I kid. I’m a kidder.
Lots of DC – and a lot of the rest of us – continue to pretend that Wall Street is the only U.S. economic indicator that matters.
Except since (at least) the 1970s, Wall Street has made most of its money not in conjunction with Main Street – but at the expense of Main Street. Wall Street success and Main Street success – have been inversely proportional. And Main Street always seems to be on the losing end.
To wit: Company X closes its U.S. plants – and sends all the work to southeast Asia. 52,000 Americans lose their gigs – which eviscerates Main Street. But Company X’s Wall Street stock price skyrockets.
Well, Wall Street is now hitting record highs….
Wall Street Pushes to More Records as Profits Keep Piling Up for US Companies
Wall Street is currently inflated almost entirely by the insane, incomprehensible now-trillions of dollars being invested in everything Artificial Intelligence (AI).
Well, that kind of investment can only get a positive return – if the most dire of AI jobs-murdering projections come to fruition.
Because employees cost companies a LOT of money. And despite the profits piling up, too much is never enough – no matter how many billions of the hoi polloi have to suffer for you to keep it going.
The Jobs Apocalypse: A (Very) Short History:
“Mass unemployment induced by AI would be unprecedented.”
The AI Bubble: The Elites Can’t Wait to Get Rid of the Rest of Us
Amazon in 2025 spent almost $637 billion on its employees. Alphabet (Google) almost $274 billion. Meta (Facebook) almost $118 billion.
Having AI slaughter the nation’s workforces is great for Wall Street. Horrible for Main Street.
Main Street certainly seems to get this.
Consumer Sentiment Hit an All-Time Low in May
Americans know their employers have an AI bullseye painted on each and every one of them.
And Americans can’t afford to pretend Wall Street is the only U.S. economic indicator that matters. (When nearly half of them don’t own a single share of stock.)
There are literally dozens of actual economic indicators that tell us things are not going so well. And the “not so well” – is accelerating. Rapidly.
Jobs? Not so much….
Tech Layoffs Reach 142,000 in 2026: Profitable Companies Cut Jobs to Fund $700B AI Infrastructure
Q1 2026 Layoff Report:
“Q1 2026 saw 91 companies announce layoffs cutting 280,981 jobs….”
Layoffs Are Piling Up, Raising Worker Anxiety
The Job Market Was Already ‘Slim Pickings.’ New Data Shows It Just Got Worse
‘No Hire’ Job Market Leaves Unemployed in Limbo as Threats to Economy Multiply
“Threats to economy?” Like, say, flatlining salaries and wages for those lucky enough to (still, for now) have a job…
Why Salaries and Wages Are Stagnating in 2025–2026
The 2026 Salary Paradox: Why ‘Full-Time’ is Underpaid
Wage Growth Flat for 2026 Amid Economic Jitters
2026 Wage Forecast: No Pay Boost Despite Inflation
Inflation, you say…?
US inflation Rose to 3.8% in April, Eroding Americans’ Paychecks
Global Forecasting Group Sees U.S. Inflation at 4.2% This Year, Much Higher than Fed Estimate
And what does inflation do…?
Grocery Prices Are Rising Again in 2026. It’s Just the Start
Highest U.S. Gas Prices in Years Expected to Continue Rising This Summer
Americans Are Paying Hundreds More in Rent
Five Big Reasons Why Electricity Bills Are So High Right Now
Water Costs Are Rising Faster Than Inflation – And Sending Bills Soaring
When everything keeps getting more and more expensive. And your income has flatlined. Or gone away altogether. Guess what happens…?
Half of America Is Using Buy Now, Pay Later – Economists Warn a Debt Shock Could Be Next
Mortgage Debt Rising in 2026:
“At the end of March 2026, mortgage balances totaled $13.19 trillion….”
US Credit Card Debt Hits Record $1.33 Trillion
America’s Car Debt Just Hit $1.68 Trillion
And then the “debt shock” starts happening – all over….
Delinquent Buy Now, Pay Later Loans in 2026:
“41% of U.S. BNPL users reported missing at least one payment on a BNPL loan in the past year, up from 34% in 2024….”
US Home Foreclosures Rise 26% Year-Over-Year in Q1 2026
The Broad, Continuing Rise in Delinquent U.S. Credit Card Debt
2026 Auto Loan Delinquencies and Defaults Surge
It’s Big Tech-Big Biz-Wall Street – versus We the Little Guys on Main Street.
It’s a tale of two countries.
It is the best of times – it is the worst of times.
Which it is for you? Depends upon which arm of the K-Shaped Economy you find yourself.
Seton Motley is the president of Less Government, a DC-based non-profit organization dedicated to reducing the power of government and protecting the First Amendment from governmental assault.
