While the "central banks .. may (or may not have) reached the point where they’re essentially powerless to do anything more, or else," the federal government has the means to fix this problem; but the federal government has no will to fix this problem.
Remove taxes and regulations on businesses and the people; and watch the economy take off. Taxes and regulations are killing us. The government is out of control and is suffocating us.
Or, the people can just do as Jeb Bush said, "It means that people need to work longer hours and, through their productivity, gain more income for their families."
Hmmph, I feel Boxer in Animal Farm.
Remove taxes and regulations and the nature of immigration changes a bit, big industry immigrates from all over the world. Remove government welfare of all sorts and the third world stops swamping us and the tide reverses while the incoming mix trends back to productive people.Remove the government from education altogether and most of the brains of the world will eventually reside here. Remove the government from medicine and insurance and American medicine will become cheap and quality of care and medicines will head out on a long curve upward.
What in the hell is “debt deleveraging”?
Jeb is an idiot. For the last few decades people have worked longer and harder to gain more income... only to see government salivate as the people go into higher tax brackets and lose their income as taxation. All the while, government increases fees and taxes. Yup, people need to run faster on that hamster wheel, that's the ticket. (Or, we could lower taxes and regulations.)