enigmaman

Closing Update: Stocks String Together 3 Straight Wins, Commodities Gain

consumers reduced credit borrowing by 21.6 billion in the month of June, economist predicted the number to be 4 billion so the economic geniuses who tell us what to expect from the future missed by a factor of 5, what else might they have gotten wrong about the economic recovery, for one thing if they are waiting for the consumer to return they will have to wait a lot longer then they expected, multiple by 5 the number of months they had anticipated the return of the consumer and then maybe we will be dealing in reality, this sobering consumer stat has to do something to make the market pause and ask, WHAT!