Wages Are Falling. Wealth Is Surging. No Wonder Americans Are Unhappy.

THE NEW YORK TIMES: As Elon Musk became the world’s first trillionaire, workers are facing higher prices and fears of A.I.-driven job losses.

Two events from the past week help crystallize this strange, contradictory moment for the U.S. economy.

On Wednesday, the Bureau of Labor Statistics reported that the surge in energy prices had wiped out a year and a half of wage gains for the average American worker. On Friday, the public-markets debut of SpaceX made Elon Musk the world’s first trillionaire.

That stark juxtaposition helps explain why many Americans, in survey after survey, say they no longer believe the U.S. economy is working for them. A few people are getting fabulously, unimaginably wealthy at the same time that entire generations of families worry they will never be able to afford to buy a house, raise children or enjoy a comfortable retirement.

“I don’t think the stock market is necessarily causing” Americans’ pessimism about the economy, said Stefanie Stantcheva, a Harvard professor who studies public sentiment. “But I don’t think people are looking at it and are thinking, ‘Great, this means I’m going to do very well, too.’ It’s potentially reinforcing this feeling of ‘I’m falling behind.’”

Inequality is hardly a new feature in America. But the explosion of wealth at the very top is without precedent in U.S. history. At the height of the Gilded Age at the end of the 19th century, the richest handful of Americans had a net worth equivalent to about 3 percent of the country’s annual economic output, according to data compiled by the French economists Gabriel Zucman and Emmanuel Saez. Today, the fortunes of the same 0.00001 percent — about 20 individuals — make up roughly four times as large a share, equivalent to 12 percent of annual output.

Other economists, using different methodologies, come up with somewhat different numbers. But hardly anyone disputes the basic fact that the wealthiest few have made extraordinary gains in recent years. » | Ben Casselman | Ben Casselman is The Times’s chief economics correspondent. | Saturday, 13 June 2026

This is clear and glaring proof that Donald Trump is neither fit nor capable to lead the world’s leading and largest economy: the world’s hegemon.

The first lesson for any politician, especially one in a very powerful, leading position is that the economy must work for everyone — for the working classes, the middle classes, and the upper classes. An economy of whichever hue or stripe is always going to be fairer to some than to others. That is an inevitability, regardless of whether the economy is capitalist or socialist. But even so, it behoves politicians to understand that all people must get their fair share, their fair crack of the whip. When the nation’s wealth increases, especially when that increase in wealth is exceedingly substantial, then all should benefit, not just the favoured and blessed few at the top. Allowing such a scenario will be the harbinger of trouble and strife ahead. The people will tolerate this inequality for a while. In the short term, they have to. But their patience will run out at some point as sure as night turns into day.

Donald Trump would be wise to understand this. An ever rising stock market a sound and fair economy does not make! — © Mark Alexander

Is the US Economy Declining or Growing?

Chris Hedges gives us a realistic assessment of Trump’s brittle, dystopic, BS economy.

Trump in Ruins as He Faces Economic Nightmare

May 31, 2026 | Why has Trump forgotten the old political adage "it's the economy, stupid" in his policies? Trump’s policies have crashed the economy and led to wholesale voter suffering?

Popok is joined by financial expert and host of Wall Street Truthbombs Mark Malek for the answer.

US Borrowing Exceeds GDP: What Does It Mean for the Economy? | This Is America

May 6, 2026 | For the first time since World War II, the United States national debt has exceeded the size of its economy.

Now standing at around $39tn, decades of deficit spending have pushed borrowing to historic levels. The government is spending about $1tn a year just on interest payments. Economists warn the debt trajectory is unsustainable, with projections showing it will continue to rise.

Higher borrowing costs are already affecting Americans through mortgages and loans. There are also concerns that global investors could lose confidence in US debt markets. If that happens, it could trigger a financial crisis with far-reaching consequences. So, how serious is the risk, and can Washington bring the debt under control?

The US Empire Just Hit a Dangerous Turning Point | Jeffrey Sachs

May 12, 2026

Inflation Accelerates After Weeks of War in Iran

THE NEW YORK TIMES: The Consumer Price Index rose 3.8 percent in April from a year earlier, as increasing energy costs replaced tariffs as the driver of higher prices for Americans.

