“GDP grows 1.8% in the First 3 Quarters!” “Stock Market Hits New High!” Please forgive my lack of euphoria.
Unless you believe in trickle-down economics, GDP and stock market growth are irrelevant to average Americans. We don’t care that corporate profits are at their highest level in at least 85 years – because employee compensation is at the lowest level in 65 years. With the top 1% skimming the economic cream, pay-check Americans live day-to-day on fat-free diets of stagnant incomes and rising expenses. Median household income is exactly where it was a quarter-century ago, and down 10% since 1999.
How exactly are America’s pay-check families better-off today because GDP and Wall Street are up? A third of America’s workforce is idle. Free trade and open borders are exporting jobs and importing job competitors. Business owners have divided-and-conquered their workforces through union busting and generous work visas. All the while, costs for everyday necessities like housing, healthcare, cars and education continue to climb.
No politician offers real solutions to reverse stagnation among America’s pay-check families. As a result, most voters either stay away from the polls or vote for any nut with a plan.