- by New Deal democrat
First of all, I want to welcome financial, investment, and other readers who are used to reading me at The Economic Populist and have followed my link over here.
This is a particularly big week for economic data. Beginning this morning and continuing all week, we will receive data that will update 4 of the 10 Leading Economic Indicators, which as I will discuss later, are at a crucial inflection point. In addition to car sales and personal income and spending, on Friday we will also get the latest update on the 800 pound gorilla of coincident indicators, July nonfarm payrolls.
Investors and financial types may be concerned with all sorts of indicators, but for average Americans it is all about wages and jobs. Another "jobless recovery" may be good news for producers and investors, but the country will not stand for 10%+ unemployment for very long without some serious social and political earthquakes. That's why I am inclined to drop the term "jobless recovery" and begin using the term "jobs recession."
My friend Bonddad and I will bring you updates and analyses of this BIG Week of data as it happens. For those of you who may have discovered this blog from following my link, welcome and make yourself at home!