Our economy is holding up very well actually in spite of Biden/Kommiela. Best indicator of economy is how stocks are doing. As of this morning, stocks are very close to all time high. I can guarantee if economic prospects are dismal, stocks would not be near all time high. I can say that after 57 years of trading stocks.
S&P 500
3,937.23
+24.13(+0.62%)
Dow 30
32,700.47
+72.50(+0.22%)
Nasdaq
13,359.01
+143.77(+1.09%
The government has made sure no money can be made from interest rates, so everyone plows money into stocks, instead.
Couple that with QE 1-4 and many trillions of government fiat monies from thin air in the past two years, and you have a recipe for a massively overvalued stock market—one that traders say is ripe for at least a 20% drop as the interest rates edge up.
How much of that is the ridiculous interest rates and the 6 trillion, dumped into the economy. My notion is when the play money runs out the markets will correct hard!