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Trump supporters want to make believe all is well with the economy, but the reality is:
We are at negative stock growth for the year.
We are in a self imposed trade war costing billions to businesses.
We have only subsidized farmers $12 billion so they don't go under (for 1 year only ending 1/1/2019) all other businesses are eating the tarrifs, impacting their bottom line, stunting growth.
US household debt of $13.3 trillion now exceeds the 2008 peak. That’s due in part to mortgage lending, which is hovering near its decade-ago level of $9 trillion-plus.
Student loans outstanding have skyrocketed from $611 billion in 2008 to around $1.5 trillion today.
Auto loans, at nearly $1.25 trillion, have exceeded the 2008 total, while credit card balances are just as high now as before the Great Recession.
Meanwhile, global debt — a result of central bankers flooding economies with cheap money to lift them out of a funk — is now $247 trillion, up from $177 trillion in 2008. That is close to 2½ times the size of the global economy.
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