Consumer prices in the United States rose last month at the fastest rate since May 2023, as sharp increases in energy costs caused by war in the Middle East made life more expensive for American consumers.

The Consumer Price Index rose 3.8 percent in April from a year earlier, the Labor Department reported on Tuesday, up from a 2.4 percent annual increase before the conflict started in February and a 3.3 percent increase in March.

The increase was driven largely by energy prices, up 3.8 percent since the previous month. But the “core” index, stripping out volatile food and energy prices, also rose 2.8 percent over the year in April, up from 2.6 percent in March. Live Updates » | Lydia DePillis | Tuesday, May 12, 2026

Trump’s Economy Is Failing; Trump In Denial.

Steve Schmidt explains.

U.S. Employers Cut Jobs in Sign of a Shakier Economy

THE NEW YORK TIMES: A weaker-than-expected report for February showed a decline of 92,000 jobs, and a rise in the unemployment rate to 4.4 percent.

Job growth fizzled in February, a sign of unexpected weakness in the labor market.

Employers cut 92,000 jobs in February, the Labor Department reported on Friday, and the unemployment rate rose to 4.4 percent. The job losses cut across nearly all major sectors, including health care, which was weighed down by a nurses strike in California.

The report dimmed the picture of the labor market and all but shut down the prospect of a resurgence in growth after an anemic year of hiring that was weighed down by economic uncertainty. Many economists had forecast that employers would shake off their reluctance to hire this year.

Here’s what else to know: Live Updates » | Sydney Ember | Friday, March 6, 2026

The Truth about the Jobs Report, Wages, Layoffs and Trump's AI Economy in 2026

Feb 12, 2026 | Trump claims the U.S. economy is stronger than ever. The stock market is soaring. Billionaire wealth is surging. The unemployment rate appears low. But is America actually prospering? In this deep-dive analysis, we break down the latest jobs report, including massive downward revisions that wiped out over a million previously reported jobs. We examine why last year’s job growth was far weaker than first claimed, why January layoffs spiked to the highest level since 2009, and why hiring has nearly ground to a halt.

ANTHONY DAVIS can be supported on Patreon here.

Bernie: Trump Is ‘Crazy’ or a ‘Liar’ If He Thinks This Is a Great Economy

Feb 11, 2026 | “I wonder whether Trump is completely crazy and delusional or just a pathological liar—if this is the greatest economy in the history of the world, God help us,” says Sen. Bernie Sanders on Trump’s economic spin.

Thom Hartmann: The Fall of American Economic Power: Is Trump the Turning Point?

Jan 30, 2026 | Under Trump, tax giveaways to the wealthy and soaring debt replaced economic stability and sacrificed the nation’s future for short-term political gain.

US dollar Sinks to Its Lowest Level in Four Years

THE GUARDIAN: Dollar drops against basket of currencies after Donald Trump brushed off concerns over slide

The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.

The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.

“No, I think it’s great,” Trump said of the weaker dollar, during a visit to Iowa to promote his record on the economy. Asked whether he was concerned about the currency’s slide, he told reporters: “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”

The greenback has tumbled by 10% over the past year, while Tuesday’s fall was the largest one-day drop since last April, when Trump announced his sweeping tariff plans, marking a global market sell-off.

The dollar has now touched its lowest level since February 2022, after unpredictable US policymaking, including Trump’s recent threats to take over Greenland and impose further tariffs on European allies, unleashed fresh geopolitical shocks. » | Joanna Partridge | Wednesday, January 28, 2026

If America must go on suffering under Trump’s voodoo economics, it could well soon be on life-support! I have said it before, and I will say it again: Trump doesn’t understand even the basics of macro-economics. Egocentric, megalomaniacal, rapacious businessmen usually don’t. Especially businessmen skilled and talented enough to be able to bankrupt FIVE, arguably even SIX, casinos! For Americans, the future looks bleak. — © Mark Alexander

Donald Trump's Tariffs Cause Bankruptcies to Soar to 15-year High

Dec 30, 2025 | Jesse discusses reports from The Independent and The Washington Post regarding the alarming number of bankruptcies in 2025 compared to 2024. This trend is expected to persist into 2026, as the full impact of Donald Trump's disastrous tariff policies is felt on the U.S. economy.

