The markets ended 2019 strong, but that's not the case for many middle class Americans. Politico's Ben White and the New York Times' Jeremy Peters join Stephanie Ruhle to explain why the numbers the president loves to tout aren't telling the whole story. Aired on 01/02/20.
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Dems Highlight Different Reality Despite Middle Class Despite Strong Market | Velshi & Ruhle | MSNBC
Stock market is a bigger bubble than the 2008 housing market. The Fed is printing money like madmen and pumping billions into the repo market, and weakening the value of the dollar, (flirting with the prospect of hyper inflation) Corporate and private debt are at record highs. Worker’s wages and GDP are both stagnant. Trade wars and tariffs have lead to a massive bail out of the aggriculturial industry. Trump tax cuts have only allowed for corporate buy back of stocks, and failed to produce any trickle down economic benefit for the poor and working class. All these things equal a recipe for disaster. Happy New Year.
No Presidents have printed more money than Barack Obama.
Wage are up.
Tax cuts help make more Jobs.
🇺🇸 Trump 2020 🇺🇸❤
@Deplorable
Presidents do not print money, or set interest rates,
the Federal Reserve does.
Wages are not up, and the class disparity gap continues to widen.
Tax cuts have not created more jobs.
The majority of jobs that have been added are mostly temp and or low wage jobs,
A majority of these positions are filled by people taking on additional employment to supplement their main income, which is failing to keep up with the cost of living.
People who self harm in order to “own the libs” are statistically less educated and suffer from emotional instability. I can only surmise you deplorables didn’t receive enough hugs growing up. Sad.
DUIs in DFW is down. The last time it fell is before the housing market crashed.
No wage growth!
Tom Krohn Even the NYT disagrees with you.
https://www.nytimes.com/2019/05/02/business/economy/wage-growth-economy.html
If unemployment is as low as Trump claims wage growth should be going up by 10-30% on the low end. The NYT story includes rich people.
Troll
translation tom doesn’t have any wage growth b/c he has NO job and lives with mommy
Well tommy…slinging expensive coffee never did pay all that well. (Perhaps that degree in Philosophy of Underwater Basket Weaving was a bad choice.)
most Americans dont have stocks, bonds. Trump was handed a great economy. He is blowing it up. he is only helping the 1%, who are richest. He is a conman
@Q Wins – You know what your problem is? You hate. You see, I know that 9 of the poorest states in the nation are red states. That doesn’t mean I hate them. In fact, I think that the cult leader should be doing something about that. He promised he would. He’s claiming his economy is doing great when it is blue states that are the backbone of that economy.
https://www.usnews.com/news/best-states/slideshows/us-states-with-the-highest-poverty-rates?slide=2
@ra5928 well dude you didn’t exactly make a point, mostly rambling. I’m glad you have done well and are able to enjoy life- I wish that for everyone. However, I bet you are benefitting greatly from the Trump economy. You never answered how the Ukrainians got the DNC server- still waiting. I am surprised by what you have saved if that is the truth. I did not make that comment to impress you but since you threw a number out there my net worth is several times more. I could retire anytime I want but I love what I do, so I haven’t. I do not which to badger or belittle one another. I am interested how 2 successful people can be on totally different spectrums.
@Q Wins – California is the 8th safest state when it concerns gun violence. Of the 10 states that have the highest gun violence, 9 are red states, 13 of the top 15 being red states. Yet, orange makes no mention of this. The state with the most gun violence? Once again, Alaska.
https://www.statista.com/statistics/200445/reported-violent-crime-rate-in-the-us-states/
https://www.usatoday.com/story/news/nation/2018/02/21/states-most-and-least-gun-violence-see-where-your-state-stacks-up/359395002/
@Q Wins – I don’t know why you hate California so much. Much of this countries food comes from CA. 16 crops from CA alone. We provide the same GDP as the bottom 25 states. We also provide most of the technology you are using. To prove that you are in a cult. Cult leader said that Jerry Brown was a complete failure. Jerry Brown came into office with a multi billion $$$ deficit. According to the Wall Street Journal, he left with a $6 billion surplus. You see? You probably think the WSJ is part of the deep state because cult leader told you to not believe facts or fact checkers.
https://www.wsj.com/articles/jerry-browns-legacy-a-6-1-billion-budget-surplus-in-california-1515624022
https://i.postimg.cc/Y2NWQrV1/I-hate-ra5928.png
@Deplorable you are a liar
If Trumpnazi wins again kiss your pensions, Social Security and Medicare goodbye.
