Six Catalysts For ‘Atlas To Fall’
If there's one thing you can depend on in a world where everything's amiss, it's the US consumer.
America's spendthrift ways are the stuff of legend, an ironic outcome for a nation founded on the pithy aphorisms of Benjamin Franklin who, as Jack Weatherford put it, "believed the world would be a far better place if everyone produced more and consumed less."
Centuries on, Franklin's portrait is a symbol of America's financial prowess and consumerism taken to its illogical extreme. Franklin famo
The Consumer Credit data for February released yesterday sure confirms the risk. So much for “the consumer is in great shape.” Today’s wholesale inventories/sales numbers for February suggests another source of potential weakness.
But it appears that the uber-hawks at the Fed only look at employment data so none of this matters.
H-Man, the consumer resembles something that has been attacked by a python. Slowly squeezing the life out of it with no chance of escape.