haxxiy on 09 August 2018
I've been saying for a while the US is deep on a massive bubble of consumption, and has been since 2012 or so. It's mostly heavy subsidies and lack of proper taxes to companies that retail online like Amazon which has kept inflation from climbing too quickly and bursting it already.
Very little of the post-2008 crisis recovery has been due to an increase on productivity, most of it was merely consumption or people being re-employed. That's not just the US but Germany, UK etc. as well, though in Europe and Japan consumption has moved on slower and more sustainable rates.
