If you didn’t have to cash your 401k to survive, you should be happy campers.
Corporations are not getting strong “organic” profits. Profits are mostly “acquisitive,” based on buying other businesses rather than revenue growth of their own. The market is up because the Fed has pumped so much cash into the system Wall St is profiting nicely from the cheap interest rates.
Until the economy really starts firing up again wages are going to be static. Too many still unemployed for wage growth…
“Obama is just carrying on only he is shrinking our debt every year billions are saved. Do you give him credit?”
Are you insane? Obama personally has added $5 Trillion to our debt in 4 years and it increases at about $1Trillion a year. Suggest you take Econ 101.
It doesn’t matter which administration is at the helm. The rich get richer. The system is gamed to their advantage whether they are benevolent job creators or not. I’ve been around most of these guys. They are not the “smart ones” who founded these companies. I’m talking the HUGE companies. They were more of the born-at-the-right-time and raised in-the-right-family guys. Doing just enough until golden parachute time. Sick as it is I long for more real entrepreneurs.
No, Bernanke is shoveling $88B a month of fake money into the system to make it look like things are good. Where else can you get paper returns like that, but wait until the FED is ready to sell, have one foot out the door.
Pretty much PresBo’s plan. 4 more years of fakery, when the FED stops the money train, hang on to your hat.
Jan ’09 we owed $10.626T in Sept ’12 it broke $16T, today $16.5+, who spent the most? W ran two wars and never hit a $T shortfall.
Stuart Carlson and Jerry Resler