How Sound Is the Economy?

Another perspective on the economy. It does seem to me that wage stagnation is a very serious issue that is not being discussed adequately.

"For eight years we have papered over the fact that American consumers do not have the purchasing power to sustain economic expansion. As a report I authored a little more than a month ago details, the wage and salary increases that have occurred since 2000 have not been sufficient to even maintain the level of income that most families enjoyed at the beginning of this decade. Employment has not kept pace with population growth. And even though worker productivity has increased by nearly 20 percent over this period, weekly wages are barely higher than they were on the day the current president took office. // The erratic shifts by this administration between radical free market laissez fairism and heavy-handed government intervention in financial markets is making it increasingly apparent that its officials refuse to exercise detachment in examining the underlying problems that face the U.S. economy and are incapable of addressing those problems in a deliberate and effective manner. That perception is adding further to the traumas now plaguing U.S. and global markets." How Sound Is the Economy?: