasons mentioned include institutional investors short-term profits focus:

“The pace of job growth has been getting weaker in each expansion,” Lakhshman Achuthan said. “There is no indication that this pattern is about to change.”

As well as a thinner social net, thanks to the Clinton era welfare "reforms."

“We have a work-based safety net without any work,” said Timothy M. Smeeding, director of the Institute for Research on Poverty at the University of Wisconsin, Madison. “People with more education and skills will probably figure something out once the economy picks up. It’s the ones with less education and skills: that’s the new poor.”

Remember, at the time, many of us progressives said, let's see how this plays out in our first real recession, after late-'90s successes were touted? Well, we're now seeing.