America’s economy is doing well, right?!? Just listen to the news! “Unemployment levels are at all-time low!” “‘Stocks keep shattering record after record.” “We are in great shape!”
But when I listen to people around me, I hear a different story. I hear people who are working two or three jobs, yet are struggling on a day-to-day basis. I hear people who have to decide between buying medicine, or eating. Can they pay for heat, or should they pay their rent or mortgage?
With an overabundance of data out there, how we interpret this data is critical. The linked article clearly demonstrates that there are actually two economies: The Top 40% and the Bottom 60%. (And I suspect if it was further broken out, it would tell an even more troubling story.)
Look at the graphs in this article. As we discuss budgets in our own towns, states and on the federal level, we must keep this divide in mind.
https://www.linkedin.com/pulse/our-biggest-economic-social-political-issue-two-economies-ray-dalio/