In spite of what you hear from the cheerleaders on the Obama News Networks, and the Federal Reserve Chairwoman, the following chart from the Federal Reserve’s own data pretty much sums up America.
Economically, America peaked about a decade ago.
The rate of home ownership and the labor participation rate peaked about 10 years ago, during the Bush administration, and it’s been downhill since. Yes the stock market is up, but could that be a function of all the funny money pumped into the system since 2009? Pumping money into the system was in response to the “peaking” of America, the money (inflation) had to go somewhere, we see the “somewhere” currently as the equity markets.
In my opinion, the housing market which was used as an ATM machine by so many going into 2007 had to give way and has only tread water back to earlier levels. Interest rates have been zeroed out which has allowed stagnant and even lower incomes to carry more debt.