Never mind the moaning and whining about the U.S. economy. The people actually driving it are in fine shape.
The Federal Reserve reported Household debt burden hits record low:
The household debt-service ratio – an estimate of the share of debt payments to disposable personal income – fell to 10.38 percent, the Federal Reserve said on Wednesday.
That was the lowest since the series started in 1980. In comparison, the ratio, which takes into account outstanding mortgage and consumer debt, was 10.56 percent in the third quarter. It peaked in the third quarter of 2007, shortly before the U.S. economy fell into recession.
Take a look at the previous troughs: they approximately coincide with two epic runs in stocks. We know there’s a way. But is there a will?