Courtesy of Pam Martens.
By Pam Martens and Russ Martens: August 25, 2016
On July 25, during the opening night of the Democratic National Convention, Senator Elizabeth Warren made the following comments during her speech:
“Here’s the thing: America isn’t going broke. The stock market is breaking records. Corporate profits are at all-time highs.”
We noted at the time that Senator Warren is one of the smartest members of Congress; a former Harvard law professor who taught commercial contracts and bankruptcy law; a member of the Senate Banking Committee and its Economic Policy Subcommittee.
If Senator Warren was not aware that quarterly earnings on a year-over-year basis as measured by the largest companies in America – the Standard and Poor’s 500 – were on track to log in their fifth consecutive quarterly decline in earnings, how could the average American possibly know this?
…
