9/4/2018 – A negative day with the Dow Jones down 12 points (-0.05%) and the Nasdaq down 18 points (-0.23%)

Every time Trump says MAGA I cringe. And not because I don’t want America to be ‘Great Again’, whatever that means, but because Trump’s actions are in direct contradictions to what he is saying.

For instance, Trump’s tax cuts did absolutely nothing to help your average American. The tax cuts went primarily to the corporates who in turn used the proceed for stock buybacks, making the ‘everything bubble’ infinitely bigger and of course, self enrichment.  All while Trillion dollar deficits that will eventually lead to the great American collapse continue to pile up.

This article puts it all in perspective. 

What Just Happened? $30 Trillion to the Richest White Americans Since 2008

Wealth statistics since the recession are provided in the Credit Suisse Global Wealth Databook. A summary of relevant data can be found here.

Post-recession data shows that about $33 trillion went to the richest 10%, who are overwhelmingly millionaires (13 million millionaires, 12.6 million U.S. households!). That nearly doubled the wealth of each member of the richest 10%. Average net worth is now $14 million for each 1% household, and the greater part of a million for even the ‘poorest’ household in the top 10%.

In comparison, average net worth for the poorest half of America decreased from $11,000 to $8,000 since the recession.

There is another description for all of the above.

One giant Ponzi Scheme, a swindle. 

It is unfortunate, but most Americans do not understand that their wealth has been stolen from them and that their economy has been gutted in the process. They will, but that will happen in the midst of the next recession. I wonder if they will blame Putin.

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