Dr. David Altig's Latest
Dr. Dave Altig at Macroblog has some excellent observations on the economic climate here and the inflation situation here. Both must reads for enquiring Naybobs...
Key Quote Re: Inflation... " I find myself not so convinced by what at first appears to be good news on the inflation front... the shift in the distribution is clearly toward higher rates of increase."
Key Quotes Re: Economy... If we've reached that level (where households trim their spending relative to current income by more than is now anticipated) in the housing market (in fact and in expectation), it did not show in the consumer spending numbers for the first half of the year.
"What of the other part of the storyline -- that business investment will help ease the pain of falling investment in residential structures (and any collateral impact on consumer spending)? The headline report on manufacturer's shipments, inventories and orders for July wasn't great..."
Key Quote Re: Inflation... " I find myself not so convinced by what at first appears to be good news on the inflation front... the shift in the distribution is clearly toward higher rates of increase."
Key Quotes Re: Economy... If we've reached that level (where households trim their spending relative to current income by more than is now anticipated) in the housing market (in fact and in expectation), it did not show in the consumer spending numbers for the first half of the year.
"What of the other part of the storyline -- that business investment will help ease the pain of falling investment in residential structures (and any collateral impact on consumer spending)? The headline report on manufacturer's shipments, inventories and orders for July wasn't great..."
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