ML-Implode News - Don't buy the lie that Obama's leaving behind a healthy economy

These geniuses remind me of Mark Twain trying to palm off the idea that "Wagner's music is better than it sounds." If the economy is so all-fired ducky, how come Americans just tossed out the party that's claiming credit for it? The truth is that the Obama years have been among America's worst for the economy. His eight years will go down in history as the Great Recession, even though for much, even most, of the span, we weren't technically in a recession.
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Except for pumping up Wall Street and producing what Trump calls a "false economy." The recent declines in the unemployment rate are due less to the uptick in employed persons than to an increasing number of persons leaving the labor force.
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And the recent record Dow Jones average? It's pumped up by the Federal Reserve. It's nowhere near a record if the Dow is calculated in the most traditional measure of value. The gold value of the Dow peaked way back in 1999.

All this is why Bloomberg News has been reporting the "Rust Belt's transformation into the Trump Belt." It cites this week new research on "how bad things have become" in Michigan, Ohio, Pennsylvania and Wisconsin.

For older men in those states, Bloomberg reports, inflation-adjusted pay is below the level in -- wait for it -- 1979. That's two generations lost.

Relevant:

Don't buy the lie that Obama's leaving behind a healthy economy