So, you want the best of all possible worlds? How about one where retail sales are sluggish and the president decides he may hold off on 25% tariffs on imported cars. That's a recipe for a total romp and that's what we got today in an explosion of buying after a hideous opening.
Look, we have to stipulate what makes a market really tick these days in a world where we are ruled by tariffs and trade with a Fed sideshow. Close followers of the economy and the Fed must find all of what I am about to tell you astonishing but they better get used to it because it's the new dialectic like we've never seen before.
As they say in sports - and this is a lot more like blood sport than it is the economy - let's go to the video tape.
First, this morning we got a retail sales number from the Commerce Department that was incredibly feeble -down .2%. We thought it would be positive but this is the second time in three months that retail sales have been down. Not only that but the weakness was widespread: autos, home centers, and internet stores. Could it be worse than that? [Read More]
Published @ May 15, 2019
National Agenda 2018: Midterm Matters with Gabe Fleisher
Sponsored by the Center for Political Communication at the University of Delaware, the 2018 National Agenda Speaker Series featured teen journalist, Gabe ...