Yes, one more data point indicating we hit the wall right around year end.
(ISM, car sales, payrolls, redbook sales)
Maybe the stock market scared consumers? Cliff is convinced stock market drops cause consumer retrenchment and recessions. Can’t say I disagree with something like 75% of Americans now holding shares.
But something did change and very quickly. .
comments welcome!
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Mr. Mosler–terrific site. “Professor” Depew who publishes on the Minyanville website argues–from charts he has just published- that the deadly combination of tightening credit standards and the concomitant decline in the demand for loans has pushed us into what will be a deep recession to be followed by broad declines in all asset classes. Deflation is more likely than continuing inflation. I believbe that this is thwe opposite of your view. Can you comment in light of the poor economic figures from Tuesday Feb 5? Thanks, Robert Millman
I see more support from the ‘income’ side than he does. Increasing net govt spending and the decreasing trade gap due to exports could add an extra 4% to gdp over the next year.