There may be somebody else taking the baton now, which is not unusual in a recovery. Housing is typically the leader out of the desert to the promised land; but, just like Moses didn't make it to the promised land, as rates rise, housing doesn't quite make it, either. Other sectors do.
The problem is that labor has basically priced itself out of the market. We had a very sharp run up in compensation costs in the late 1990s. People got too expensive and they're still too expensive.
Those are all economists. They used to be employed by Wall Street, and now they're consultants.
The steel tariff cost more jobs than it saved and I'm sure this Chinese bra ban will also contribute to net job losses.
The labor market is improving, optimism is improving and spirits will be higher this holiday season. Sales are going to better than OK, they're going to be good.
We're a what's-my-monthly-payment nation. The idea is to have my monthly payments as high as I can take. If you cut interest rates, I'll get a bigger car.
You're going to see good profit growth over the next several quarters, but it's not going to be as strong as it's been of late. Still, it will be better than a poke in the eye.
Nobody wants a strong currency, and since the U.S. currency is fundamentally weak, foreign central banks need to buy up dollars to keep their currency from appreciating.
Measure of the financial deficit that households are running at an annualized rate.
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