Posted on 09/12/2023 11:22:50 AM PDT by JV3MRC
Stop complaining about President Joe Biden’s economy, Americans! You’re wealthier than ever! Yes, CNN reached new heights of gaslighting when it tried to sell that line with a straight face to readers.
CNN Reporter and in-house Bidenomics shill Matt Egan ran a false story riddled with utter nonsense. “Americans have never been wealthier,” read Egan’s headline. “Fueled by a resurgent stock market and rising home values, US household wealth hit a record $154.3 trillion during the second quarter of this year, according to federal data.” But as Heritage Foundation economist EJ Antoni bluntly put it, CNN’s framing was flat-out “wrong.”
The report CNN referenced — Antoni told MRC Business — “is measured in current dollars, meaning it’s not adjusted for inflation.” The reality is that “[t]he spending, borrowing, and creating of money by the government the last three years has caused prices to rise and created asset bubbles, like in stocks and real estate. That increases nominal wealth, but not real wealth.” [Emphasis added.]
In fact, Antoni explained, “[a]djusted for inflation, household net wealth is not at a record high today,” Antoni said. Household net wealth is actually down five percent “from the end of 2021. It is also nearly unchanged since the end of 2020, despite tens of millions more people working today.”
(Excerpt) Read more at newsbusters.org ...
bkmk
Tired of the PC gaslighting talk. Please call it what it is, A LIE.
If the gop were serious about contesting the elections, they would be playing this to the people who are struggling to live paycheck to paycheck and drowning in 20% debt, and say “Look—Biden is telling you, you never had it so good!” Then run on restoring the Trump boom years.
It's the old saw:
How do you hold a small fortune?
Start with a large fortune.
And though we had plenty of money,
There was nothing our money could buy.
Right. Thats why i took a pt job while living on SS.
CNN goes Judge shopping for and “economist”.
Ramp up the class warfare!!
I call BS!!
Fine, most of the mega-rich are Democrats anyway.
They want it, they got it.
But when they ratchet up the Class Warfare schtick, it’s meant to soak the “Bourgeoisie.”
“US household wealth hit a record $154.3 trillion”
75% of it held by Blackrock and the rest of the Cartel.
I am sure CNN is wrong, they meant whitey-American.
Hardly. The .gov has plundered our inheritances, bank accounts and health to finance our destruction by our enemies to whom they give our wealth under the guise of “aid” while stuffing their own pockets. Ironically, they’re the real slaves. If people woke up to them being the slaves, as they rely on us, the world would be very different.
By this measure Zimbabweans were incredibly rich with hundreds of trillions of dollars each. Maybe even quadrillions if they were going out to buy a loaf of bread.
America’s “poor” are wealthier than ever!
People were upset about “Obama phones.” I was upset in the 90’s when as a working professional could barely afford a cell phone, but discovered poor people in the 3rd world countries I went to were glued to theirs. “How do they afford them, and how do they pay for the minutes?!” That’s when I knew how badly we’d been ‘had.’ That was around the time sterilizing agents in vaccines were exposed as being used in the Philippines, causing a scandal few ever heard about.
Well heck... Every Zimbabwean is a multi millionaire.
Heck, I was a multi millionaire when I was in Chile....
Matt Egan sounds like Biden must be one of his script writers.
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