If a rising ride lifts all boats, an ebbing tide should lower all boats. But despite a very ragged economic week it seems that the larger boats are still afloat while the smaller ones are swamped and tipping.
The trouble with analogies is that they rarely work under all circumstances. Yes, we 'recovered' from the Great Recession, technically, but most of that recovery landed on those who were already employed (including me) and those with abundant resources beyond employment (less true of me).
Such an uneven, lopsided recovery meant that when the tide went out again, as it has done this past week, it turns out we actually had two oceans - one for big boats and another for small ones. The big boats were in a deeper ocean; they dipped but did not go aground. The smaller ones were in the shallower ocean; when the tide fled again they landed on the mudflats.
The cost for the latest market contraction will mean more unemployment. True, those who have much will lose much, but it is unlikely they will lose it all. For those, however, whose $30k job is all they have, losing a job means losing everything. The good news, as only a cynic would call it, is that they won't be lonely.
At some point, if nothing changes for a while, the folks in the smaller boats will climb onto the big boats. They will not be "asking" for help.
So you guys in the big boats, think hard about what would be worse: sharing the tide, or losing the boat.