The fake news corporate media have successfully used their propaganda machine to convince the public a surging stock market means the economy is doing great. Despite corporate profits being flat for the last four years, corporate stock buybacks (using debt), Trumpâs corporate tax cuts, and Federal Reserve easy money, have propelled the stock market to all-time highs. The Fed proved they are Wall Streetâs bitch by cutting rates with the market at all-time highs and unemployment supposedly near all-time lows.
This is an acknowledgement the âgreat economyâ is fake news. The economy is on the verge of recession.
The most overvalued stock market in history has reached a tipping point. Global economies, propped up with negative interest rates, are already in recession. The global trade war is hurting all parties and is pushing those countries most impacted towards drastic measures.
The multitude of stresses impacting the nation and the world are building up along fault lines created over decades of bad decision making, deferred action, political corruption, Wall Street greed, corporate hegemony, media propaganda, and willful ignorance by a dumbed down technologically distracted populace. Once the economy falters and the stock market crashes for the third time in twenty years, an earthquake of epic proportions will devastate the minimal savings of the working class and give rise to tens of millions of angry desperate citizens.
You nailed it. Like I wrote it myself.
Fedâs asset inflation has made banks and bankers rich, while working men and women get .5% on deposits. @dcjogger