Retail sales are on deck, with gains expected at a meager .5% and the all markets eying the all important consumer. Sell side personal flood the airways of the importance of the average citizen to start spending again so the recovery can take flight.
On the other side , The U.S. and Europe square off in a battle of austerity jaw boning .Both sides in awe of the crazy spending that got us here in the first place! Saving money may be a prudent thing to do but according the experts we all need to forget saving and do our civic duty to spend to boost the economy? Or is it our duty to all get more credit cards and spend to support the TBTF banks who borrow at 0% to lend to consumers at 25%, backed fully by the taxpayers in case one of these banks should fail with this business plan.
Seems that many are hopeful we get back to our spending ways so the giant pyramid game that is our economy continues. Maybe soon a Retail spending number in line with a jobs number or wage growth would be looked on favorably? For now though it won’t work that way and markets will cheer hard any upward surprise today! Seems like our whole economy needs a trip to group therapy?