The economic reality

The current claims of President Donald Trump regarding how strong the economy is are arrogant baloney based on his idiotic reliance on the stock market as an indicator. These are the actual numbers.

The richest 1 percent of the country owns 50 percent of the total wealth of America's stocks. The richest 10 percent own 92 percent of the total wealth of America's stock holding. Ninety percent of our population owns only 8 percent of the wealth — represented by ownership of the industries, the manufacturing and the service sector including health and welfare and the technically innovative companies underpinning our country.

In the meantime, the numbers of Americans out of work, lined up in food lines, facing foreclosure and unable to meet their minimum bills now equals the numbers of the Great Depression in the 1930s. The saddest picture of all is more than 70 million Americans hoodwinked into believing Trump has done anything to help them. We are sliding downward at an accelerated rate on his slippery slope of lies and Republican intransigence in the Senate will almost certainly grease the slope to help.

Robert Steadman

Traverse City

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