Consumers remain stuck in a rut. The Discover(R) U. S. Spending Monitor rose from a depressed level in January.
The related linked graph demonstrates the "going-nowhere-fast" nature of the non-recovery in the real consumer economy.
These findings correlate with the continued miserable, near-trough levels of consumer spending and workers' observations of hiring or letting go at their companies at Gallup.com, with ABC's Consumer Comfort Index near its worst levels of the downturn as well.
Absent massive government and Federal Reserve intervention aka money-printing, there is no doubt that the consumer "recession" (depression) would be continuing.
Note that special stock market strength is found in Dollar Tree (DLTR) and slightly higher-end TJX, and in the generic drug company Teva (TEVA). Signs of the times.
Toll Brothers (TOL), a luxury homebuilder, is becalmed on the stock market, with earning estimates for the fiscal year ending fall 2011 steadily dropping and now not far above breakeven.
America has turned into a pretend economy.
Copyright (C) Long Lake LLC 2010
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