Disposable income (after taxes) of all US households is 3% higher now than it was a year ago. Consumption spending is only 0.5% higher, the savings rate increased by the balance.
Anybody hear anything remotely like that from the financial press?
Isn't everyone supposed to be out of work and aren't those that are working supposed to be so in debt to unnamed magical beings in the sky they can't afford anything and aren't they all supposed to be borrowing, net, not saving?
Oh, and US income from abroad continues to be above US payments to foreigners for their investments here. Narrowly, but positive.
US *asset values* have fallen, as *discounting rates* have swung. But US *incomes* have not. At all. Not a smidgen.
--or how about the fact that since this 'recession' began, our gdp has expanded by $100 bil. --a half trillion in current dollars. It goes on and on; unemployment is lower now than it was when Clinton was bragging about his jobs economy. Zero, zip, nada in the press.