Macro Outlook
November 06, 2006
Macro Outlook
Wages ups, benefits up, unemployment at a five-year low, planned layoffs down, consumer spending up...
So why is consumer confidence in the dumper and productivity growth at a standstill? And why did the stock market just put in such a dismal week?
It appears that we are working at cross purposes, and nowhere is that clearer than the fervent wish of many financial professionals for a Congress that does even less over the next two years than it did during the last two years.
Tonight I will write about the election. It will hopefully be one of only two essays on this topic. The second will follow voting day, and then we can put a knife in the subject.