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1/8
This week we saw new records set on major stock markets. Mike Pence tweeted: "S&P 500 closed at a RECORD high today, fully wiping out its losses from the Coronavirus! This is the great American comeback!" But, For Fact’s Sake, he's wrong. #forfactssake @SRuhle
This week we saw new records set on major stock markets. Mike Pence tweeted: "S&P 500 closed at a RECORD high today, fully wiping out its losses from the Coronavirus! This is the great American comeback!" But, For Fact’s Sake, he's wrong. #forfactssake @SRuhle
2/8
This is not the "Great American Comeback." When the stock market hits record highs in the midst of a recession, it's actually the "Great American Imbalance. " Repeat after me: The stock market is *NOT* the economy. #forfactssake @SRuhle
This is not the "Great American Comeback." When the stock market hits record highs in the midst of a recession, it's actually the "Great American Imbalance. " Repeat after me: The stock market is *NOT* the economy. #forfactssake @SRuhle
3/8
While the stock market set records, 28 million Americans remain unemployed, including those who have stopped looking for work altogether. A relief bill for these struggling households is stalled in the Senate. #forfactssake @SRuhle
While the stock market set records, 28 million Americans remain unemployed, including those who have stopped looking for work altogether. A relief bill for these struggling households is stalled in the Senate. #forfactssake @SRuhle
4/8
While the stock market set records, 29 million Americans continue to live daily with the fear that they stand to be evicted from their homes by the end of the year. 30 million are food insecure, unsure of how they’ll afford their next meal. #forfactssake @SRuhle
While the stock market set records, 29 million Americans continue to live daily with the fear that they stand to be evicted from their homes by the end of the year. 30 million are food insecure, unsure of how they’ll afford their next meal. #forfactssake @SRuhle
5/8
While the stock market set records, more than 90 thousand small businesses have already shut their doors, for good. The markets are in great shape. The economy isn't. Again, the markets are *NOT* the economy. #forfactssake @SRuhle
While the stock market set records, more than 90 thousand small businesses have already shut their doors, for good. The markets are in great shape. The economy isn't. Again, the markets are *NOT* the economy. #forfactssake @SRuhle
6/8
Markets are up because the Fed was there to save them, lowering interest rates to make it attractive to those with credit & guaranteeing banks a literally unlimited supply of money to keep loaning out to companies. #forfactssake @SRuhle
Markets are up because the Fed was there to save them, lowering interest rates to make it attractive to those with credit & guaranteeing banks a literally unlimited supply of money to keep loaning out to companies. #forfactssake @SRuhle
7/8
We have a really good system, not bogged down by politics, to help companies & by extension, their investors. But 87% of ALL stocks are owned by the wealthiest 10% of Americans. That's a *bit* of an imbalance. #forfactssake @SRuhle
We have a really good system, not bogged down by politics, to help companies & by extension, their investors. But 87% of ALL stocks are owned by the wealthiest 10% of Americans. That's a *bit* of an imbalance. #forfactssake @SRuhle
8/8
The political system that helps ordinary Americans is stuck in the Senate, where some Republicans say more relief will make the debt too big. But they claimed the Trump tax cut—free money no one needed—was somehow going to SHRINK the debt. It didn't. #forfactssake @SRuhle
The political system that helps ordinary Americans is stuck in the Senate, where some Republicans say more relief will make the debt too big. But they claimed the Trump tax cut—free money no one needed—was somehow going to SHRINK the debt. It didn't. #forfactssake @SRuhle
