Let’s see, the federal government and its central bank have never been more involved in various ways with the economy than during this still-young century, and real incomes are lower now than they were at the beginning of the century. Coincidence? From Wolf Richter at wolfstreet.com:
In turn, households get the feel-good illusion.
Despite all the frothy excitement about the stock market’s new highs, and the drooling today over the new highs reached by Housing Bubble 2, exceeding the prior crazy highs of Housing Bubble 1 even according to the Case-Shiller Index, and despite eight years of super-low interest rates, and a million other things that are hyped constantly, median household incomes, the crux of the real economy, is still a dreary affair.
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