The real story is that "help is on the way" for America's struggling middle class, the unemployed and the under-employed. The much maligned TARP stimulus and "extraordinary measures" of the Federal Reserve have finally and in fact -- worked!
Using inflation-adjusted numbers, we indexed each component of GDP to 4Q07 levels, beginning with a value of 100 for each. We graphically display the results below, followed by some commentary.
There is another world crisis brewing -- and one for which President Obama cannot be blamed. The Europeans have made a mess of things, and now the wolves are at the door. The first snarling wolf is deflation.
No one should be surprised that the American people are economically insecure and anxious. Seven in 10 voters said the nation's economy is in bad shape. Voters who said the economy was important to them voted 2 to 1 for Republicans.
I've argued for some time that the process of deleveraging has yet to run its course. The aggregate level of debt in our economy currently stands at a record high, even though many pundits continue to say that debt levels are much more manageable now as compared to the pre-crisis days.
We can now say we have the goldilocks economy that prevailed through the 1990's -- not too hot or too cold -- that should boost economic growth for years to come, if Congress can be ignored.
The drop in oil (and corresponding drop in energy stocks) is causing much consternation throughout the investment world because it is inconsistent with the narrative articulated by most economists.
By calculating the production numbers on a well-by-well basis for shale gas and tight oil fields throughout the U.S., Post Carbon concludes that the future of fracking is not nearly as bright as industry cheerleaders suggest.
Design changes in Ebola management protocols make it highly probable that the Ebola hazard in America will be successfully contained. In contrast, the hazard of wealth-concentration policies implemented by central banks is not under containment. This problem threatens the very fabric of democratic enterprise.
A recent study by the U.S. Government Accountability Office indicated that "some 155,000 older Americans are now seeing deductions from their Social Security checks to pay off their federal student loans - up from 31,000 a decade ago."
The wealthy continue to see significant income and wealth gains while the majority of people are experiencing stagnant living standards. Income inequality is one of the most significant financial stories right now, and there's no end in sight.
The growth of the American and global economies are the underlying drivers for most all equity investments. A clear discipline, dogged research, and dispassionate assessment are an investor's best friends.
That so many of our friends and neighbors face such profound financial insecurity after five years of supposed economic recovery tells me we have a lot of work to do if we're serious about America being the "land of opportunity."
This is not to argue against minimum wage increases as much as to argue that this remedy must not be substituted for reforms at deeper levels.
The value of a country's currency is basically dependent upon the country's integrity and having the assets necessary to pay its debt and back up its currency. This was a real problem for early Americans prior to, and for several years following, the Revolutionary War.
Any TV news organization would rather cover a train wreck than an on-time arrival at the station. But CNBC's constant denigration of the equity market begs a question: why on earth would the cable network do their level best day in and day out to scare viewers out of the markets that they covers?