Thursday 25th of May 2017

For 90% Of Americans: There Has Been No Recovery PDF Print E-mail

Lance Roberts writes September 10, 2014 at streettalklive.com:

Every three years the Federal Reserve releases a survey of consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2013 survey confirms statements I have made previously regarding the Fed's monetary interventions leaving the majority of Americans behind:

"While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else. What monetary interventions have failed to accomplish is an increase in production to foster higher levels of economic activity.

With the average American still living well beyond their means, the reality is that economic growth will remain mired at lower levels as savings continue to be diverted from productive investment into debt service.  The issue, of course, is not just a central theme to the U.S. but to the global economy as well.  After five years of excessive monetary interventions, global debt levels have yet to be resolved."

The full report can be found at the link. I have selected a few of the more important charts for the purpose of this post.

Read more here.

 

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