Year over year February hires are down about 25%. Median income is down 5%. The average hours worked declined again in February. Record numbers on food stamps and SSID. Record low numbers of Americans working. Yes corporate profits and the markets are up but at whose expense? Americas savers. The Fed props up the market and corporate profits with near zero interest rates and screws Americas savers with their near zero interest rates. You see this all as a slow but steady rise toward prosperity. I see it as a freaking disaster happening in slow motion. How could we see it so differently?
I guess people see what they want to see...
- Number of workers is near (1-2 months away) all time highs.
- GDP is at an all time high
- household net worth is at an all time high
Could iit be better? Absolutely and I’ve said so hundreds of times in these economic threads. Are there.problems? Absolutely and you’ve outlined some of them. I used the word “sub-optimal” in another thread on Friday to describe this recovery. Probably not strong enough. But there is a recovery. That is just undeniable.