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Market Bottom Already? I Don't Think So

Consumers power the market. If the dollar stays low or continues to decline, export sales will ramp up and prevent great job losses. Although high prices for commodity necessities plus housing value losses are crimping consumer spending, and will continue to do so for some time, a 6-12 month timetable for production adjustments to reduce those prices does not seem to me unreasonable. With our population growth, aggregate spending will resume its rise even if per capita spending does not. Combine exports with flat to slightly improved consumer spending within the year, and you get a resumption of sales and profits.