"Stocks were cheap two weeks ago, and even cheaper today."
Brian Wesbury on the markets:
"Looking ahead over the next few weeks, we think the data will affirm the rebound from the soft-patch story. Retail sales, reported this Friday, should increase by about 0.7%. Next week’s report on industrial production should show a gain of about 0.4% and the following week’s report on July durable goods new orders could be an outright boom because of orders for new planes from Boeing.
In other words, we have yet to see any real, data-centric, sign that the economy is falling back into recession."
We shall see what we shall see.
"Looking ahead over the next few weeks, we think the data will affirm the rebound from the soft-patch story. Retail sales, reported this Friday, should increase by about 0.7%. Next week’s report on industrial production should show a gain of about 0.4% and the following week’s report on July durable goods new orders could be an outright boom because of orders for new planes from Boeing.
In other words, we have yet to see any real, data-centric, sign that the economy is falling back into recession."
We shall see what we shall see.
In Atlanta on Sunday afternoon we visted a tony mall known as Lennox Square. Had to search 5 minutes for a parking place. Had to wonder if people were blowing their wad because things are so bad, or otherwise. We noted that lots of people were holding bags. They had purchased. We walked out without one. We had not.
We shall see what we shall see is right. E.
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