Don’t Lose Sight of The Macro Message: U.S. Personal Income Fell $505.5 Billion, Sales Plunge, French Unemployment Rises Again to Highest Since 1999, Fitch Downgrades Italy, China’s Economic Crisis Looming, Dollar Breaks 10-year Falling Channel And The Euro Is Breaking Down!
US Consumers Forced To Record Borrowing For Student Loans As Income Plummets Most In Twenty Years in January
The personal income drop fell $505.5 billion in January or 3.6% compared to December, marking the most dramatic decline since January 1993, according to the Commerce Department. This has led to economics watching consumer spending, which accounts for approximately two-thirds of the US economy.
The mainstream media is blatantly trying to cover up the real damage done in the economy.
France’s jobless rate hit its highest level in more than 13 years in the last quarter of 2012, underscoring the challenge the government faces over its pledge to reverse the upward trend by year-end.
Outgoing Premier Wen Jiabao warned this week, in his final report that China faces a series of unresolved crises, ranging from a lack of access to basic healthcare & education, to a yawning gap between rich and poor, and an “unbalanced, uncoordin…
The US Dollar hasn’t done this in 10-years, as it breaks from 10-year falling channel (see post here) and stocks keep moving higher. What is up with that?
I feel like phoning my friend Ben and asking… “What he heck is going on here???”
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Dollar breaks 10-year falling channel and the Euro is breaking down…do we risk on or risk off based upon the message from the Dollar/Euro? Should we believe the messages coming from these currencies of late?