Sicilianthing

No matter what you think or Reich, the Math never lies... and Trump’s Tax bill was a criminal Sham, sorry to inform.


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OCT 15, 2018
Robert Reich: The Economy Is in Much Worse Shape Than It Looks

I keep hearing that although Donald Trump is a scoundrel or worse, at least he’s presiding over a great economy.

As White House economic adviser Larry Kudlow recently put it, “The single biggest story this year is an economic boom that is durable and lasting.”

Really? Look closely at the living standards of most Americans, and you get a very different picture.

Yes, the stock market has boomed since Trump became president. But it’s looking increasingly wobbly as Trump’s trade wars take a toll.

Over 80 percent of the stock market is owned by the richest 10 percent of Americans anyway, so most Americans never got much out of Trump’s market boom to begin with.

The trade wars are about to take a toll on ordinary workers. Trump’s steel tariffs have cost Ford $1 billion so far, for example, forcing the automaker to plan mass layoffs.

What about economic growth? Data from the Commerce Department shows the economy at full speed, 4.2 percent growth for the second quarter.

But very little of that growth is trickling down to average Americans. Adjusted for inflation, hourly wages aren’t much higher now than they were forty years ago.

Trump slashed taxes on the wealthy and promised everyone else a $4,000 wage boost. But the boost never happened. That’s a big reason why Republicans aren’t campaigning on their tax cut, which is just about their only legislative accomplishment.

Trump and congressional Republicans refuse to raise the minimum wage, stuck at $7.25 an hour. Trump’s Labor Department is also repealing a rule that increased the number of workers entitled to time-and-a-half for overtime.

Yes, unemployment is down to 3.7 percent. But jobs are less secure than ever. Contract workers – who aren’t eligible for family or medical leave, unemployment insurance, the minimum wage, or worker’s compensation – are now doing one out of every five jobs in America.

Trump’s Labor Department has invited more companies to reclassify employees as contract workers. Its new rule undoes the California Supreme Court’s recent decision requiring that most workers be presumed employees unless proven otherwise. (Given California’s size, that decision had nationwide effect.)

Meanwhile, housing costs are skyrocketing, with Americans now paying a third or more of their paychecks in rent or mortgages.

Trump’s response? Drastic cuts in low-income housing. His Secretary of Housing and Urban Development also wants to triple the rent paid by poor households in subsidized housing.

Healthcare costs continues to rise faster than inflation. Trump’s response? Undermine the Affordable Care Act. Over the past two years, some 4 million people have lost healthcare coverage, according to a survey by the Commonwealth Fund.

Pharmaceutical costs are also out of control. Trump’s response? Allow the biggest pharmacist, CVS, to merge with the one of the biggest health insurers, Aetna – creating a behemoth with the power to raise prices even further.

The cost of college continues to soar. Trump’s response? Make it easier for for-profit colleges to defraud students. His Secretary of Education, Betsy DeVos, is eliminating regulations that had required for-profit colleges to prove they provide gainful employment to the students they enroll.

Commuting to and from work is becoming harder, as roads and bridges become more congested, and subways and trains older and less reliable. Trump’s response? Nothing. Although he promised to spend $1.5 trillion to repair America’s crumbling infrastructure, his $1.5 trillion tax cut for big corporations and the wealthy used up the money.

C*****e c****e is undermining the standard of living of ordinary Americans, as more are hit with floods, mudslides, tornados, draughts, and wildfires. Even those who have so far avoided direct hits will be paying more for insurance – or having a harder time getting it. People living on flood plains, or in trailers, or without home insurance, are paying the highest price.

Trump’s response? Allow more carbon into the atmosphere and make c*****e c****e even worse.

Too often, discussions about “the economy” focus on overall statistics about growth, the stock market, and unemployment.

But most Americans don’t live in that economy. They live in a personal economy that has more to do with wages, job security, commutes to and from work, and the costs of housing, healthcare, drugs, education, and home insurance.

These are the things that hit closest home. They comprise the typical American’s standard of living.

Instead of an “economic boom,” most Americans are experiencing declines in all these dimensions of their lives.

Trump isn’t solely responsible. Some of these trends predated his presidency. But he hasn’t done anything to reverse them.

If anything, he’s made them far worse.

