#KAG

How the Bottom 50% in the USA have fared over the last 30 years

fredgraph (3)

Thanks to the SOTU, this chart from the St Louis Fed (FRED) gives us a great read across on how the Bottom 50%’s fortunes have fared over time.

Since the series began, FRED shows their aggregate wealth peaked in 2Q 1991 at $4.3 trillion. In Q1 2009, that net wealth plummetted 61% to $1.7 trillion. It sunk to a rock bottom of $300 billion in 2Q 2011, 93% down.

Under Obama, net worth for the Bottom 50% declined from $1.7 trillion in 1Q 2009 to $1.1 trillion, down 35% over his two terms. This might do some explaining as to why the “forgotten” wanted large scale change.

Under Trump, the latest net worth is back to $1.6 trillion. Still well off the highs of 3-decades ago, but one imagines if things keep improving out to November, then these people won’t want to risk their fortunes reversing again.

Of course, many will ponder the unfair wealth gap of the Top 1% at $34.5 trillion in the latest figures.

Democrats should be outraged that the ultra-wealthy have done much better under Obama with a 100% gain in net worth under his term vs the paltry 15.3% so far under Trump. Is this the real reason why Nancy Pelosi is so upset?

If you want to see how much members of Congress are worth please check out Roll Call. While some politicians come from inherited wealth, many on the public purse have managed to do pretty well on a paltry government salary.

Trump trounces the party of raw onion, lemon and chilli mouthwash in SOTU

Trump smashed the State Of The Union speech. Utterly exposed the Trump Derangement Syndrome within the Democrat’s ranks.

Trump has a glass jaw. This is well known. He made his feelings well known to Speaker Nancy Pelosi in his 2020 SOTU address. He snubbed her handshake and set the tone. It was juvenile and unpresidential to refuse Pelosi’s gesture but Trump wanted the optics. She was shocked. Then again their mutual hate is no surprise to anyone, especially given the impeachment farce.

Before he spoke, Trump was greeted by chants of “4 more years!

The sound of Pelosi’s applause was quieter than a one-handed clap.

Pelosi or the Democrats couldn’t raise one round of applause for record unemployment for blacks, Hispanics, veterans or disabled people. So much for identity politics, they bleat incessantly about.

Trump awarded stage 4 lung cancer sufferer Rush Limbaugh with the Presidential Medal of Freedom. Not even Pelosi could extend any warmth for his achievements, let alone his ailment.

You have to hand it to Trump for rallying American greatness. As a media man, he knew exactly how to win the crowd with his special guests.

He spoke of an 8th grader who wants to join the newly created Space Force. His great-grandfather is the 100yo Tuskegee Airman, Brigadier General Charles McGee. Americans love their war heroes. It was a powerful moment.

Even awarding a child of a single mother of colour, Stephanie and Janiyah Davis, with an education freedom scholarship couldn’t bring Democrats to applaud them.

He also spoke of his repudiation of illegal aliens and sanctuary cities. He spoke of Rocky Jones who was shot 8 times and killed at a gas station. He was murdered by an illegal immigrant who was released by a sanctuary city. Trump said he wants to pass legislation to allow victims to sue sanctuary cities for suffering such losses. He also stamped his disgust of giving free healthcare to illegal aliens.

He spoke of drug price transparency and introducing record numbers of generic drugs to lower the cost of medicines. Healthcare is far from perfect but steps are being made.

One of the most powerful moments was the surprise visit of Sgt Williams who was reunited with his family after a long deployment. Chants of “USA” as they embraced was one to pull at the heartstrings of a nation that is proud of its military. Probably the most exceptional moment of the SOTU speech.

Whatever bluster or fact-checking that will inevitably surface in the hateful mainstream media, much of his achievements will ultimately be weighed by the electorate come November.

During all of this, the fact was most Democrats swished a mix of raw onion, lemon and chilli mouthwash. Too bitter to accept the realities of a president that has kept a lot of promises. Staring down at their smartphones as he rattled off KPIs on the economy and the number of companies who are setting up in America. The mainstream media will talk of the handshake snub but the SOTU will be what is remembered by Americans for making them feel proud again.

On the back of the Iowa Caucus farce and his inevitable acquittal from impeachment this week, his coronation looks ever more certain after tonight.

Nancy Pelosi couldn’t wait for it to be over. She ripped his speech up in front of the audience, a terrible look especially given her bitterness. It is hilarious to think on so many issues the Democrats couldn’t celebrate successes of their own citizens.

Trump 1 Democrats 0.

NB – he didn’t mention Iowa or impeachment once.

63m gun repossessions?

Kamala Harris’ brilliance knows no bounds. She intends to repossess guns from “racists”. If we use the strict definition from the Democrats, all 63mn Trump voters will lose their guns.