Is the economy doing well?

On the standard measures right now, The US economy looks reasonable. What it doesnt show is how bent the fundamentals are to give that impression. The Fed has been printing money for a decade. Interest rates are at zero, employment has a background of a two year pandemic hitting labor and the stats being massaged to get as many people off the books as possible and Credit debt having risen over $40 billion in the last quarter. So people are spending to max out credit and what comes next is a crash. The P/E Ratio on most major shares have halved in a decade, which is another major clue that things are not well with the currency. Now Biden has Announced the Fed will stop printing money and that announced will increase inflation. The share market will take a dive and a recession will follow. But its a rebalancing of the economy. The trouble is that the economy is going to take a lot of rebalancing and a lot of people are going to be hurt. Thats all inside America. Now from OUTSIDE America, The US owed the rest of the world around $40 Trillion in borrowing, for goods and services it has already had and consumed. A rough rule of thumb is that every US citizen owes Japan, China, Saudi Arabia and the EU around $70,000 And when the US economy falls over, it will hurt every other nation as well. Upsetting trade and finance. Some of these countries, seeing the value of the US$ plummet, may decide that America needs to pay for the next shipment in something else than $. China are currently starting a push to become the new reserve currency. This will take years. But its going to happen. When it does America will lose control of the Bank in the world game of Monopoly and someone else (read China) will set the ground rules to suit themselves.😷