M2 money supply took another $30 billio leap last week. Could this still be Europeans stashing money in US banks? Seems like it's gone on for quite a while now.
werserwiVery impressive!
Scott,Thanks for revisiting this. It appears the economy and markets are rhyming with last year. If the equity markets behave in a similar fashion, we are in for a fall/winter rally that carries into January 2012. Incidently, the market has taken back all of those gains past november 2010. IMO equities are offering truly uncommon values vs bonds.
Another tour de force by Scott Grannis.I am especially impressed by corporate profits--this is what the private sector can do, eliminate costs and still produce. They take opportunities to demobilize resources, when possible.Compare that to our coprolitic federal agencies, which only cost more every year.
Does society exist to support the economy, or does the economy exist to support society?None of your chart metrics reveal anything about how the economy works in people's lives.
Awesome post. I thought your bullish case last year was solid. This year? I'm not so sure...Europe scares me. At least today there is little risk of more massive regulations (although they keep trying hard).I was just 30 feet from Ben Bernake in Minneapolis today for his speech. The most significant thing he said was: "While prompt and decisive action to put the federal government's finances on a sustainable trajectory is urgently needed, fiscal policymakers should not, as a consequence, disregard the fragility of the economic recovery."In other words, cut spending, lower tax burdens. The problem is Obama hears this same line and will want to spend another trillion dollars and tax millionaires and billionaires.
This was the third blogpost from Scott Grannis on his blog in September 2008.It was ISM-M.The economy was already in a NBER recession for eight months.Grannis (like his club for growth buddy, Wesbury) is a useless prognosticator.
Thank you for providing updates.
yep. no reason to be cautious, careful or skeptical. grannis proves it makes sense to cheerlead your way to prosperity. uh. THE EUROPEAN DEBT CRISIS IS A SEVERE LIQUIDITY SHORTAGE, ABSENT A FULL GUARANTEE OF ALL SOVEIRGN DEBT.
Note the excellent chart on the drop in real estate values, both commercial and residential. Commercial has actually taken a bigger whack then residential. No Fannie or Freddie involved. Be wary of politically correct explanations for anything, from the left or the right.
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