In spite of the Federal Reserve, the US Department of the Treasury, the World Monetary Fund, Bernie Madoff, Congress and even Donald Trump, indications are that the last few weeks have shown an incredible turnaround in the economy.
However, based on in depth analysis, most of this is due to buying back-to-school supplies and clothes, and can be expected to be a relatively short term phenomenon.
Several parents were interviewed outside various retail stores. Most had the deer-in-the-headlight look, and several were staring in disbelief at empty wallets. One father suffered second degree burns after putting his credit card directly back into his pocket immediately after outfitting his six kids.
Although politicians have claimed credit, economists have pointed instead to the American school teacher as the cause. Although the back to school season will soon be over, any good news is – well – good news.