A Tale of Two Cities: Stock Market Surges for Super Rich, While Working Americans and Small Businesses Struggle

Peter Mathews on KTLK AM 1150, the David Cruz Show: Stock Market surges on “strong” jobs report, despite underemployment, hidden unemployment, and stagnating wages for most Americans. Mathews analyzed the May 3 jobs report and the record high Stock Market surge (over 15,000 points). Mathews said that although 165,000 jobs were created in April, we really need 300,000 jobs to keep up with the demand from millions of unemployed, underemployed, and dejected Americans who have given up looking for work. When you include them, the alternative unemployment rate is 15%, not the official 7.5%. Mathews suggested it’s the “Tale of Two Cities”: the super rich stock market beneficiaries and the rest of America, who own little or no stock, and face stagnating wages and lay offs. “It’s Wall Street that gets the Gold Mine while Main Street and Small Business get the Shaft”. Mathews said this has to change. “We must reclaim the American Dream for all !”  [15.min]      |_listen_|