Who Knows Better?
In my latest column for DailyFinance, "The Disconnect Between Consumer Confidence and Retail Sales," I argue that the yawning gap between these two measures is telling us something. Chances are, it's saying that consumers know better than the official statistics...
Same Issues, Different Choices?
In "Gen-Y Now Taking Cash Advances From Pets," Infectious Greed's Paul Kedrosky highlights an interesting graph from a Western Union survey that sheds some light on how the younger generation is coping with challenging economic conditions. While their responses match...
In Bad Shape
Although I've said it before, I still can't believe that anybody is talking about economic "recovery" with a jobs market as bad as the one we have now. Aside from all the other data we've seen lately, here are three...
Parallel Worlds
The world according to Washington: "Obama Confident No 'Double-Dip' Recession Coming" (Associated Press) CHICAGO – President Barack Obama says he is confident the nation will not suffer the "double dip" of back-to-back recessions. The rebound of the U.S. economy appears...
Not What It Was
There's been plenty of debate about whether the changes we've seen in consumer behavior are a passing fad, or whether they reflect a structural shift that will linger for many years to come. Yesterday's post, "Moving Away from Conspicuous Consumption,"...
Nothing to Celebrate
To borrow from the title of a recent New York Times op-ed by U.S. Treasury Secretary Timothy Geithner: "Welcome to the Recovery!" (Image: Source) "Wary U.S. Employers Keep Hiring Plans on Hold" (Reuters) LEXINGTON, Kentucky - Anyone puzzled by the...
A Broken Link
Although many U.S. residential property owners once viewed their homes as ATMs, it's apparent that attitudes have changed. In fact, as the following chart suggests, the link between retail spending and mortgage refinancing activity appears to be broken. One likely...
Not Exactly a Pretty Picture
The Associated Press has posted an interactive version of its Economic Stress Index, which reveals in graphic detail how economic conditions have evolved since late-2007. Below is a snapshot showing the changes in the combined impact of unemployment, foreclosures and...
Just Tell Me When
OK, here's the "official" line of what's ahead for the largest segment of the economy: "Bernanke Says U.S. Consumer Spending to Accelerate" (Bloomberg) Federal Reserve Chairman Ben S. Bernanke said rising wages will probably spur household spending in the next...
Not So Encouraging
The following is a graph from a post I just wrote for DailyFinance, "Is the ISM Manufacturing Report Flashing a Warning?" which suggests that today's data might not be as encouraging as investors seem to think when viewed in a...
