From Klokani Commons:

It is fairly clear to most Americans these days that the 2007-2009 recession was not a “normal” recession in the context of the 11 post-WWII recessions. With unemployment still obscenely high (9% officially, and 16% if you use the U6 figure), growth anemic, and markets in turmoil, Harvard Economist Kenneth Rogoff has labelled it the 2nd Great Contraction, which in my opinion is a fancy word for the 2nd Great Depression. George Mason Economist Tyler Cowen has an interesting name also, The Great Stagnation. Cowen asserts that “America is in disarray” and that we face a “long-run fiscal crisis.” He and countless other economists and observers from Marxian Rick Wolff to mainstream news outlets like CNN and the Financial Times point the finger for this malaise at one thing, median wage stagnation for the majority of Americans and massive income increases for the rich. In other words, for most Americans (90%) the past 30 years have seen almost no actual increase in wages, while the rich have seen a substantial rise; all leading to messy economic problems and a bleak outlook for recovery. Here are some excellent infographics from Mother Jones (these and more can be accessed in full size at their website):