Thursday, September 15, 2016

NYT: Economy Remains Fragile for Many

Good for many, but not for most Americans.   Why kind of economy is that?

If we can't take care of our working class, our struggling lower middle class, and at the same time we flood our nation with low skill immigrants brought in past our open borders for political purposes - what then?

Who gets it?  There are many attempts to cover it in the media.  Below is one from the New York Times. 

But most of the reporting isolates the economic struggles as if Washington's policies and politics have no blame.  The solutions typically point to more spending by government. 

This viewpoint from the media and the partisan hacks that control most of the media is tiresome. 

Most voters, I think, understand the truth of the phony economy with its limited prosperity.   Obviously, we'll find out in November what the voters decide to do about it.   PB
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From the New York Times online:

The eye-popping improvement in economic fortunes last year raises the question: If incomes are up and poverty is down, why is Donald J. Trump’s message of economic decay resonating so broadly?
 
The answer is in plain sight.
 
While the economy finally is moving in the right direction, the real incomes of most American households still are smaller than in the late 1990s.
 
And large swaths of the country — rural America, industrial centers in the Rust Belt and Appalachia — are lagging behind.
 
“We ain’t feeling too much of all that economic growth that I heard was going on, patting themselves on the back,” said Ralph Kingan, the mayor of Wright, Wyo. “It ain’t out in the West.”
 
That bleak reality helps to explain why the good news the Census Bureau issued Tuesday about a rise in household income was greeted gleefully by economists but is unlikely to change the complexion of the presidential race...
 
Yet the repeated assertions by Mr. Trump, the Republican nominee, that the middle class is being decimated and the economy is in decline ring true to his supporters.
 
Many Americans, even those who are prospering, remain pessimistic about the fragile recovery.
 
Hillary Clinton, his Democratic rival, has been careful to acknowledge the economy’s problems alongside its progress.
 
The economic dislocations of recent decades may be contributing to the polarization of the electorate, according to research by David Autor, an economist at the Massachusetts Institute of Technology. 
 
By emphasizing the nation’s economic troubles, the candidates are going where the voters are...
 
Last week, 26 percent of people surveyed in Gallup’s poll of Americans’ confidence in the economy rated current economic conditions as excellent or good, while 30 percent labeled them poor.
 
Thirty-seven percent of those surveyed said their economic outlook was “getting better” compared with 57 percent who said it was “getting worse...”
 
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Link: http://www.nytimes.com/2016/09/15/business/economy/census-poverty-income-donald-trump.html

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