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Devastating report on Trump’s economy shows the rich are hoarding cash instead of creating jobs

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President Donald Trump is counting on a strong economy to carry him across the finish line in his 2020 reelection bid.

However, as Axios reports, American companies are still either hoarding cash they’re making or spending it on stock buybacks instead of plowing it back into their businesses and creating jobs.

Neil Shearing, chief economist at Capital Economics, tells Axios that companies are also reluctant to give their workers raises because it would hurt their share values, as Wall Street investors would be less willing to pay top price for shares where there is little expectation of cashing in on dividends or buybacks.

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In addition to this, wealthy individuals are sitting on more wealth than they’ve ever had, even as wage growth continues to show sluggish growth.

“The top one percent of U.S. households are holding a record $303.9 billion of cash, a quantum leap from the under $15 billion they held just before the financial crisis,” Axios writes.

All of this is particularly glaring at a time when American infrastructure has continued to crumble — and it’s making it hard to find money to pay for Trump’s proposed $2 trillion infrastructure package.

“The end result is money that would previously have been split between businesses, workers and the government for projects like schools, health care and infrastructure is instead sitting in corporate accounts earning little to no return,” the report concludes.

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Read the whole report here.


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‘Morrison in the USA sucking up to Trump’: Aussies furious to see prime minister campaigning for Trump

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President Donald Trump and Australian Prime Minister Scott Morrison appeared at a rally in Ohio Sunday, prompting Aussies to complain that it's unacceptable for their leader to be campaigning for Trump.

Trump invited himself to a Houston, Texas rally with Indian Prime Minister Narendra Modi, where he tried to campaign for the U.S. president with Indian-American voters. Sadly, however, nearly 80 percent of Indian-American voters cast their ballots for Hillary Clinton in 2016.

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Republicans love the Constitution — until it applies to them: Conservative columnist

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Conservative Washington Post columnist Max Boot unleashed on President Donald Trump's latest scandal he's calling Ukraine-gate. But when it comes to Republicans, he called them outright complicit.

In his Sunday column, Boot noted that a mob boss doesn't have to overtly say “pay up, or we will destroy your store” to be guilty of extortion. In Trump's case, he tends to say things in a way that it is understood what he wants people to do, according to former "fixer" Michael Cohen.

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Hate for Trump sets new record of Americans who can’t stand a president

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A new poll shows a record number of Americans can't stand the president of the United States.

According to the most recent NBC News/Wall Street Journal public opinion poll, an astounding 69 percent of Americans don't like Trump personally.

During the early 2000s, President George W. Bush enjoyed the benefit of Americans finding him likable and wanting to "have a beer" with the sober leader. That measure of "likability" has been a kind of inspiration for political leaders searching for voters based not on issues but on personality.

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