According to the mainstream media and corporate politicians the fundamental of the economy are great despite the recent 10% correction on the Dow Jones. Such propaganda is easily refuted by pointing out that labour force participation rates are at historic lows meanwhile low paid workers are suffering lower living standards as their meagre wages are not keeping up with price rises. The fact that over 40 million Americans need food stamps to stay alive shows how the gigantic money printing experiment of the Fed has no succeeded except for transferring huge amounts of wealth from mainstreet to the 1% who own over 80% of all wealth in U.S. society.
The media and politicians conveniently ignore the fact the United States is a society drowning in unpayable debts. The government debt of 21 trillion is followed by household debt of 13 trillion, student loan debt of over 1 trillion, sub prime car loan debt is over 1.2 trillion while the Fed has over 4 trillion on its balance balance sheet.
Never mind the rigged GDP and unemployment figures. See the work of economist John Williams on his shadow stats website for the real figures.
Does this all sound like an economy built on solid foundations or an economy on the brink of a major crisis?