What is going on in the economy

We are still in a deeply depressed economy. The GDP sometimes goes up, the unemployment sometimes goes down in different places differently. But the overall depression is still strong everywhere, including the United States. The number of jobless is too high.  The structure of the economy that lead us down this Rabbit hole is still in place everywhere. The changes are barely cosmetic.

Real indicator showing where the things are: American fertility fell down with the stock market in 2008, and it never recovered. The Pew Research Center shows that U.S. birthrates hit the lowest rate ever recorded in 2011, with 63 births per 1,000 women of childbearing age. (In 1990 the rate was 71 per 1,000 .) For the first time in memory, USA citizens are having fewer babies than the French or British.

We have to adjust our expectations accordingly. Never should ideological joyfulness cloud our mind. We do not see the end of the tunnel yet. I will tell you when we will be out of the trouble.