NYT Notices Bifurcated Economy That NBfPB Has Explained Many Times

I have well-chronicled a phenomenon that you rarely read about - that the Democrats (the Pelosi, Reid and Obama gang) has created an economy that stinks for average people but that is not so bad for owners of things.  Check out my many posts on this here, here, here and here, but here is the nub:

Peter Morici calls this economy exactly as I called it, terrible for the working class and not so bad for investors and the highly educated. Sadly, what the working class needs are people with bright ideas and fists full of money. This is the most unfriendly government to that type of marriage - generally referred to as "entrepreneurialism"- that we've seen in decades. You heard it here first folks.

Hey, well now the New York Crimes has taken note.

With the Dow Jones industrial Averageflirting with a record high, the split between American workers and the companies that employ them is widening and could worsen in the next few months as federal budget cuts take hold.

That gulf helps explain why stock markets are thriving even as the economy is barely growing and unemployment remains stubbornly high.

 ''So far in this recovery, corporations have captured an unusually high share of the income gains,'' said Ethan Harris, co-head of global economics at Bank of America Merrill Lynch. ''The U.S. corporate sector is in a lot better health than the overall economy. And until we get a full recovery in the labor market, this will persist.''

I have laid it all out before, the classic lefty recipe for creating misery among the people they purport to champion and good times among the people they consistently demonize in order to win elections.

First we must start with a misdiagnosis of the financial crisis. Politicians blamed it all on the banks and business, when it was largely the creation of government through highly distorted incentives. They further chose to tackle a financial panic, a monetary event, as a traditional business cycle recession and applied traditional counter-cyclical Keynesian "stimulus". Also, coming out of the financial crisis, the politicians ramped up both anti-business rhetoric and an anti-business policy agenda the likes of which this country hasn't see in seventy years. So as the monetary disruptions healed, the government was sucking the oxygen out of the economy by crowding out private capital to borrow and spend on "stimulus" and sending risk-takers to hide under their desks. So as the world beyond our borders recovered, having indulged in less over the top business bashing, US manufacturers have been able to secure alot of business exporting our great products to the world, but have little incentive to hire (ObamaCare) and expand here at home (card-check, EPA, NLRB, etc). Ergo the profits but not too much hiring. So that's how we got an economy that stinks for "workers" but is OK for "owners".