The plugger economy

Newsflash: The economy is tanking, but not tanking enough. The lingering recessionary tendency is more like a chronic back pain or knee injury that you need to take ibuprofen for. Sure, surgery might work, but know one knows what to do except wait it out and see if it works itself out on its own.

In reading the article, I began to wonder whether we're looking at a new type of economy, in which the fast times and fast fortunes of the technology markets are giving way to a slower sort of pace. It reminds me of Gary Brookins's cartoon Plugger, which "chronicles the hardworking people the world depends on . ... the 80 percent of humanity who unceremoniously keep plugging along."

Don't get me wrong. When the economy is bad, people hurt. But for the fat and happy, getting in touch with their inner plugger may not be a bad thing.

Favorite quote:

“Slowing wage growth and falling employment is absolutely toxic if your business is selling anything to consumers,” said Ian Shepherdson, chief United States economist for High Frequency Economics.

Of course, he means businesses in the consumer product industry, but it's still kinda funny.