A recent article about the state of the American wallet started me wondering just what people were thinking in terms of how all the bonuses, wage increases, and various other incentives were going to affect their lives. To be sure the media upped the “woe is us” hyperbole. A slap in the face
compared to what the elite were getting in various forms.
So what happened to those bonuses and increases? Did anyone invest or save those “freebies?” It’s nearly a sure bet those dollars went right back into the economy paying bills, new purchases and acquisitions, and little if any invested for future growth. Any takers on the almost sure bet?
So now that the DOW has continued to rise more than 31% in spite of all the doomsday predictions, and those bonuses have long since disappeared, people find themselves back where they started. Still living paycheck to paycheck, with little to show for increases in the income.
Human nature is what it is. What’s the bottom line? If you don’t know how to handle money, the tendency is to remain at a level you’re comfortable with. Everyone has read the accounts of lottery winners, or anyone that has suddenly come into a large sum of money. Within five years something like 70% are either bankrupt, in jail, or maybe even dead as a victim of fraud and/or deceit.
And this is important because why? For no other reason than there are those who will do their best to turn it into a plot. The bonuses, wage increases and all is just to deceive the public. To believe it is all a sham to get President Trump elected and then sweeten the deal putting more income in pockets.
But wait! As so often happens the bogus money managers, accountants, investors, consultants all singing some version of this song, have been paid to do so. It’s about the money and not the truth. The often repeated quote by Sean Hannity of Fox News that journalism is dead reeks of the truth. More important the truth is dead from the Mainstream Media.
So the more things change, the more they remain the same. What about that 31% increase in the DOW? Does that translate into the American wallet? You bet, and in many different ways. So let’s see how that impacts what’s next. As a rule change is not something that is warmly embraced. The recent elections and upcoming mid-terms are likely going to be a good example of that.
The radical left is determined to undermine any benefit perceived to have come from the current administration. It has gone beyond the politics and become a war of the two prominent political factions. Most disappointing it has become less and less about the people and decidedly of the political pocket. The “Fleecing of America” is in full swing.
So again, will the state of the American wallet continue to come up short? These are thoughts and not opinions. No expertise is claimed rather thoughts from observations. As a rather popular ad campaign asked, “What’s in your wallet?” Better yet, how much is in your wallet?