The truth is the rich are getting richer and everyone else is losing ground as inflation chews through stagnant incomes and rising debt loads stripmine disposable income. Bought and paid for cheerleaders for our failed, corrupt status quo will always hype bogus, purposefully misleading statistics - but don't mistake fakery for fact.
The outlook for the US economy is deteriorating, yet the Fed is trying to raise overnight rates to keep unseen inflation from rising. Success in its strategy could force consumption lower, unemployment higher, and exacerbate real output contraction. The market, however, should not underestimate the Fed’s power based on its apparent incompetence.
American net worth just hit a record high $88 trillion, a number taken by the fawning media is evidence of how successful Obama's policies have been. However, when one looks beneath the surface, a "devastating" picture emerges: US inequality like no one has seen it before.
People, more and more of them, understand the impossibility of improving the economy by giving a handful of people the power to expand or contract the money stock at will. In simplest terms it is a ridiculous idea. It can’t work. It doesn’t work. And this analysis is further proof. And sooner or later the current system will not have the necessary popular support to survive.
This slow exodus of insurers from the health law's marketplaces represents a serious threat to the continued stability and existence of its exchanges. Obamacare is perched on the edge of a death spiral. The fundamental problem is simple: Insurers are losing money... was that the plan all along for the Affordable Care Act?
Poor economies impact countries in a number of detrimental ways including higher rates of poverty, unemployment and chronic disease. Now, a new study shows the bad economy is to blame for another unfortunate trend: the rise of the selfie generation and "spornosexuality."
If Obamacare enrollments continue their current trend and insurers continue to hike premiums at alarming rates then Republicans may not have to worry about "repealing and replacing Obamacare" as it might just work itself out "naturally".
Thanks to Obamacare, it is frequently better for a middle class family to get no raise than even a decent sized raise. The wage point varies, but many will say “Dear employer, please don’t pay me more. It will cost me a lot of money”.
Last Friday, stocks soared as Yellen dropped hawkish hints that The Fed would raise rates "because it was appropriate" implying everything is awesome. One week later - following a terrible Fed-narrative-imploding jobs print - Hillary Clinton-donor and Fed member Lael Brainard goes back to full dove-tard: BRAINARD: U.S. JOBS IN MAY REPORT SUGGESTS LABOR MKT HAS SLOWED, SEES BENEFITS TO FED WAITING FOR ADDITIONAL DATA. Nothing would surprise us less to see stock go green today on this dovish news - just as they did last Friday on hawkish sentiment. If (Fed speaks) THEN (Buy).
"As stock prices rise, the gains are disproportionately distributed to the wealthy. Lower- and middle-income families who are also wealth-poor are less likely to expose their savings to the higher risks of equity markets.... gains in the stock market tend to benefit those in the wealthiest portion of the income distribution, who have better access to and higher participation in these asset markets."