I am EXTREMELY alarmed at this recent figure (and of course doesn't incl latest qtr) as it is now near 30% HIGHER than previous 1929-1930's extreme!!
And seeing personal savings rate at ZERO, and wages gains infintesimal.....the NOV $8 Billion decline in Consumer Spending if trend continues will also spell trouble for economy.
Taxes, food...almost everything increasing in cost....OIL now back near $50.....a STICKY WHICKET is what we got.
Some car manufacturers now stooping to desperate measures to sell auto's are giving ONE YEAR INSURANCE for FREE?
Some hybrid's.....but most of DETROIT is expanding HORSE POWER and SIZE of vehicles, with NO mileage mandate from Bush ADM..conserving...considering high gas costs is NOT a priority.....as the USELESSS HUMMER's sell like hotcakes.
WILL housing data fall flat this AM? I suspect it might, the selling of the market has only begun.....and few are prepared for a less than perky 2005.
Duratek
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