> Instead of stimulating the real economy, it led to asset bubbles and widening income inequality. Yes. I guess that I was not clear enough. “ Wages in Califo

> Instead of stimulating the real economy, it led to asset bubbles and widening income inequality. Yes. I guess that I was not clear enough. “ Wages in California have grown fastest for earners at the top of the income distribution. Wages for those in the bottom- and middle-income earners remained stagnant up until the recession and dropped until about 2014. As in the national data, low- and median-wage workers in California finally experienced wage growth that outpaced inflation starting in 2014. This was in part due to labor market tightening, but also due to state and local increases of the minimum wage.” https://irle.berkeley.edu/the-post-recession-labor-market-an-incomplete-recovery/ https://irle.berkeley.edu/the-post-recession-labor-market-an... Until 2014 there were no wage growth for bottom-middle income workers (California). That is a long fall. Meanwhile the markets recovered way faster. We see this pattern repeating in this current crisis that just is starting. There has been a fast fall and fast asset valuation. But, employment has fallen fast but is recovering slower. It’s too soon to get to conclusions as is going to take years to see how the economy evolves. But, there is always lessons to be learned on how to improve the economy to all social strata from past mistakes.