The ugly truth, however, is that unless you’re part of the wealthy elite who benefits from the success of the markets, this rally will have little to no bearing on the day-to-day economic reality for you – and the media would do well to remember that.
Viewing the market as a way to check the pulse of the American economy is inherently flawed because it only represents a small number of wealthy people.
The stock market is useful for telling you how speculators and corporations are feeling about the future of the economy, but it says nothing about how average Americans are actually doing day-to-day.
Those “bull market” statistics were not representative of an economy that was experiencing widespread prosperity, but instead displayed how the vast amount of income inequality has rapidly created two different worlds for Americans.
The GOP loves to spread the myth that the stock market is directly tied to the well-being of working Americans because it allows them to dump massive amounts of money into the pockets of wealthy corporations and businesses and claim a victory for saving the economy.
