I couldn't agree more. The health of the largest economy in history can't be based on someone signing a few new lawn accounts. We have had meager GDP growth, unemployment is at 7.5 and only because we don't count people who stopped looking, home ownership is at a 65 year low, and labor participation rates are near all time lows. I also agree the economy is artificially inflated because the low interest rates you mentioned as well as the 80 billion per month the fed is printing and pumping into the economy. The stock market is up because interests rate are so low no one can make anything on a savings account or bonds so they have no other options. This is a sugar high in my opinion and isn't heading towards a bright future. My personal economy is fine as well BUT the economy as a whole is in deep doo doo, wait for obamacare train wreck to come crashing down on us.
Originally Posted by Ric
A friends son just moved to Florida from Mass. He is collecting $ 600 a week in unemployment. In talking to him there is No Way he is taking any Job as long as he is collecting more than he can make working.
With 30 year fixed mortgage rates at a all time low, you can't tell me we aren't in a False Economy that is being pumped. I hate to say it but I believe this is only the calm before the big storm of National bankruptcy. Hopefully I am wrong.