On Thursday's Market Foolery, host Chris Hill and Motley Fool One analyst Morgan Housel jump into macroeconomics -- and take away a bright outlook.

Kroger's (NYSE:KR) earnings came out today. With the grocery giant's acquisition of Harris Teeter in January, and stocks hitting an all-time high, Chris sees this stock potentially as a bit of a bellwether, similar to FedEx (NYSE:FDX). Chris asks Morgan about the state of the economy, and what the great earnings may suggest about the future.

Morgan offers that wage growth may be on the horizon. With short-term unemployment at nearly the lowest level in the past 50 years, Morgan sees this as suggesting great opportunity going forward. Although Morgan sees very few correlations between the economy and the market -- just look at the past six years -- he thinks that it looks like a turnaround may be in the future. Then, Chris and Morgan discuss the relationship between spending and income.