Is the US recovery for real?

China is stumbling and Europe remains supine. Investors the world over are pinning their hopes on a US recovery. But is it real, asks MacroBusiness?

The Great Recession, the worst since the Great Depression, was a turning point for the US economy. After a decade of sending manufacturing jobs overseas and replacing them with growing household debt – a process known as financialisation – the US headed into a debt crisis.

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