Ahahaha U must not have any 401k retirement plan
Sky is falling sky is falling
@bingo_fuel CBS does it to me to
@Old Aunt Zibby how did Obama & Bidens Shovel Ready Jobs go? Oh that’s right they bailed out the Failed Banks that were “To Big To Fail “. Kind of ironic.
@Jim Battersbee What is moral about abortion?
The rich get richer and the poor poorer! Trump’s tax cut cost those of us in lower and middle income brackets and benefited the ultra wealthy. That’s why the stock market is doing so well; these ultra wealthy are putting their newfound funds into it. It remains to be seen how all this will eventually work out. Personally, I think too much credit (and blame) is given to presidents for the performance of the economy. It’s not like the effects of what an administration does can be immediately be seen. These things play out over time.
The stock market is doing so well because the Federal Reserve has been printing money – LOTS of money – since 2018. At any other time, it would be called quantitative easing but now they are calling it something different. They tried to slow down the printing towards the end of 2018 but the stock market dipped alarmingly, so the Fed went back to printing money. And much of this money has wound up on Wall Street.
If there is downturn in the economy or a problem in a major economy elsewhere in the world, the US is in trouble. The Fed cannot do anymore ‘quantitative easing’ so they have nowhere to go.
We already know the results of trickle down economics: the rich get richer and regular folks get screwed. Trump has blown up the deficit with his permanent tax giveaways for the 1% and now he’s pushing to gut healthcare, education, social security, food programs and other services for the working class.
And yet Republicans continue to blindly follow him. The theory of ‘trickle-down economics’ is a false theory; it doesn’t work.
Trump shut the government for 34 days and drove more than 800 thousand people out of their jobs. They won’t forget that when they walk into the voting booth in November. The story of our economy has two sides.
@Patricia roe lol yes after you have a big ressesion jobs always bounce back but its not really a gain until you get to pre ressesion levels. And again what does minimum wage matter when average hourly wages is now 28.29 the highest in the world. And Real median household income quadrupled under Trumps short time vs Obama whole term.
@ Rich B….. Man you hit the nail on the head! You presented facts and even a link to back them up. Well done sir! But sadly facts mean nothing to the sheep that follow MSNBC. People need to wake up and realize these aren’t journalist reporting facts, they are commentators offering opinions and do not back up any of their claims with facts.
@Rich B Idiotic, that’s the AVERAGE. Not the medieum. FALSE!
@Mark Cross I was just about to comment on that lol…glad someone else caught on to it. Alternative facts @Rich B and @Vince Barker
The strong stock market is only helping the plutocracy who own most of the stocks, and pays the least amount of taxes.
@Sp’s All about Travel In the last 3 years my wages increased by 2.00 an hr. I am in a contract it’s not that easy. A homelessness has increased especially in States like California because of liberal policies and cost of living being so High! Remember when Obama said we cannot bring back jobs that already left the country? Well…. https://www.forbes.com/sites/chuckdevore/2019/03/11/trumps-policy-magic-wand-boosts-manufacturing-jobs-399-in-first-26-months-over-obamas-last-26/
@Sp’s All about Travel … JS https://www.nbclosangeles.com/news/local/us-homeless-population-grows-driven-by-california-spike/2279424/?akmobile=y&akdevice=androidphone&sslEnabled=true&#aoh=15780088151498&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s
cleptocracy
@Brian Bianco
The wealthiest 10% of Americans, own 84% of the stocks, including retirement plans.
@Ryan Beck can you please cite where you got those numbers from? Thank you.
Perhaps most Americans don’t want to work two or three jobs for crap pay, no benefits and no room for advancement. *BERNIE 2020*
@Bob Smith Nobody has offered you any free stuff. But anyway, are you against free stuff..? Sounds like a great deal to me.
No kidding, yeah? Besides, they don’t count Uber/Lyft drivers or online supplemental earnings as a ‘2nd job’
Bernie isn’t 💩
Myself and 1500 other employees at a steel mill in the Detroit area are losing our jobs. Trump said he was reviving the steel industry. Trump is so out of touch with the real American.
