Comment Re:If you're American (Score 1) 210
Actually I'd disagree with you in one sense - the US economy seems a lot better than it really is. Yes, the economy crashed in 2008 but the recovery you mention is a mirage, built on more debt, the exact same problem that caused the 2008 crash in the first place. Indeed thanks to QE we now are massively overcommitted and rely on near 0% rates to afford to service the debt. We're obviously not growing out of it despite how hard central banks try to inflate the debt away - in fact it's having the exact opposite effect from that predicted by standard models.
Indeed, the investor class have successfully redirected a portion of the unprecedented expansion in base money into their own accounts, but the majority of citizens have made little to no improvement in their lives over the past seven years. Indeed many have gone backwards. Headline economic statistics like the unemployment rate look good on the surface, but dig deeper and you see a participation rate at 40+ year lows, strong growth in over 55s minimum wage jobs (probably to fund their retirements as the return on 'safe' fixed investments in now nothing), yet no growth and outright contraction in employment for the most important demographics such as 25-54.
Indeed, the investor class have successfully redirected a portion of the unprecedented expansion in base money into their own accounts, but the majority of citizens have made little to no improvement in their lives over the past seven years. Indeed many have gone backwards. Headline economic statistics like the unemployment rate look good on the surface, but dig deeper and you see a participation rate at 40+ year lows, strong growth in over 55s minimum wage jobs (probably to fund their retirements as the return on 'safe' fixed investments in now nothing), yet no growth and outright contraction in employment for the most important demographics such as 25-54.