Hinderaker Forgets That Trump Touted The DJIA, When It Measures Only The Top 1% Wealthiest’s Well-Being, In The US…

So — in a display of seriously advancing… senility, tonight Hinderaker whines that government labor statistics… get (properly, and normally) adjusted, from time to time. They represent about 200 million people, afterall. It has happened dozens of times, under Bush 41 and 43 — and a few times under Tangerine. [Even Saint Ronnie saw it occur on his watch.]

But to hear John tell it, this is all a vast, but nearly instantaneous “leftists’” plot — he seems to claim we control all federal governmental agencies… (only in the doddering old fool’s addled mind, that is).

Indeed, I wish to take his in another direction: John evinces an even more salient bit of myopia here (as ever). He cheered Tangerine’s recitation of every new Dow high water mark, claiming “the Trump economy” was going gang-busters.

But in fact, only the top 1 per cent or so ever feel any real tangible benefit from a rising stock market. [Fewer than 10 per cent of Americans own significant amounts of stock, at all.]

And As of 2018, the top 1% of US households owned 58% of all stock market wealth.

The US economy lost 2.9 million jobs by Trump’s last year. The unemployment rate increased by 1.6 percentage points to 6.3 per cent by the end of his term. The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016. The number of people lacking health insurance rose by 3 million. The federal debt held by the public went up by over 33 per cent, from $14.4 trillion to $21.6 trillion.

So — when measuring by almost any real lower-to-middle US class metric, Trump’s economy was… a disaster.

John should really sit down and shut up.