Yes. Equity markets at record highs. Mortgage rates falling. Unemployment under 4%. Wage growth strong, particularly for lower income workers.
Yet the real economy sucks. Houses are on the market for months here in one of the fastest growing areas in the country. An unprecedented number of youts have to move back in with parents-—you should hear my 35 year old son talk about this. Interest and inflation are killing lending.
Depending on who you read-—and I’ve seen contradictory claims-—credit card defaults are reaching an all time high. No, the economy is not good for anyone but the top 3%.