We're all better. Now that didn't hurt too much. Helicopter Ben says the recession is over. Third quarter GDP will probably be between 3% and 4%. It is amazing what you can do to GDP when you hand people thousands of dollars to buy cars and new homes. You just print trillions of new fresh dollar bills, drop them from helicopters and poof - positive GDP. Why didn't we think of this before? So gold keeps going up and the dollar drops to new lows every day. That can't be signaling anything. Right?
I'm sure the American consumer has paid off their debt and again is ready to spend. But wait. Let's take a gander at the charts below. Total household debt has PLUMMETED all the way from $13.9 TRILLION to $13.8 TRILLION. OOPS!!! You mean after all this pain and suffering, the American consumer has only paid down .71% of their total household debt? It appears so.
But of course the debt burden must be getting lighter. Wrong again. HH debt as a % of GDP has risen from 95.6% of GDP to 97.3% of GDP. Oh Boy. This doesn't jive with what I hear on CNBC and MSNBC.
I can't believe that the shills who manage billions of your dollars would mislead you into thinking this recession is over. Go celebrate by buying something from Tiffany. Remember to use that gold card. All is well.