DOW on track for the longest winning streak since 1897.
Joe Biden is killing Trickle Down Economics by drowing it in a sea of middle class wage growth and jobs. Reaganomincs is dead.
A sea of middle class wage growth and jobs? Here are the facts...until March of this year, wage growth significantly lagged inflation for more than 2.5 years (i.e. all of Biden's term in office since he ignited the worst run of inflation since Carter).
In addition, wage growth has significantly lagged expectations and data from 2020 shows real average wage has roughly the same purchasing power it did 40 years ago - way back when Reagan was President. So 40 years of wage gains were eaten up by inflation - when updated for the last 3 years, what do you think that's going to show when wages significantly lagged inflation during that time?
And it's actually worse for the working and middle class as what wage gains there have been have mostly flowed to the highest-paid tier of workers. Middle class wages are NOT keeping pace with inflation. Food, housing and energy prices, the things that eat up most of the working and middle class wages are all up way more than the inflation number indicates, and far more than wages. If you're middle class and think you're winning, you're not paying attention.
The Conference Boards leading economic indicators are down for the 7th month in a row. 11 of 13 recession indicators are in contraction while the other 2 are flashing caution - none of them are signaling expansion. Consumer debt recently reached an ALL TIME high, greater than the level seen in '07/'08 that brought the financial system crashing down and don't look now, but delinquencies are on the rise - the middle and working class are getting crushed right now.
Also, Reagan wasn't a "trickle down economics" guy neither was the first Bush. It's a made up term used by tax and spend Democrats that can't make merit based arguments.
Also, the DOW? What are you, 80 years old? Who pays attention to an equal weighted index of 30 stocks? It's up 7.5% this year, bonds are yielding 5.5+ right now.