Measuring The Success of The Economy

It seems to me that the way we measure the success of our economy is out of balance with reality. If you listen to any recent stories or reports, it's pretty much always the same and has been for years. The economy is booming or failing based on the stock market, various indexes, the profits or losses being generated by businesses and banks and so on. In effect, we measure the economy based on how well the rich or the wealthy are doing. As I say its been that way for years. There's no other way to say it, the measure is based on the success of the wealthy.

But this may be why so many people scratch their heads and say "wait a minute, I'm not feeling it. The economy isn't working for me." This is why I'm wondering if we really need a different measure. Something the talking heads and pundits could spend more time talking about when they tell us all that the economy is doing well or not.

So lets start measuring some really worthwhile things. Things like how is the middle class really doing? Or how about college students and debt? How are they doing with that and how are they feeling about the interest rates they're paying? If the economy is good (according to traditional measures), why aren't these rates and costs changing? But here's the most important measure of a good or strong economy. How are the poor and the homeless doing? Are they less poor, less homeless? Are the poor and perhaps the underemployed doing better in terms of their wages?  Wages are currently measured but they don't seem to be weighted in a similar way as the wealth being created by the stock market or other investments. Let's measure the minimum wage and entry level wages as a measure of a good and strong economy.

All of this would be a start in changing how we all view the economy and perhaps it would help business leaders and politicians realize that they had to do more to tout a successful economy.

Governing By Fear and Through Twitter

They're coming, they're coming! This is Trump's cry to build fear in not just his base but to anyone who will listen. They are - People of color, Muslims, Mexicans, MS-13, Antifa, strong women, young people, progressives, China, Africa. Yes, according to Donald Trump your property, your life and your family are threatened by all of the above. He would have you think that your world will be turned upside down by all of these terrible people. He is saying that violence will occur if his opponents win the midterm elections. Really? The winners will beat up and attack the losers? It also seems he is saying that his party is the party of white people - white people who are threatened by a fear of those who are different. Most of what Donald Trump does is based on this type of hateful politics and governing by fear. He understands what he is doing and seems to enjoy promoting fears and building walls, pitting people and groups against each other. We also need to understand that there are plenty of people who will revel and celebrate in the hatred and the fear. This should be the real fear. My hope is that more and more people will begin to realize that there really are no "others". We citizens of the world are really in this together and we need to stick together against the promoters of hate and fear who exist all over the planet.

And then there is the issue of governing that we are all witnessing today. Donald Trump is very proud of his use of Twitter. He touts it as his way of being able to communicate with the American people. Think about it. This is a 71 year old man who otherwise seems to be technologically challenged. He doesn't use a computer, email or numerous other electronic communication tools. He also doesn't use traditional modes of communication such as news conferences. But, yes, he discovered Twitter at some point a few years ago and saw how effective it could be as a tool to get his ideas across untethered by questioners or facts.

Having said that, I'm amazed at the fact that government officials, party officials, security staff, family, friends, and elected officials haven't been able to educate him about the appropriate and inappropriate use of this social media platform. The fact that we have someone governing through Twitter is crazy and dangerous. People are being notified of their firing through Twitter. Foreign governments, allies and adversaries are being communicated with through Twitter. The stock market, businesses, the Fed and other economic entities are being impacted by Tweets. Other politicians, friends and foes attempt, in a silly way, to communicate with Donald Trump through Tweets. Members of the media use Tweets to report on Trump's Tweets. In the process we all lose. We all enable governing through Twitter.

I have no idea why we accept any of this. History will not look kindly on our country allowing governance in this way. Personally I feel sorry for Donald Trump. He really doesn't and I don't believe he ever did understand the reality of what it meant for him to be elected President. He never understood what it would mean to lead or govern the country.  But here we are, he is responsible for governing and leading. He should and perhaps will, be held accountable for his Tweets. I hope the rest of government realizes what a terrible method of governing we are seeing before us.