In order to defer the next debt crisis, Washington seeks still another timeout.
After the latest jobs report, U.S. markets soared. The Dow Jones climbed to 16,020, while Nasdaq roared to over 4,060 and even S&P 500 exceeded 1,800.
However, today only 52 percent of Americans are personally or jointly invested in the market — the lowest level since the 1990s. What drives the U.S. economy is consumption, which accounts for more than 70 percent of the GDP. And yet, retail spending over Thanksgiving weekend dropped for the first time in seven years. The gap between Wall Street and Main Street remains deep.
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