The Economy Survived 2025, but Many Americans Are Reeling

THE NEW YORK TIMES: A feared recession didn’t materialize, but unemployment rose, wage growth slowed and affordability challenges are mounting.

After a chaotic year filled with trade wars, market gyrations and the longest government shutdown in history, the U.S. economy has, once again, proved more resilient than many forecasters feared.

But “resilient” isn’t quite the same thing as “good.”

Many Americans are entering 2026 worried about their jobs, stressed about their finances and unconvinced that things will improve in the new year.

The flow of official economic data resumed last week after a prolonged delay caused by the government shutdown. The reports were muddled by technical quirks related to the shutdown, but on balance they suggested the economy remained stuck in the same uneasy limbo it was in before the data blackout began.

Job growth was decent in November, but unemployment rose. Retail sales were solid, but wage growth slowed. Inflation cooled, but remains elevated. » | Ben Casselman and Colby Smith | Monday, December 22, 2025

When it comes to economics, Donald Trump is incompetent. There is one very important fact that Trump never learned. It is this: a well-run economy should work for ALL, not just for the SELECT FEW, for the WORKER as well as for the BOSS, for the POOR as well as for the SUPERRICH. — © Mark Alexander

Trump Says that the US Economy Is A++++

He’s right but only for his billionaire chums. Bernie Sanders explains.

Why Did Trump Give America’s Struggling Economy an “A+++”?

Dec 10, 2025 | Trump gave the economy an “A+++” even as Americans struggle to pay for groceries. Steve Schmidt explains Trump’s insanity and why MAGA is losing ground with voters.

Trump is a corrupt clown and his economy is sh**, except perhaps for the superrich. Kick the B out of the White House asap! Trump belongs in JAIL! — © Mark Alexander

Out-of-touch Trump Talks Up Economy among Sycophants and Stars in Miami

THE GUARDIAN: President jets in to speak at ritzy American Business Forum as millions see their food aid slashed – crisis, what crisis?

It was the week in which Republicans took a beating at the polls, the government shutdown became the longest in history, and 42 million people across the country, including 3 million in Florida, saw their federal food aid slashed.

But in the alternative reality of Miami, where tickets to an overwhelmingly conservative business conference headlined by Donald Trump cost up to $1,990, and billionaires from Saudi Arabia rubbed shoulders with equally wealthy American tycoons such as Jeff Bezos and Ken Griffin, those events created barely a ripple.

Instead, in a gesture that appeared almost to mock the widening disparity between the city’s haves and have-nots, organizers of the America Business Forum cooked up a little treat for attendees: a $50 gift card to spend on food to sustain themselves while they listened to their president congratulate himself for a “golden age” he said his “economic miracle” had delivered.

Advocates say the move, along with the high-budget opulence of the conference itself, was an ill-timed insult to more than a half-million Miami-Dade county residents who just saw their own ability to buy essential groceries for their families kiboshed by the gutting of the Supplemental Nutrition Assistance Program (Snap). » | Richard Luscombe in Miami | Friday, November 7, 2025

Donald Trump's Economy is FAILING

Nov 6, 2025 | Despite Trump's constant remarks about the great state of America's economy, the reality of the situation is dire. Steve Schmidt looks at the state of the American economy and why Trump's lies will have a terrible impact on our country.

Trump Treasury Secretary Poses Biggest Threat to America's Economy

Oct 27, 2025 | As Trump's tariff war continues, goons like Scott Bessent are determined to spread lies across American media. Steve Schmidt looks at the ongoing tariff decisions and urges voters to remove this political regime.

Emily Galvin Almanza on People’s Rights in the Face of Trump’s Private Army and Collapsing Economy

Oct 27, 2025 | Emily Galvin Almanza joins Anthony Davis to discuss people’s rights in the face of Trump’s private army, as ICE ramp up their indiscriminate kidnappings on the streets of America. Plus, the retribution campaign against James Comey, John Bolton and Letitia James, and the true meaning of the demolition of the East Wing of the People’s House - only on The Weekend Show.