Tuesday, September 25, 2012

The Economy shows some life

Yes, we know. We have seen this before. But the Conference Board confidence reading for the consumer has jumped higher, an act we already have seen from the U of M Index. The weekly consumer comfort index is in upward gear too.

All this despite continuing lethargy in the manufacturing measures and still range bound jobless claims.

The economy continues to fool us...optimist and pessimist alike.

Now the Fed could only sort itself out...

Saturday, September 22, 2012

Jimmy Carter- really

I just flew out to Seattle. In flight I watched the movie 'Miracle' that I have safely stored on my I-pad.

If you have not seen it I highly recommend it. If you have seen it I'd recommend seeing it again.

It is beyond nostalgia.

The movie begins with actual news clips of the time. The nation is challenged. It features a speech by Carter that sets the stage telling us that people expect the next five years to be worse than the previous five.

I was never a Carter fan. But Jimmy was a good man if not a good president. And, he was a better president than he will be credited for as he appointed Paul Volcker when inflation began to climb.

Jimmy did not scape-goat the Fed. He appointed a guy he knew would conduct monetary policy so that jimmy would not get re-elected. But the country needed a Paul Volcker and Jimmy gave it Paul at his own personal cost.

The movie is not about this. But I am reminded of all this when I see it. And it is a great film about hope and surmounting insurmountable odds. Truly a film for our times. And it is real!