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Friday, September 30, 2016

Hey Congress, What About The ‘Doug Jones Average?’

To report on how our economy is doing, media outlets keep a constant eye on the Dow Jones Average. But they’re like cats watching the wrong mouse hole, for the great majority of Americans have between zero and next-to-nothing in the stock market.

The economic measure that matters most to most folks is the Doug Jones Average. The Doug is concerned about such key indicators as the pump price on a gallon of regular, the subprime value of today’s seven-and-a-quarter minimum wage and the impact of global inflationary pressures on the cost of a six-pack.

So, how’re Doug and Dottie Jones doing? Not well, report the number-crunchers at the Federal Reserve. In the latest Survey of Consumer Finances, Fed economists found that from 2007 through 2010, all but the wealthiest 10 percent of American households have been downwardly mobile, with the median net worth of U.S. households tumbling by a startling 39 percent, falling to the lowest level in 20 years.

In short, Americans are not merely feeling poorer — they are. Foreclosures, lost jobs, wage declines and other reductions (combined with rising costs of everything from gasoline to child care) have become the norm, even shoving many proud middle-classers onto food stamp rolls. Yet Washington remains fixated on propping up Wall Street’s moneyed elites.

  • Maybe if we stopped electing millionaires that own stock in major corporations, it might help. Probably not, but it’s worth a try.

  • William Deutschlander

    Basicalywhen Congress, for the most part, is paid for by the top 2% of the population, the wealthiest of the wealthy, we are not going to experience anything that will be of worthy benefit to the remaining 98% of the U S population.

    What is desperately needed in the U S is a peoples revolution that will bring the government back to the cotrol of the 98%, which means that ALL lawyers will be removed from any public offices with the exception of attorneys general.

    ALL ELECTIONS shall be financed by government grants and campaining will be limited to three months, television political advertising will be banned 100%!

    Every elective office will be for one four year service term period!

    Any individual who obtains the required number of signatures on a petition will be considered a candidate for that office without any political party affiliation.

  • All you have to do is be Middle Class to know how true this article is. But then the Middle class does not own the media and the politicians they vote for, our power is in the one vote we each cast. We have to work together to make sure everyone, who can, votes; and, make sure they understand what and who they are voting for.

  • sleeprn01

    OMG, Thank you Mr. Hightower for a clear and focused article on the demise of the American middle class.

  • onedonewong

    That’s when you vote for a clueless wonder the presidency isn’t amateur hour

  • jarheadgene

    Loved the Article. Doug Jones vs Dow Jones…..Doug Jones still holds the POWER of ONE PERSON, ONE VOTE. That scares the Dow Jones watchers, so much so, they have created new “JIM CROW” laws to “fix” voting. The GOP is so concerned with proper voting taking place ….hah….where was their moral outrage when Silver Spoon BABY Bush stole his first Presidency? And where was their moral outrage when NO BID huge contracts were going to EVIL CHENEY’s companies? And where was the moral outrage when it turned out we were LIED to about WMD’s? The only HONORABLE response came from Sec. of State Powell by refusing second term w/the NIXONites. DOUG JONES still has 1 vote….vote carefully, make the GOP stand down, we know they are ALL ABOUT
    GREED. But start yelling at your Congressmen/women and Senators…..build up and support the middle class they keep the WHOLE show moving….Stop catering to the filthy rich, they only Trickle down.