The Economy Is Booming

Our Dear Leader tells us every Tweet that the economy is booming thanks to him and his policies.  Speaker Ryan Tweets every day that the economy is good and our people are doing better and better…..

I hate to tell these two deluded slugs but just because the wealthy are making money hand over fist does not mean that the rest of us are doing so as well…..no we are not doing good…..for most wage slaves the economy is crummy at best…..

We humans have stopped waiting for the trickle down….it has not made it to us in 30+ years and I do not think it ever will…..and yet the GOP voters keep believing it will eventually get to them as they struggle every day…..I believe that Einstein had something to say about doing the same thing over and over……..

For about a year now, the unemployment rate has been around 4%. That’s supposed mean full employment, labor shortages, and rising pay. But the latest earnings report is the same old story: no gains in real hourly wages from June of 2017 through June of 2018. Most employers have been able to find new workers without having to raise pay offers.

What’s going on? There are screwball right-wing diversions and explanations. A Trump economist, D. J. Norquist, opines that it will take time for the Republican tax-cuts to work their way through the economy. As an explanation, this is nonsense. Just because the lords of creation get more money doesn’t mean more will filter down to workers. We have the evidence of forty years on that issue. Then we have Stephen Moore at the Heritage Foundation. He suggests that the economy might be creating a disproportionate number of low-wage jobs, which could outweigh rising wages higher on the job ladder. But this is not happening. And if it were, we would be right back to asking why a booming labor market was generating more lousy jobs.

https://www.counterpunch.org/2018/07/18/the-crummy-good-economy-and-the-new-serfdom/

Will another shoe drop thanks to the tariffs and the trade war that looms?

When it goes to Hell how long before it is Obama’s fault?  (After all that is Dear Leader’s favorite scapegoat)

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