This recovery does not feel like one because for the average American his net worth has not recovered and in many cases it is still falling.
His nest egg continues to fall as home prices continue to slide. Our economy is so dependent on the consumer and the consumer, along with corporations, are focused on getting their balance sheet in order.instead of consuming. The individual who is working is not in the mood to run up debt and consume. He is more consumed about building wealth to offset the decline in in house values. He is thinking rationally.
This is why it is critical that we focus on improving our exports. The primary engine for economic growth, internal consumption, has shifted his priorities to savings. the solution is exports.