This lack of “real” growth not the funneling of money into the market is the underlining problem we have have in out country. And that stems from so much of our production being exported to China, India and Indonesia. Most would blame business but that would not be completely fair as they had no choice as we the citizens demanded cheap goods at the same time we demanded high wages. It doesn’t seem to me that the two are compatible unless the government controls the input.  Sadly they did not as the surplus money went into funding the Treasure but buying T-bills and buy doing so the politicians had more money to play with and give us free stuff.  That works only as long as the exporters allow it to happen — right now they are telling us they no longer want to do this and are changing the international system of exchange.  That is going to be very very bad for us.