Consumers spent a little more than was expected of them. And manufacturing did a little better than expected too. On the other hand, the federal government’s tax receipts plunged.
What’s best for the fellow who bought a house he can’t afford? Isn’t it to get out the house as soon as possible? What’s best for the fellow who didn’t save enough for his retirement? Shouldn’t he start saving as much as possible as soon as possible?
The adjusted monetary base is exploding. Bank reserves are literally through the roof. The Fed is flooding money into the system in an effort to get banks to lend. What does this all mean?
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