The press is somewhat baffled as to why Americans are so angry this year. The stock market seems to be doing fine (too bad most Americans don’t own stock). Jobs are being added (too bad most jobs are in the low wage service sector). Housing values are up (too bad the homeownership rate is down because Americans can’t afford home prices at current levels). This is the state of our current economy. One that is mired in stagnation for the majority of people and the mainstream press is largely seen as a megaphone for the wealthy and connected. You don’t have to look too far to see that things are not all that great in the real economy contrary to the headlines. Let us look at a few charts to see how things really are.
9 charts show the economy isn’t doing all that well for many
There are many reason why the disconnect from Wall Street to Main Street is happening. Many large companies make profits overseas and we already know that large companies have cut wages for most workers while profits have risen directly to the top. Americans feel poorer because they are.
This post was published at MyBudget360 on March 4, 2016.