Household Income Jumps To All-Time Highs Under Trump — Why Isn't This Big News?
S E E D E D C O N T E N T
Economy: Median household income is up more than 4%, the economy is growing fast, optimism is at decades long highs. Not that you'd know it, since the press is too busy trying to drive President Trump from office.
Inflation-adjusted median household incomes in July hit $62,450 according to the latest release from Sentier Research . That's the highest level since Sentier started tracking this more than 18 years ago. And if you combine Sentier's numbers with annual Census data, median household income is at all-time highs.
More interesting is the fact that median household income has shot up more than 4% in the 19 months since Trump took office. It had been flat over the previous year and a half. Over the course of President Obama's entire eight years in office, median household income climbed a mere 0.3%, Sentier data show.
Overall economic growth is accelerating as well, after years of Obama-induced stagnation. On Wednesday, the Commerce Department boosted its estimate of Second Quarter growth to 4.2%. That means average growth for first half of the year was above 3%. And if it continues strong in the third quarter — as appears to be the case — chances are we will see growth for the entire year at or above 3%. That would be the first time since 2005.
This, too, is a sharp turnaround that just happens to coincide with the Trump presidency. In Obama's last year in office, GDP growth was an anemic 1.6%. The growth rate dropped in each of the last two quarters of that year. And economists were everywhere telling the public that 2% was the best we could do.
Perhaps that's why polls are showing the public's mood better than it's been in many years. Examples:
- The IBD/TIPP Economic Optimism Index surged to a 14-year high in August. (The September reading comes out next week.) The IBD/TIPP poll also found that Americans are more satisfied with the direction of the country than they've been since 2005.
- The Conference Board's Consumer Confidence Index just reached an 18-year high at 133.4. The month before Trump won the election in November 2016, it was 98.6.
- The Conference Board also reports that job satisfaction is the highest it's been since 2005.
- A survey by Express Employment finds that blue collar workers are more upbeat about the direction of the economy than the general public.
Whatever one's view of Trump, this is undeniably good news. After years of "unexpectedly" underperforming growth, the economy is giving every indication that it is returning to its vigorous norm.
But instead of heralding this news, the mainstream press either ignores, downplays or tries to explain it away. As we noted in this space recently, The New York Times and others keep trying to claim that the current boom was simply the continuation of growth set in motion during the Obama years.
There's a simple reason for this. The press is singularly fixated on bringing down Trump at all costs. Since good economic news will help Trump, it must be overlooked.
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"Why Isn't This Big News? "
Because it's good news for the "Many".
Only bad news about the "Few" is actually news worthy.
Household Income Jumps To All-Time Highs Under Trump — Why Isn't This Big News?
It is BIG news, I hadn't heard, I was out shopping.
Because fat fuck can't get out of his own way.
those damn russians are destroying our country.
it is a disgrace to the office of the presidency. how much more of this will we allow?
The numbers are a lie. Propaganda.
Seems the far right wing has been screwing with a lot of numbers and facts lately.
Well, not totally...what the article and seeder fail to disclose about that great 4% since shit for brains Trump took office was that household income dropped like a rock and this.is a natural recovery.
The BEA shows that.
Very nice example of cherry-picking by dates so I can play that game, too. In the last two years of Obama's presidency, median household income increased from $54,398 to $59,035* or a 9.25% -- i.e., over twice the rate the 4% rate cited above since Scumbag took office.
But, there's something fishy (isn't there always with this NTer's articles?) about this data from Sentier. It claims to be taken from July 2018 income data obtained by the Current Population Survey of Census Bureau but if one goes to that website the latest data tables for family income only go to 2016.
*
Not quite so rosy. Here is another angle:
Mmm. This dooesn't look so good...@See the dip on the right? That's when Donny took office and then it recovered to the trajectory already set by Obama...the facts are there and from the same source.
Again, you've been had by ypur own.
That seems to be a feature, not a bug, in the offerings from this NTer.
These are getting more fun by the day, especially after the NT'er tried to tell me their 401k was a demand brokerage account. I'm still laughing
And neither are demand brokerage accounts. You can make changes in how your 401k or your IRA trends, but A) You can't trade individual stocks, you are locked in a group. At best you can say "I want more Pacific Rim and less Canadian oil....and then they slide you more to the Pacific Rim group, "if it's Tuesday, we're buying Asian Industrial" but you can't tell them to buy Geeley Motors.
I used to believe you when you discussed markets, now I know how much you don't know and tried to bullshit your way out of.
Notice nowhere in there does it say you have individual choices? You buy shares of a group of stocks or other investment strategies but you cannot pick individual stocks....And the only difference between a Roth IRA and a 401k is that you are tax deferred on one and post tax on the other, one doesn't transact any faster or slower than the other....and you aren't "trading" you are moving from one sheep group to another. And since they are 401 and Roth you have even more restrictions on you.........Stop trying to bullshit your way out.