And …you’re going to vote for him again….right ??? and…get screwed again in round 2 !!! good luck !!!
@Deplorable
Cite your sources.
@Deplorable
Why do want zero transparency when it comes to our elected officials? You just trust government employees that much?
@Deplorable lol
Ask yourself this. Are you better off as an american before trump made you great again today? Did obama embarrass you everyday like trump does.
Obama went waaay past just being an “embarrassment”. (Will go down in history as being most loved by our foes and enemies.)
@Lars HaderThe main provision in Obamacare “The individual mandate” was repealed when Trump passed his tax cuts in 2017. https://fortune.com/2017/12/20/tax-bill-individual-mandate-obamacare/
@Rich B Your right, individual mandate was repealed but ACA is stil in place, but your main point was “Since repealing the main provisions of Obamacare under Trump over 90% of Adults have healthcare coverage in America.”
The largest decrease in uninsured occured after ACA was put in place. Uninsured rate rate has stayed fairly static under Trump, in fact it has gone up marginally. Your assertion that uninsured has gotten better since mandate was repealed is a lie.
https://www.cdc.gov/nchs/data/nhis/earlyrelease/insur201905.pdf
@Ed Dursky You mean Putin likes Obama over Trump. LOL
@Lars Hader Fair enough I get your point.
The average income for all of these so called jobs is $18,000 a year just barely enough to live on, and many, if not most, of those jobs are in fast food without benefits or healthcare.
These jobs are mostly part time and people have to work two or more jobs just to make ends meet while 83% of the stock market is monies from the top 1%, and the rest is from millionaires and the few average workers that can afford to buy stock. The market boom does not benefit the average Joe in any way.
Only a fool would believe that a mega millionaire is working for them.
@Rod Allen I didn’t get this information from MSNBC for one, in fact they didn’t even mention this number at all, and secondly I didn’t say median household income, I said, “the average income for these new jobs” there’s a difference. Next time read carefully before jumping the gun.
@Rod Allen Ever heard of the ‘grade curve’, moron? 🤪 The 1 – 10% of rich-to-super rich Americans’ incomes go sky high, it pulls UP the average median income… hence the number. And Uber/Lyft drivers don’t count as a job… Also, only about 33% of Americans work full-time jobs – that’s a disgraceful number. The credit card delinquency numbers r up… the homeless population in US is rising… unemployment is at 3.6% but that’s the benefits filing rate – the actual rate is around 10%… But u live in Strawberry Fields, where ‘nothing is real’…
No one should have to work three jobs to support themselves…
People that can’t afford to put food on their plate loves him. I am completely stunned and can’t understand why?
@Tony Rebel My Canada is fantastic. Love my country
Americans please give president Obama some credit because, Obama left office with a healthy growing economy, Bush left the u.s. economy to Obama tanked .
@Oba*** Man I can agree with you on that. I was not a fan of Bush either. I was referring to the impact on the stock market when the planes hit the towers. Thanks for being civil- I like having adult dialogue and try to understand differing views.
@Deplorable Maybe you are not old enough to remember 2008, the last thing Bush did was give the historic massive bailout to the banks.
The first part of your argument is correct – “Obama left office”.
@Vince Crain Hi Vince I remember Bush bailed out banks and Bush also bailed out AIG their employees partying on the money.They have them on video.Plus Bush didn’t keep records all the money he use for these bailouts.✌
The president is a crook, all he knows how to be successful is by cheating or stealing from people.
@Annie how about you back that accusation of with facts. Bet you cant!
I have a serious question: Is TDS just a naturally occurring ailment or is most of it drug induced? (I kinda already know the answer. Haven’t met a leftist yet that didn’t suffer from at least one painfully obvious mental condition. Add drugs and alcohol to the mix and the results are simply compounded to produce an addled mind…so perfectly displayed by – YOU.)
Unfortunately you are correct.
@Vince Barker How do you know he’s a billionaire? Have you seen his most recent tax returns?
@Ed Dursky I have a serious question. How stupid do you have to be to be conned by a barely coherent moron who can’t read a teleprompter, can barely string two sentences together, who squandered his Daddy’s fortune, declared bankruptcy 6 times and couldn’t even make money running a casino in the 1980s?
