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According to the latest government data, the US economy is growing faster than expected, inflation is largely under control, jobs are plentiful and consumer households remain "resilient".

So from this perspective, times are good.

But talk to real consumers and you hear a very different story. The cost of living is at crippling levels, forcing consumers to stop saving and put an increasing amount of their living costs on revolving credit -- which currently charges record high APRs.

Consumers looking for new jobs report the market is not nearly as hungry for workers as the government numbers suggest. Instead, hiring freezes and layoffs are prevalent.

From their view, times are tight and getting tougher.

Which story is the more accurate one?

And should we expect things to get better or worse from here?

For answers, we're fortunate to turn to Danielle Park, president and portfolio manager for Venable Park Investment Counsel, Inc, where she manages millions for some of Canada’s wealthiest families. She's also proprietor of the daily financial website JugglingDynamite.com

#recession #housingmarket #marketcrash
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