“Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans.” That’s the very good news. But here’s the reality check: “Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999.” Here’s some analysis from WaPo.

+ “The scars of the financial crisis and the ensuing Great Recession are still with us, just below the surface. The most profound of these is that the uneven nature of the recovery compounded a long-term imbalance in the accumulation of wealth. As a consequence, what it means to be secure has changed. Wealth, real wealth, now comes from investment portfolios, not salaries.” NYT: The Recovery Threw the Middle-Class Dream Under a Benz.

+ NYT on what’s happening in Vegas. The Epicenter of the Housing Bust Is Booming Again. (That’s a Warning Sign.)

+ Ten years after the crisis, Barry Ritholtz takes a crack at answering the question: Why did nobody go to jail?