With the optimistic rhetoric of the beginning of the year fading, retailers are beginning to react to falling expectations while simultaneously hoping that even those will actually be met and not further downgraded. I could use any number of economic statistics to demonstrate this depressing the consumer impulse, and the timing of it, but it all really comes down to [...]
Following up on this morning’s analysis of structural changes in the automobile markets globally, we see the same structural observations in the labor markets. If there does exist a strong relationship between household income and auto demand, and it is pretty clear that one does, what we find in employment trends is unsurprising. The latest jobs report, including revisions to [...]
Government spending and inventory builds were good in Q3, according to economists, when they pushed GDP accounting above expectations. Those same two economic accounts dramatically reduced economic activity in Q4, so economists are now intimating that the resulting contraction is something other than real. On the part of government spending, it probably should be ignored and certainly GDP is a [...]
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