But Mario, don't you remember , this is the goldilocks economy, and the US can support the world economic woos. The US consumer can afford 2.50 gas and since there is no inflation, and we are told everyday to buy stocks, any stock, across the board, that the dow will be 12K by years end. I've never seen this much complacency in the market as the fear of it going down has been non-existent. Now we get to see the buy the dip mentality get run over for awhile because of this attitude. Remember, they are out to screw as many as possible, long and short. The games continue
Well it might be actually different this time. We are in for a plethora of bad news this week. Oil will continue to climb especially after the wed. report. The ISM will be below estimates and the fed will raise and keep the wording, disappointing the markets once again. Pre warnings are up at their highest point since 02. The Mich survey will decline. As the old song goes, "they're ain't no cure for the sometime blues."
HA Ha. Yes, you are right. the consumer has unlimited spending power! Look at what the US workers already support - about all of the oil Arabs, about all of the Chinese, the UN, millions of poor people around the world and half the Israelis, and who knows how many more, including about 12 million illegals in the US.
When you add them all up, the average US worker has to support their wife and 2 children, about 3 Arabs, 5 Chinese peasants, a UN bureacrat, a poor person somewhere on foreign aid, and share an illegal maid with 7 other workers!
That means the average US worker already supports about 14 individuals including themselves. In addition, each head of a traditional family of 4 owes about $200,000 to the government for accrued deficit spending.
Truely, the consumer spends wildly without pause or reason, and can easily afford much higher gas prices if only the government would drive prices up further!!.