What is the state of the economy right now?

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Answer:
Bernanke is printing money like crazy and that money is mostly being invested. People are buying stock, overseas stocks, homes, and have a lot left over for the bond market, that is, more money is available to borrow then ever before.

And the Federal Government is right there as well borrowing and spending money, again, stimulative for the global economy in the short term.

Huge asset inflation is going on making a lot of people richer and therefore they are not concerned about how much everything is going up in price: rents, homes, healthcare, day care, education, food, energy, etc.

The middle-class see it, but they are a very quiet group, they feel keeping their mouths shut and not admitting the problems, is better, like, what others don't know about me, that is, that I live check to check, is what is important. As long as others don't know it, it's okay.

Clearly, the way the Fed calculates inflation is nuts, and I am not just talking about the argument with the overall inflation and the so-called core inflation.

Corporations are right there feeding the liquidity boom as well: stock buybacks, private equity, subprime loans, bond rating agencies rating lousy bonds with AAA status, and a bunch of politicians making the laws who don't know the difference between a stock and a bond.

Once all the dollars in overseas Central bank faults start to come back into the US, inflation will be so bad that even Wall Street and the Fed can't hide it anymore.

The dollar, which is at or at the very least, close to an all time low will go down even more, creating even more inflation. There could easily be a collapse in the dollar and bond market.

It is too late to do anything about it now, all Americans can do now is to sit back and enjoy it while they can, because this economy is not based on fundamentals and good business, but on a global liquidity boom started by Greenspan and continued by Bernanke.
Depends on your income
Rich = excellent
Poor = lousy
People say its bad because of Bush, but the fact is were still the richest country in the world and we continue to make money and grow.
varies across industries. oil is doing real good, the dollar is not.

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