Saturday, February 08, 2020

COTW: The Economic Boom Myth

Il Douche, the Impeached, is going to run on his 'economic miracle'.  The truth is that the miracle is only occurring on Wall Street, not Main Street.  Look at the charts:

Real wages (adjusted for inflation) have not kept pace with economic expansion.  Fringe benefits like health care and paid leave are available for high wage earners, but not those in the so-called "Gig" (translation: ripped-off) economy:


The real value of fringe benefits has declined overall by 1.7%. Finally, the Labor Department's U-6 unemployment measure, the broader and more accurate measure of actual unemployment since it includes those who have given up looking for work, is at 6.6% for December, three points higher than the propaganda figure.  The only good thing about this chart is its negative slope, showing a down trend from a whopping 17% post Great Recession: