You can't have a tripling of the markets if revenue were continually down. It is not that they are down but rather less than most analysts have expected. It is clear the consumer has gone thru tough times. It is also true that the low rate environment has helped pair down debt and reduce monthly payments. Housing has recovered enough to create a comfort zone. I absolutely agree that we need to see wage growth exceed inflation growth in order to have continued bull run.
To just use wages as a barometer or revenue growth would have left you with missing out on this big run. Jobs and now wages seem to be steadily picking up. in fact the last 2 months income growth was .5 percent. There are signs that that will continue. the big question is how slow the economies of the rest of the world will get. I suspect it is not going to fall apart. If we have a period where the US and the world start a true recovery together it will create a huge spurt for world markets. Have no idea how that can play out. It hasn't happened in a long while.
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