What's we've experienced are deceptive government antics designed to mimic economic improvement.
Noted at ZeroHedge:
As Eric Sprott points out in his latest letter, "if one looks past headline figures, things are not really getting better. As shown in Figure 1, real disposable income per capita in the U.S. has increased only modestly since the Great Recession. However, all of this increase is due to Government Transfers, not from an improvement in the real economy. If we exclude those transfers from the numbers, disposable income per capita is actually lower than it was at the end of 2005 and has been painfully flat since 2011. Also, those numbers assume that the headline Consumer Price Index (CPI) accurately represents people’s purchasing power."Let it soak in. All the billions that were supposed to buy you a recovery have pretty much been squandered in something like a Ponzi scheme. National capital is being spent to do little more than keep up an appearance of national prosperity.
Update: A reader wrote with a gentle correction to my last paragraph:
"All the billions that were supposed to buy you a recovery have pretty much been squandered in something like a Ponzi scheme."
It is "trillions" but the idea is precisely correct.BTW, for those who haven't kept tabs on the national debt, in round figures, it's $18 trillion.