Discretionary spending is collapsing

We keep being told that consumer spending is increasing. Maybe, but only because the dollar is falling like a rock and gasoline, food, and other necessities are more expensive now. Discretionary spending is collapsing and is at 10-year lows. The economy is NOT recovering, it is getting worse by the day.

And it's getting worse . . .

The downside from the CMI shows that things are getting worser and worser.

The market can only go down

Difficult times ahead fot the S&P 500

William K. Black interview

William K. Black does not pull punches. Interview starts at 13:00.

Recovery? Really?

Is this what Tax Cheat Timmy was talking about in his op ed on how the recovery is going just swimmingly?

Investment in malls, office buildings, and hotels continue to crater - some at 20 year lows, and some at all-time lows. I guess that's just one more reason why the stock market continues to rocket upwards. Crazy crazy.

The real GDP chart

The real GDP chart.

Small businesses not too excited about the "recovery"

Reality is very different from the spin machine in DC and the MSM. Small business are not very thrilled with the so-called recovery.