SilentGeneration Loc: Michigan

Radiance3

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Robert Riech is an American democrat political commentator who served the administration of Jimmy Carter, Gerald Ford, and Bill Clinton.

His progressive ideology is about consumption and redistribution.
He h**es the idea of Capitalism that thinks, creates, invents, produces, growth via the smart thinking brains of the Republicans.

Reich's idea of progressiveness results to exhaustions of wealth until the people goes violent like the brains of the brainless democrats at present, and all the r**ting people of the South and Central Americas, now all running to the US to seek shelter and commit crimes.

Sicilianthing

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Wrong Answer, I just told you in my opening line... no matter what you think about Reich, the math doesn’t lie.

Go back and read it again and then comment on the math, don’t shoot the messenger.

Radiance3

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You have no idea what economy is. Are you out of job right now? What do you do aside from putting up lots of complaints? Math? Do you even know what you are talking about? Specify them and I will explain to you in detail how it works.

Remember, ignorance is a hindrance.

Sicilianthing

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OMG, I just told you go back and read his whole assessment, the math is there, it’s real.

Knock it off.

Radiance3

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You sound like Maxine Waters.

Blade_Runner Loc: DARK SIDE OF THE MOON

Ha, Robert Reich???? Are you freaking kidding me???

Robert Reich's F Minus In Economics: False Facts, False Theories

Paul Roderick Gregory

I am appalled by the economic illiteracy encountered in leading newspapers, business magazines, and prominent web sites. Robert Reich’s Higher Wages Can Save America’s Economy – and Its Democracy (Salon.com) is only one of many examples. As a teacher of economics for over forty years and a co-author of a best-selling 1980s economics 101 textbook, I would have given Reich’s paper a resounding F, if he had submitted it for my elementary economics class.

Reich’s resume raises one red f**g: He is not an economist but a lawyer – a Yale Law School classmate of Hillary Clinton, who studied a smattering of economics for his PPE (politics, philosophy, and economics) degree at Oxford – a Rhodes Scholar no less. I am no formal credentials snob. Non PhD economists, such as Robert Samuelson, write very good economics. Robert Reich is not one of them.

U.S. Is World’s Most Competitive Economy for First Time in a Decade.

The U.S. is back on top as the most competitive country in the world, regaining the No. 1 spot for the first time since 2008 in an index produced by the World Economic Forum, which said the country could still do better on social issues.

Sicilianthing

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I have nothing to do with Waters, she can piss off and Die for all I care...

I seek the t***h that’s all and I’m not buying all the CRAP they program all of you with everyday.

Sicilianthing

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I said in my opening line, regardless of what you think about him look at the math...

Go back and read it again, You failed the Opener

Blade_Runner Loc: DARK SIDE OF THE MOON

Fuk the math. Reich is a hard core l*****t with an agenda. He doesn't do math, he juggles numbers.

Sicilianthing

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Wow ok

Radiance3

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How is your math Sici? Does your equation balance?

I ask you to present specific problem, so that I can show you how it works.
All you do is complain, but you mind is so disorganized.

Sicilianthing

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I’ve posted it countless times.

The Economy is fragmenting
Whole sectors are shutting down
Stores are closing
Layoffs are pending
No ones income has really gone up to adjust for inflation which is totally out of control
The GDP report is a sham
The employment report is a Big Phat Ph**king LIE !
Bankruptcies are soaring
Shadow inventories are ballooning everywhere
The Foreclosures are rising as 7 and 10 year ARMS can not reset (do the math)
Housing unattainable
Homeless populations exploding in all cities
Credit card delinquencies, bills, loans all going into default and rising

You don’t know what you’re talking about ...

I can go on for pages to show you how bad things are getting, only a few sectors of the economy are insulated sorta and will make any real sustainable measures in 2018, 2019, 2020 and beyond.

There is NO Real REcovery from the 2008 meltdown, all the Wreckae and Toxic Assets from the past are coming back on line to be reckoned with.

The FED has sold you guys a Bill of Goods and the house of cards is coming down.

plainlogic

T***h be told, YOU, have bought ALL the crap the Dems/liberal media has showered everyone with. YOU'RE in denial, most likely not your choice, but that's how manipulation is, they manipulate, you follow.