Right now the markets are awaiting news from two fronts: how many more lunatic ideas will Kamala Harris propose this week, and will Fed chair Jerome Powell signal the all-clear for an interest rate cut at the Fed’s Jackson Hole meeting. He may have issued a market-moving statement before the pixels on this post arrive to your screen through the series of magic tubes we call The Internet.
Meanwhile, signs of economic trouble continue to intrude on all the happy talk of a “soft-landing” for a slowing economy. Here are two that caught my eye today. Bloomberg reports: Flights, Hotels and Parks Are All Flashing Travel Warning Signs.
If this is correct it means the job growth numbers of the last six months were mostly bogus. And that consumer who is still spending—at least at Walmart? Well:
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