The mirage economy

For those who are wondering "what's going on with the economy?" this is an excellent article. It's much too easy to look at recent events as one-off problems rather than the collective result of policy. The upside is that when the US is focused it can reinvent itself better than most countries and bounce back. The downside is that because of this long "mirage economy", it's likely to be uncomfortable if not painful.

We still have to face up to the fact that the US middle class has been on the decline for over three decades and no matter how much candy coating or new fangled voodoo economics/financing you throw out there, that is just the way it is. Pulling ourselves out of this hole will take time, not to mention honesty from Washington. Business as usual is not going to cut it.