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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (62309)1/19/2007 12:19:31 PM
From: jimmg  Read Replies (5) of 116555
 
There is IMO no realistic way to look at things and conclude the economy is strong.

1. Weekly unemployment claims near all-time low.
2. Job openings at cycle high.
3. Individual company sales/earnings reports very strong. GE new orders up 19% yoy, Walmart, Target, Costco, Nordstrom, JC Penney, Gamestop, and on and on all report record sales and earnings.
4. Real wage gains are at cycle high.
5. Lower oil and gas freeing up discretionary spending dollars.
6. All-time high corporate cash flows going into share repurchases and shrinking the overall equity base.

I can go on for a long time. You get the picture. I have no problem accepting the argument that current strength in unsustainable but to argue that the economy isn't currently robust lacks credibility.

The stock market is soaring because average Americans are spending like there is no tomorrow. Most bears think it's all a conspiracy by Pig Man, Da Boyz, the Cabal, Goldman Sachs or whoever.
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