We have an artificially-propped-up "recovery" that is just a pig with lipstick on. Job creation is worse than stagnant because the jobs that are being created are low-paying service jobs, and not full-time, for the most part. Housing starts are anemic, and the rise in home prices is only because of constricted supply of existing houses. Stock prices have been propped up by quantitative easing and are starting to dither. Military boondoggles, student debt nightmares, and exorbitant health care costs are sucking what is left out of the economy. This is not the end of the Great Recession; it is the beginning of something bigger.
Maybe gains are starting to show up in the figures, but if you check with the lower- and middle-class, they don't seem to be benefiting from any alleged improvement.
Wednesday, August 21, 2013
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