Describing this economy

ILLUSTRATED: The key to understanding the mixed economic news is that we are becoming an hourglass society with the economy working for 20% on top, and failing most people.

I see these economic conservatives on cable business channels talking about how the great economy is the untold story. Well, these people who work on Wall Street and interact with CEOs and consultants all day get a warped view.

Here is some debunking-

-The deficit is shrinking. There is a lot of tax revenue because so much wealth is concentrated at the top. It will change in 2011, the 65th anniversary of the Baby Boom. There will need to be strategic tax increases.

-Job growth is strong. A lot of these jobs are part time, or are not jobs to further one's career.

-Inflation is in check. That cuts both ways since it could suggest low growth at the bottom of the economic scale. In any event, health, oil, and education costs are soaring, and that hurts the poor and middle class disproportionately more.

-On housing. For lenders, a bad loan is a tax write-off. For borrowers, particularly homes, a bad loan means losing a house. And terrible credit, too bad the GOP made bankruptcy harsher.

Lastly, any economic statistic that conservatives say, needs to be countered with the fact that the dollar has lost 34% of its value since Bush took office.