Why CNN’s Claim About Americans Being ‘Wealthier’ Than Ever Is Crapola of the First Magnitude

NewsBusters ^ | 9/12/2023 | Joseph Vazquez

[JV3MRC]

Stop complaining about President Joe Biden’s economy, Americans! You’re wealthier than ever! Yes, CNN reached new heights of gaslighting when it tried to sell that line with a straight face to readers.

CNN Reporter and in-house Bidenomics shill Matt Egan ran a false story riddled with utter nonsense. “Americans have never been wealthier,” read Egan’s headline. “Fueled by a resurgent stock market and rising home values, US household wealth hit a record $154.3 trillion during the second quarter of this year, according to federal data.” But as Heritage Foundation economist EJ Antoni bluntly put it, CNN’s framing was flat-out “wrong.”

The report CNN referenced — Antoni told MRC Business — “is measured in current dollars, meaning it’s not adjusted for inflation.” The reality is that “[t]he spending, borrowing, and creating of money by the government the last three years has caused prices to rise and created asset bubbles, like in stocks and real estate. That increases nominal wealth, but not real wealth.” [Emphasis added.]

In fact, Antoni explained, “[a]djusted for inflation, household net wealth is not at a record high today,” Antoni said. Household net wealth is actually down five percent “from the end of 2021. It is also nearly unchanged since the end of 2020, despite tens of millions more people working today.”

[If You Want It Fixed - Fix It]

Avg 10k visa debt makes us look like pimps.

[cpdiii]

My expenses haven risen about 8000 dollars per year under Biden. Our income as a retired couple has risen about 2500 and thus Biden’s economic boom cost me about 5500 dollars a year.

I am fortunate as to have well planned for my retirement. Many of my age have been economically hurt very very badly by Biden’s supposed economic boom.

They lie!

[equaviator]

“sterilizing agents in vaccines were exposed as being used in the Philippines”

I wouldn’t be shocked to learn that Clinton had already used that method by then.

[denydenydeny]

Gaslighting