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Today's selloff comes as no surprise to Forbes contributor Panos Mourdoukoutas. He's noticed a...
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Friday, July 6, 2012, 3:37 PM ETToday's selloff comes as no surprise to Forbes contributor Panos Mourdoukoutas. He's noticed a number of warning signs: A slowing global economy and investor complacency over political gridlock for starters. More interestingly, he points out that companies such as Proctor & Gamble (PG -0.1%) and Kellogg (K -0.7%) are unable to pass on material costs for essential items. As production costs continue to rise, they should be able to offset the increase by raising prices, but can't. As we all know, in a consumption-driven economy like ours, a weak consumer spells disaster.
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Retail sales - rising (doing even better for upper-end retailers)
Auto sales - very strong and rising
Home sales - been rising for months; now, even prices have turned north
Construction industry - has returned to growth recently
Corporate revenues - rising
Corporate profits - rising
The "disaster," if there is one, is ignoring actual data.
"Go buy some coal stocks, turn off computer, and check back in six months. You'll do okay." It sounds like you think Romney will win and will get the EPA ruling on emissions for coal fired plants reversed.... I hope so. Long ARLP.