Wednesday, June 4, 2014
Joe Weisenthal needs to start reading my Weekly Indicators column again
- by New Deal democrat
I guess Joe Weisenthal of Business Insider must have stopped reading my Weekly Indicators columns, because otherwise he would have known two weekends ago that Gallup personal spending is at its highest since 2008, instead of posting it on Monday, and he would have known about the Spring spring two months ago instead of yesterday.
By the way, Joe, our new agreement with XE.com allows Business Insider to pick up the items we publish there, so long as credit for the original publication goes to XE along with a link.
So BI readers could have found out about the downturn in corporate profits, and why it isn't a big deal yet, last week instead of waiting to Hussman and Shedlock yesterday to claim it as a harbinger of DOOOOOM!
P.S.: On another matter, the new post-recession high in vehicle sales in May is about the 101st confirmation that there isn't going to be any economic downturn this year. According to Prof. Edward Leamer's research, car sales are typically the second domino to fall, before the onset of a recession, after housing. Typically vehicle sales have turned down over half a year before the onset of any recession.