Where is the US economy headed?

From policymec.com.


They are crazy! INSANE.

... the bullshit queen is INSANE!

Indeed, the American people might have to overthrow their government one day
and this possibility was known when our founding fathers wrote the constitution.

I did not know that the NRA was lead by a lady, who is she Sarah Palin?

But your little pea-shooters will be of no use if ever the American people, a rather nebulous concept although it does sound good I must admit, attempt to overthrow their government.

cicerone imposter is the bullshit queen

People like you will used as human shields by one side or the other.

Holy **** I would have never known that CI was your leader. Let me guess you rebel from him just as the devil did with God?

My leader?

Damn, you are really confused!
Happy hour arrive a little early today?

I apologize, I thought that you may have been a member of the NRA

Nah--I'll be with the government. You needn't get into any botheration about that.

and they will use your dumb ass as cannon fodder.

The Dow Jones Industrial Average is firing on all cylinders, trading at a record high. The S&P 500 is also close to its all-time record. Technology and small-cap stocks are blazing along. The amount of new stock market wealth created in the first week of March and in 2013 has been great. Add in the better-than-expected jobs numbers and a decline in the unemployment rate to 7.7%, and you would think that the U.S. economy is back, loaded and ready to go. But we may be closer to a financial crisis than most think.
Here’s the problem: the creation of stock market wealth is heavily weighted with the institutional money and the top one to five percent of the wealthiest Americans. (I use the wider range of the top earners, since you have to be doing fairly well to be in this group.)
There’s an old saying—“Money makes money.” But let me put it another way: making money on $1.0 million is a lot easier than making money on $1,000. Earn two percent on $1.0 million, and you’d have an extra $20,000. Make two percent on $1,000, and you only have $20.00, just enough for a dinner for two at McDonald’s Corporation (NYSE/MCD). All I’m saying is don’t be fooled by the new headlines talking about how well America is doing, as a financial crisis is still possible.
The housing market is booming, but we all know that the rally in prices is partially due to rich investors and institutions buying cheap properties from those who had to sell or be foreclosed on due to a lack of funds to pay the banks. It has basically been the rich making money on the backs of the less fortunate; this has largely been the case during this recovery, and it supports my idea of an impending financial crisis.
I’m not convinced that things are better, so a financial crisis is a reality.
The unemployment rate has fallen. For some, that means it’s time to cheer, but the reality is that there are still some 22 million Americans who are unemployed or have simply given up looking for work. Doesn’t this indicate a possible financial crisis down the road?
Ask the shoppers going to the food banks and dollar stores and the renters who are fighting to pay the rent if America has strengthened based on the wealth creation in the stock markets. I can tell you that the poor and lower-middle class don’t care about how the stock market is faring. This group is just trying to provide the necessities of life and avoid a financial crisis.
The gap will continue to be significant, as the rich have a much larger base of wealth to work from and can accelerate the growth of their net worth much quicker. Given this, I would buy luxury stocks, such as those in the high-end retail sector, as the rich will always have money, regardless of a financial crisis.
So despite the Dow continuing to trade at record levels and the labor market improving, we are nowhere near a recovery, as the media is claiming. In fact, we may be closer to a financial crisis. In other words, the housing recovery is suspect, so avoid housing at the current levels; the country may be under the threat of another recession and financial crisis.

Yes as if the Dow was down and the labor market was not improving would lead a person to think that things are more secure?

Only a person such as yourself...

H20 posted a long article just now. He perhaps should have given the source. Otherwise people might think he wrote it!
And he posted (not once but twice over two days) links to stuff by George Leong, a self-proclaimed prophet of economic doom. He has this loooong power point talk covering the period 1910-2013. It has a warning at the beginning about the contents. I kept expecting some sex!
Leong did mention how back in 1910, a bunch of bankers from around the world secretly met at Jekyll Island to plot the foundation for the Federal Reserve. They only referred to each other by first name. They didn't want "the servants" to know who they were. Or perhaps they didn't want it known that many of the men had Jewish sounding surnames as they conspired.
Anyway, Leong turns out to be peddling a news letter (12 issues for $295). But if you subscribe right now, it is only $195! It contains valuable tips how you can prosper in the coming Armageddon. But wait, there is more!
He will also tell you about two stocks that you should buy NOW. He doesn't mention them by name, but he does suggest that they are not based in the U.S. They might be "Penny Stocks" that are often used in pump and dump operations.

I just love this "doom and gloom" scenario as our economy continues to get stronger, and the stock market reached 15,000 today!

Most of us who live in the US must have faith in our own economy, because "that's all we have." If our economy hits the basement, so does the rest of the world, and we'll all be "on the same boat."

Here's some recent stats that I have faith in.
a) Home prices rose more than 10% in the past 12 month period
b) Household debt is down by almost 25%
c) Employers are adding an average of 188,000 jobs per month
d) Gas prices are down for the past year (which translate into more purchasing power for "all" consumers
e) Lower interest rates are saving Americans money by refinancing their mortgages
and f) Consumers are spending only 36% of their increased income

Those are all positives for our economy. Doom and gloom? Where?

I have very little in the stock market so I missed the recent rally, darn it. I'd be wary about whether it can go much higher.
I follow housing much more closely. It looks good with gains throughout the country - particularly for 1st time buyers.
(Disclaimer: I am bringing 5 townhomes to market next week @ $200K each. We'll see how that works out.)

My wife and I planned early in our marriage to save 15 to 20% of our income, and to invest it for our retirement. It's worked out very well; I've been retired since 1998 and drawing funds from it as I needed it. I've been withdrawing more than the RMD, and "my" balance is still very healthy.

At my age, I'm not going to worry, because our home will bring in a few shekels when we sell in a few years to move to a retirement community.

Besides, I've done almost everything I've wanted to do with my life, and have been blessed in many ways.

My health is still pretty good too! Can't ask for more than that.

realjohnboy has just mouthed off. He perhaps should click a link or two before getting uppity.

Source provided.

I was referring to the post that begins with "The Dow Jones...is firing on all cylinders..."
I missed seeing the source. Sorry. What was it, again?