Stalled Economy Performs Wealth Miracle, reports the Fed.
It’s not just the oil bust.
Though it cannibalizes the rest of the economy.
Now in San Francisco, New York, Boston, Chicago, Washington DC, and perhaps a city near you.
In turn, households get a feel-good illusion.
The “Trump Effect?”
Back to the Retail Quagmire. Gloom for brick-and-mortar stores.
They no longer shop till they drop.
“Hope” returns. But we’ve been through this before.
The Credit Bubble Peak was Marked by “Totally Crazy Lending.”