Monthly Archives: November 2010

Why did consumer credit surprise economists?

A principal difference between this and past cycles is the relentless consumer deleveraging.  In the past, the malinvestment has been limited to governments & business – the consumer was always a good bet.  Excluding this cycle, only three times have … Continue reading

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5 reasons holiday spending will surprise

The great run-up in equities has done little to change the minds of the vocal bears.  We are constantly inundated by media stories of gloom & doom – presumably because that is what gathers the most eyeballs.  There is good … Continue reading

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