While he pointed to various data points and recounted a number of anecdotes to prove his point, Shilling's argument was simple: the consumer strength we saw earlier this year was fleeting and highly accommodative policy from the Federal Reserve and the possibility of more quantitative easing are the only things propping up markets right now.In fact, the fundamentals of the economy lead him to believe "the U.S. economy is overdue for a recession."
Most importantly, Shilling writes that "consumer spending is the only major source of strength in the U.S. economy this year," but now all signs point to retrenchment:
While consumers should be "reduce debt and rebuild net worth, they have been doing the opposite lately."
However, continuing sluggishness in hiring lead Shilling to believe that this trend is unsustainable. "The U.S. has a lot of job openings, but having endured huge layoffs in recent years, employers are being very picky in new hiring," he writes. Read more.........
slowest year for my business since the start of 2001 see a new tend and its everywhere
ReplyDeletethink that we are not headed for problems ? ask your local sheriffs dept what they think of economy .. they serve papers for all the crap thats going on . The fact is the 2007/2008 recession is now today showing all the indicators of a unstable real estate mkt , job mkt and soon a stock market crash. look , if it all sounds crazy and everything seems to be improving ? Take a real good look at europe. i have nothing to do with this site, glad its here ! some say glenn beck was or is crazy , not sooo fast! he could be the most legitimate spokesperson for things to come. Yes certain , and only certain sectors have improved or getting a lil better , but, hold on my friends..... its reality and its coming sooner then later. America should of never ever gotten rid of the steele manufacturing here ! why ? jobs , manufacturing hope and benefits! gas@ near 4.00 per gal ! gimme a break.....
ReplyDelete