Era since 2007 is best viewed as a depression:
In fact, I've been arguing that the era since 2007 is best viewed as a ``depression,'' an extended period of economic weakness and high unemployment that, like the Great Depression of the 1930s, persists despite episodes during which the economy grows.
A new report says the US middle class is facing its ``worst decade in modern history,'' with its share of the nation's income falling for the first time since the Second World War.