Let’s see the bulls try to spin this positively — 10:00 ET Consumer Confidence 76.6 vs. 85.0 consensus — My first guess is that the weak job market is weighing on consumers. So of course the bulls will come back with “that’s a lagging indicator”…
Update: Here’s more detail (from Briefing.com):
10:15 ET Economic Review [...]
Let’s hope this doesn’t happen over here - Suicides in Japan Over Job Losses, Debts Hit Record High.
(Hat tip to Charles for the link.)
Again, this is why I try to just stick to the charts: Data in Conflict: Why Economists Tend to Weep
I guess the bulls will say “What’s that got to do with us in the U.S.?” - The European Commission has predicted an even gloomier outlook for the eurozone than its previously cut growth forecasts. Talk about a wall of worry!
CNN has an article examining the job market. As you can see by the chart, the unemployment rate is in a clear uptrend. Yet the bulls will just say that employment is a lagging indicator, and that the economy is improving. So maybe this report is just another brick in the wall [...]
I’ve finally caught up with my (short) stack of Fortune magazines. Here are some articles that I think are worth a read, as well as some non-Fortune material. (Note to self - stop subscribing to magazines that give away their content online!)
Taxpayer, Beware! - Washington will soon be taking back a good chunk [...]
I thought I’d post a chart of the dollar since I’d been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term [...]
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