The K-Shaped Recovery is Under Way

A Practical Summary

• The economic recovery unfolding in the US is neither U-shaped nor V-shaped … it’s best expressed as a “K-shaped recovery,” with two Americas diverging
• For wealthy Americans who are in the top income quartile, and who own significant financial assets, the recession is effectively over: incomes, employment, and (yes) even their kids’ math homework are better than ever
• Poorer Americans who are in the bottom income quartile, and who are living in the Northeast, west coast, or in some of our large cities…