Not-Quite Breaking News: COVID Was Great For The Rich

Ironically, it was a time they perhaps complained the most about society.

I will not do the heavy lifting of explaining things and various charts on this post. Instead, I will direct you to this link, which breaks down a Congressional Budget Office report on the economy between 2019 and 2021. It’s worth noting that, in theory at least, the Congressional Budget Office is non-partisan.

A new government report reveals the fundamental flaw in the American economy

The report contains no real breaking news: essentially, COVID was a very beneficial period for the already-affluent, in terms of land grabs and unrealized capital gains and all the rest of it. The grand irony of COVID is that we pitched a narrative of reduced inequality, because of the “free money” that was being sent out. In reality, that narrative lasted for maybe 16 months, if that. During those 16 months, of course, a lot of guys were buying up half of Malibu before interest rates popped up. I think most of us know this. I also think most people realize that America and labor is a complex dance, but it is rooted in two key semi-lies…