Once again, we can trace this back to Nixon Shock.
Real Compensation Per Hour
Median Home Prices
Real GDP vs Total Credit Market Debt
The Fed discontinued the total credit market series in the fourth quarter of 2017.
Total; credit market debt was roughly $1.7 trillion when Nixon closed the gold window. At last report it was $68.6 trillion.
It takes massive amounts of increasing credit to produce relatively trivial increases in GDP.
Gold vs Faith in Central Banks
Everything Under Control?
If you don't think so, buy gold.
Mike "Mish" Shedlock