Trump’s supporters don’t care they were lied to. You can’t tell a cult any difference.
@fsf dsfa so, let me get this straight. It’s ok for Faux Entertainment, Repukicunts, the Humpster himself, but Rachel isn’t clear on what she said, it’s NOT? Btw, they didn’t win. Remember that?
@Onair Carna Yes, remember that you don’t really know what you are talking about. Trump university was a Real estate seminar like rich dad poor dad, so what? And liberals offten just repeat false accusations but never know the conclusions of the investigations. For example it was determined that Trump charity did give Veteran groups millions.
Trump Gave Millions to Vets Groups After Media Report About Donations
https://www.nbcnews.com/politics/2016-election/trump-gave-millions-vets-groups-after-media-report-about-donations-n583566
@Rich B Here’s a recent one. Even though I know you’ll deny it. Atlease that’s the norm with his supporters. He said he had never met parnas or furnus the 2 that are awaiting trial as I type this. Then all of a sudden pictures of him and the 2 of them started popping up. Here’s another, has Mexico paid for the wall you and others were yelling about?
@Rich B I avoid those who lie to me. Lie once, I guarantee they’ll do it again.
@Onair Carna I specifically gave you data on “ordinary Americans” aka the middle class. I can’t help if you choose to deny reality because it doesn’t fit an anti Trump narrative. I say stop the hate and get out there and get that paper.
Ronald Reagan pulled a similar scam: going into debt for short-term gains. Burrow against the future of our children, to the tune of a Trillion Dollars a year, and things will look good to those who don’t care about the future.
What do you expect, most Republican voters are over 50 and won’t be alive to see the bill come due. Kick the can down the road like always…
and what was the deficit under Obama? I will educate you 19.4 trillion. Obama added over 9 trillion during his term and did not have to deal with the impact of 911. Sure- lets put a socialist democrat in office and add another 40+ trillion. To lower the deficit we need to change the entitlement programs and stop supporting the world. I find it refreshing that we have a business man in office that actually knows how to manage money. one example is NATO. Trump has added 10’s if not 100’s of billions to U.S. coffers by making NATO partners pay their fair share. take that x100 and maybe you can understand what he is actually doing. Stop watching MSNBC- these are opinion articles, not facts.
what about Obama adding over 9 trillion to deficit as a democrat. I guess they were just kicking the can down the road. Your remark is uninformed and laughable.
@Vince Barker you mean when George W Bush gave us the Great Recession, and gave Wall Street a multi billion dollar bailout named TARP? You mean when Trump has exceeded Obama’s additions to the federal debt in the same 3 years? You mean when Trump promised his 2017 Tax cuts would pay for themselves, but are now projected to fall over $10 trillion short over 10 years? You mean when Trump gave $500 billion to Wall Street in September or $350 billion over the current 6 months to US Bond Markets that have been screaming recession for 2 years? You should actually educate yourself, because you can’t even hit a reply button when you cry and make things up. And btw, NATO getting more money from allies hasn’t cut our funding for it. Stop making stuff up snowflake.😂😂😂
Trump’s claim (in all caps) that the Democrats are going to tank the economy are as valid as most of Trump’s claims – about 95% lies.
I just hate how the media does not hammer what’s going on. We need this every day to expel the lies
“We need a government who works for ALL people, not just the 1%!” -If you don’t know who this quote is by screw you.
@PR Fitness I would LOVE to see Bernie win the nomination and would vote for him in a heartbeat. That said, The DNC won’t put him in the running, again. We wanted him then and we want him now but I don’t think they will ever put a candidate like him near the nomination. He’s far too good and far too dangerous to their corporate masters.
Brian Warshow Its not the DNC. Elites are the ones.
@Ice 247 I agree. However, the DNC proved to be quite elitist last time when they pushed Hillary on us. We see how that turned out. Bernie would destroy Trump and then turn his attention on the Elites. The DNC won’t let that happen. You’ll get Biden weather you like it or not. ha ha
Tax cuts for the rich, half a trillion for space force, farm bailouts … Running up the deficit
Space Force, go ahead and try to say it without laughing, I dare you.
It’s simply not possible.