> The article pretty clearly points out that for large swaths of the economy things are absolutely just fine, that in aggregate things are just fine, that aggregate measures of debt and savings are both looking quite rosy.
That's manifestly untrue. Aggregate measures of debt are at an all time high, measuring across government, households and non-financials [1]. Household savings have gone up but that has to be placed in the context of massive state intervention. Essentially you're not only taking money from one hand and giving to the other but a massive mortgage has been taken out too, to come due on future generations at the expense of future GDP.
That's manifestly untrue. Aggregate measures of debt are at an all time high, measuring across government, households and non-financials [1]. Household savings have gone up but that has to be placed in the context of massive state intervention. Essentially you're not only taking money from one hand and giving to the other but a massive mortgage has been taken out too, to come due on future generations at the expense of future GDP.
[1]: https://www.fitchratings.com/research/sovereigns/us-non-fina...