Nothing Changes – Mainstream Media Continues Rewriting Economic History

ELDER PATRIOT – Following an election where the mainstream media destroyed their reputation by going into the tank so completely for Hillary Clinton that it now is viewed as trustworthy by less than 10% of Americans you’d think they might try rebuilding that trust, at least for a while.  Not so as these headlines chronicle:

From the New York Times:

President Obama Is Handing a Strong Economy to His Successor

And, From Politico:

Trump inherits Obama boom

The president is handing his successor an economy that’s now the envy of the world.

With 95,000,000 working age Americans without work and only $155,000,000 people – including immigrants – working it’s hard to fathom what the mainstream media is using to gage the economy.

Even if there are only forty-five million Americans who want jobs but can’t find them that sets the real unemployment rate at 22.5%.  That’s depression level unemployment. 

The mainstream media is relying on the Obama administration’s unemployment report that does not take into account workers who have fallen off unemployment insurance because they have used all of their benefits.  Also, the report double counts displaced workers who are now working two part-time jobs.  Only 45% of workers now have full-time jobs.

What about those workers who do have jobs?  Since Obama took office, median household income dropped by $4,500 after being adjusted for inflation.  Had Obama achieved only the average recovery eight years that America had experienced after every recession since WW II, American families would find themselves making $17,000 more annual income.

Home ownership has fallen to a fifty year low.

And, let’s not dismiss the fact that Obama leaves America’s taxpayers more than $10 trillion dollars deeper in debt.

That is the real economy, the economic realities that American families feel and voted to change.

While it’s true that the stock market is at an all-time high that is more a function of two independent factors.  The crumbling world economy served to make the U.S. stock market the most attractive place for investors to park their money among even less desirable investment options. 

Also, the 4.9% rally since the election of Donald Trump is reflective of what always happens with the market – professional and institutional investors are the first to recognize and seize buying opportunities.  This rush by big investors is driving stock prices up.  In this case they are anticipating that Trump’s promises to lower taxes and reduce regulations will unleash economic growth.

The stock market is not an indicator of economic health that families can use to pay their mortgage or put food on the table. 

The only people who think that the economy represents an Obama success are people too young to have experienced a better America.

And, the mainstream media is once again hiding the facts and writing its own narrative to mislead the ignorant.   Is it just a coincidence or by design that the Corporate Globalists approve the mainstream media narrative?