|Buying Is Easy-Paying Is Hard!|
|An Inconvenient Truth|
Decades of overspending, undersaving, offshoring our jobs and a slew of bad habits coupled with bad policies have brought us to where we are today. It is easy to make promises, and we have made many, but the tough part is keeping them. It is hard to ignore that other than a very short-term stimulus or a temporary prop artificially low-interest rates have some rather bad and damaging side effects, if that were not true they would be the norm. In November of 2014, the national debt was poised to pass the 18 trillion mark. As of now, the National Debt Clock shows 777 billion dollars has been added to the total and the amount owed continues to grow. Ironically a big part of the discussion in both Democrat and the Republican presidential debates centers around growing inequality and jobs supporting the very important middle-class lifestyle that propels this county forward. As candidates elbowed each other aside to take credit for our few victories they made even greater efforts to distance themselves from the many failures.
Adding to the confusion is that some of the numbers put out there for us to absorb are somewhat questionable and based on facts or assumptions that carry rather negative implications. A MarketWatch reader who I will identify as JB commented recently; "I counsel a lot of people who are out of their careers and have a family and can not find work. Many are taking out their pensions to live off of because they can not find work. That is going to be the next big crisis is all the people laid off or unemployed taking out their pensions." It appears to me this is a big reason the labor participation rate should be front and center as well as the quality of the jobs being created. It is clear this does not paint a picture of a bountiful future.
Consider this a vivid reminder that success has many fathers and failure is an orphan, but at the end of the day we are left with reality, and as of late it is not a beautiful thing. To those who think all is well I would like to remind them of the old saying, "you can't tell a book by its cover". This means those with an agenda will go to extremes to spin news such as the recent job numbers, but what we are told could be wrong. When we delve a little deeper into the story of our economy sadly, we find it is not a tale of redemption and growth but a horror story based on deceit. The average American is not reading these words because they really don't care or prefer not to know about the problems we face. Timing is another issue, and it seems never a good time to bring up the bad news. This is why the masses often react with surprise and shock when reality raises its ugly head.