I believe you are correct that the current recovery is based on fiscal and monetary stimulus which both contain within them the seeds of the next downturn, but I believe the people who understand that number in the dozens, not the millions.
Meanwhile, the stock market is up, the cash registers are ringing, car sales are rebounding, even some types of real estate are rallying. To the average Joe, this feels like a recovery, and to be fair, it’s not that different from the last recovery under Bush, also almost entirely a fiscal and monetary joke.
The average Joe also knows gas is over $3/gal and rising and that food seems to be more expensive every week.
We are in the Great Depression 2.0. The big difference is that we have not destroyed the industrial base of most other industrialized countries this time.
It is not going to get better any time soon.
Until the banks and financial institutions return to ‘mark to market’accounting basis all market asset valuations are based on a fraud. Market rallies, real estate rallies, all of it based on ‘mark to fantasy’—unicorn crap skittles—fraud.