Let’s take a look at how the average consumer is doing. I’ll call this typical consumer “Bubba” because I just read an article that claimed “Bubba’s doing better today than at any time since before the Korean War.” It disgusted me because I found it to be such a disingenuous set of lies wrapped in half-truths, all contrived to pacify the trickle-down peasants as that philosophy continues to short-change the middle class with its fake promise.
First of all, who cares about how Bubba was doing before the Korean War? That’s going back an awful long time to find a day the present could beat. It’s before my days, and I’m a grampa now. If you have to look back that far to find a time when Bubba wasn’t doing as “well” as he is today, you’re chasing a false narrative because working-class Bubba wasn’t even alive back then. Those pre-Korean-war Bubbas retired long ago, and frankly they are much better off today in retirement than today’s working Bubba.
So, I’m going to compare Bubba to how things were when next-to-retire working Bubba was young. Bubba’s real wages have not increased since the 1970s when he first entered the workforce mowing lawns to buy a bike. Yet, the income of the rich, whose grounds Bubba now tends, skyrocketed … just like Trump hoped would happen for the whole US economy under Trickle-down 3.0!
That’s a fact, except for the dribble of an increase over the past year, but I do mean “dribble” when you compare it to what the 1% have once again gained and to how flat Bubba’s wages remained for decades while his benefits declined.
Read the rest here: The Great Recession