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Senior Contributor

US 2 track economy

Interesting article about the US economy.


Which of these two scenarios describes the US economy?

1, The economy is better than ever: The stock market is near a record high, wages are rising, there are more job openings than applicants, household wealth has hit a record, gross domestic product is growing briskly, house values have recovered from the bust and consumer confidence is back, and so is America!

2, Real Americans are suffering: inflation-adjusted wages are stagnant or even declining, economic mobility is nonexistent, gasoline is getting expensive as oil prices rise, labour force participation rates are stuck at levels not seen since the late 1970s, healthcare is brutally expensive and getting more so, and rents have been rising. There is a looming retirement crisis coming, as households have too little savings, and pensions are underfunded, the average American is getting crushed!