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Tue Nov 6, 2018, 09:43 AM

I heard someone on MSNBC today reference the "hot economy" [View all]

It was in the context of how counterproductive it was for Trump to be burying taking credit for a great economy underneath all of his racist immigration fear mongering. Every time the media uses that now tired meme they are carrying water for the Republicans, stressing their talking point for them when they can't make it themselves.

But it is worse than that. This is not "a hot economy." We have a halfway decent economy, almost exclusively due to Obama's rescuing the U.S. from the Great Recession, that is on a unsustainable tax cut for corporations and the rich, crack cocaine high. Unemployment figures may be low but that is irrelevant when tens of millions of American households are still struggling to get by, living from pay check to pay check and unable to save money for even a the slightest emergency.

Overwhelmingly corporations did not pass tax cut savings on to their workers, and even the one time bonuses some of them did give out are long gone while the tax breaks they still enjoy stretch on unabated. CEO pay still is going through the roof while average earnings still are virtually stagnant. Stock prices surged initially, in part from all the money companies poured into stock buyback, but very recent losses have left the DOW flat for all of 2018. Meanwhile the federal deficit is rising faster than a storm surge, looming large in all of our futures.

Meanwhile no one is asking, "If this is a hot economy, what will the next cold economy look like?" Everyone knows it is coming, most likely sooner rather than later. Economic expansions do not continue indefinably, and ours is already overdue for a significant "correction". It is criminally complicit for the media to buy into glowing Republican claims of a "hot economy". Not for most Americans it isn't, and distant storm clouds are already gathering

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