Of all the landmarks in NYC, the one that has never fascinated me is the bull sculpture on Wall Street. I am sure if I dig thru my albums I may find the obligatory picture with the Wall Street road sign atop us. But I’ve never wanted to go back after our first visit.
I do care about our retirement funds, stock returns, and dividend income. A lot. What I don’t care about is the daily upheaval that forms the fabric of stock, bond, currency, and futures trading.
The connection between Wall Street and Main Street has been an irrefutable fact in the American story. Lower Manhattan represents the plight of little towns in America. Movies have been made, books have been written, and hours of news coverage on the connection drives our investment patterns. Right?
Breaking news...apparently, not!
We have officially entered a recession and the stock market is soaring. A pandemic is still raging. There is civil unrest. Millions have lost jobs. Many, many small businesses have shuttered. We are being propped up by the PPP loans and Wall Street is feeling ebullient.
The disconnect between the proverbial streets has never been more stark. That got Tarun and me talking about stock market trend under different Presidents. This graph says it all. Look when the market soars - under democrats!
And what about government expenditures measured by national debt? Bush grew the debt as much as Obama and Clinton combined. Add to that Reagan's record and realize that wealth evaporates into thin air as it trickles down.
Here’s something the republicans aren’t talking about - you know how much the deficit will increase to in Trump’s first term? To $23 trillion, that is equal to the economies of China, Japan, and Germany combined!! Let that sink in for a bit. Our debt is larger than the sum of those economies. That is how much we owe to others!!
Since Trump is obsessed about being the BEST president ever, he will wear the crown on the highest debt. So much winning for him, tears for the generations to come.
You see, by keeping the conversation on all lives mattering and the wall on the southern border, the GOP pushes the real news under the rug: that the republicans are a hazard to our health, safety, civil society, environment and the economy.
Gear up peeps. The Dems may be incompetent and comatose but they don't destroy like their conservative counterparts do.