From Common Dreams: Trump's Stock Market and Un-Shared American Prosperity

The stock market is up, but what does that have to do with national well-being when the economy is so unequal and democracy so corrupt?

By TIM KOECHLIN

The right-wing spin machine lately has been making much of the “booming” stock market. Stuart Varney, a long-time Fox News and Fox Business bombasticator, declared recently that there has been a $5 trillion increase in “the nation’s wealth” since Trump’s election. Varney's audience—the idiotic hosts of “Fox and Friends”—were left agape and aghast.

“Why isn’t the media covering this?!” co-host Steve Doocy wondered. 

On Saturday morning, Trump tweeted: “…Highest stock Market ever, up $5.4 trill.”

So what? This “huge number” (Varney’s words)—$5 trillion!!—is clearly meant to suggest a stunning (and scandalously under-reported) increase in “our” prosperity and economic well-being. But this conclusion simply does not follow from this datum. This commentary is deceptive and disingenuous, and its implications are not true. It’s fake news, to coin a phrase.

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