If Ben Bernanke and the fools at the Fed actually thought the industrial economy was recovering, they’d jack up interest rates. When the prime rate is up around 5%, you’ll know the industrial economy is back on track. Alternatively, you can monitor the extinction rate of non-human species.
We’ve known this was coming for a long time. Every empire is built on a foundation of
sand debt. The Ponzi scheme works for a while but, at some point, the debt we’ve passed along to future generations must be paid. The alternative is default, which can happen with extreme rapidity. The latter option is increasingly attractive because the current U.S. debt of $10.5 trillion far exceeds the value of all the currency in the world combined with all the gold ever mined from planet Earth. This seems like a problem to me.