You have seen the rate of those unemployed for 3 months is at historic lows. The unemployment for 6 months is twice the 3 months’ rate and the 12-month rate is double digits.
The stock market is at historical highs and climbing. Most stock market money is held in retirement accounts and is not liquid assets to spend tomorrow regardless of how rich you feel.
Summer to fall, the Fed printed $300 billion and continues to print more as part of quantitative stimulus. Interest rates are at historic lows. Printing money and low interest rates are factors used by the Fed to salvage an economy and become less effective over time when the real collapse happens.
Over the next several months, 6 trillion in bonds mature and China and other countries are not enthused buyers anymore. The annual deficit is a record $1 trillion and projected to continue for years. The national debt is at an all-time high – $22 trillion and climbing.
Many politicians believe that the national debt doesn’t matter. Remember we bankrupted the USSR in the Cold War. Have the politicians in control set us up for an economic train wreck?
Roger Dusil, Preston