Under Trump, the Poor get richer while the Rich get poorer, while the USA is winning the Trade War!

The truth is out: The unemployment rate in the USA is the lowest in 30 years, and the Black, Hispanic and Female unemployment are the lowest in recorded history. Added to that real wage growth is underway for the first time in 30 years. So: the Poor are getting richer.

Now the big end of town, those earning US$1 Million or more per year are not doing so great. Under Trump’s Trade war “The collective wealth of high net worth individuals — those valued at more than $1 million excluding their primary residence — has declined for the first time since 2011, decreasing in 2018 by 3% globally, according to a report by consultancy Capgemini.

The ongoing US-China trade war wrought much of that damage, according to Capgemini analysis, as global stock markets tumbled and geopolitical unrest reared its head. Nowhere were those losses more pronounced than in Asia, where an astounding $1 trillion of wealth was lost last year. China alone was responsible for half of that, with China’s elite losing $500 billion.

So: The Rich are getting poorer!

Given that it is due to the Trade War, it’s perhaps no surprise that China’s super wealthy lost $500 billion, equivalent to the whole of Europe’s collective losses. North and South America meanwhile only experienced relatively small declines in comparison — due perhaps to the US’ upper hand in trade negotiations. That is proof that the USA is winning the Trade War, and winning it Bigly!

So the Rich are getting poorer, by two Trillion dollars last year, with 25% of the losses in China. Now why are the Democrats so quiet about these statistics? They still whine that Trump is making the Rich richer and the Poor poorer, when the numbers say the exact opposite!

Could it be (Gasp!) that they are lying to the American people? Again?

I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.

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