While I don't necessarily agree with what he says in this interview, I found it to be well worth reading.
Of particular note was the following comment, which I found provocative - if not very much so - and thought-provoking, as its implications, if the statement is true, are rather far-reaching:
"We have long understood that it is not income that matters, but consumption. A smart or cynical politician knows that if somehow the consumption of middle-class householders keeps up, if they can afford a new car every few years and the occasional exotic holiday, perhaps they will pay less attention to their stagnant monthly paychecks."
back to home
SPX at 1076.76 as this post is written
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