Don't Blame Me, I Voted For Kerry Message Board

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Politics : Don't Blame Me, I Voted For Kerry

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To: CalculatedRisk who wrote (34332)	7/9/2004 9:04:48 AM
From: ChinuSFO	Read Replies (2) of 81568

Stagflation, anyone? The slowdown has begun All those bits of bad or mediocre economic and corporate news are not a coincidence. This isn't just a hitch in a recovery. By Bill Fleckenstein Stock bulls are sanguine and consumers are even more sanguine, at least if we are to believe the latest government-calculated consumer-confidence number. The feel-good mood is based on the belief that the economy is now firmly on the path of a self-sustaining recovery. My belief, however, is that we are starting a post-stimulus slowdown. What might get folks to readjust their perception? Earnings weakness or economic data that buttress this point. The first few days of July arguably saw the beginning of that trend: The June employment number was far weaker than expected; only 112,000 jobs were added compared with expectations of 250,000 jobs. (I'll have more to say about this next week.) In addition, results for April and May were revised downward by 35,000 jobs. ...more at moneycentral.msn.com

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