The Dissolution of the West
Along these lines, Robert Reich addresses the current rah! rah! media reporting on economics. As if everything is great now, for everyone. Please. Since when does the stock market reflect the daily reality for most Americans? That's right, pretty much never. The stock market is roaring currently, because things are great for corporate profits, and therefore the investor class. But that's not most of us! The reasons profits are great for many large corporations is because of their cost-cutting measures (lay-offs) and continued exporting of jobs to the third world. They can do this unimpeded, because not only does Congress not stop them from doing so, they are handsomely rewarded for doing so, with tax breaks, rebates, etc.
This does not translate into boom times for the rest of us (sorry, trickle-down is a gigantic lie). We now have a massive group of long-term unemployed citizens who can't find work, or who can't find a job that pays anything. And contrary to repug delusions, fast-food restaurants don't hire multi-degreed fifty-somethings. I keep reading that the housing market is humming along again and I think, who the hell is buying these places? In my rural area, and in the nearby small communities, I see a different small/family business close every other week, including family dental practices. (Who can afford professional dental maintenance except for retirees and the professionally employed who still have income and health coverage!)
Reich is basically saying hey, not so fast. And I'm saying that the same folks trumpeting recovery now are essentially the same folks who got everything so very wrong leading up to the 2008 worldwide crash. Which, I might add, many of us haven't recovered from. You may consider me to be a doomsayer, and that's your choice, but I'd rather plan for bad times and be pleasantly surprised if they don't come to pass, than live in a delusional corporate media bubble that pops with a deafening roar, leaving in its wake a shell-shocked populace unprepared for a harsh new reality.
Postscript: See also "The Truman Show Economy".