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Real retail sales jump nicely, but we’re not out of the woods on consumption just yet

  - by New Deal democratLet me start with my usual reminder that real retail sales is one of my favorite economic indicators, because it tells...
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Good news on real aggregate payrolls, but an additional yellow flag on jobs

  - by New Deal democratWith the update on inflation earlier this week, let’s take a look a real average wages and real aggregate payrolls....
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The Road to Incoherence: Arthur Burns and the Agony of Central Banking

UPDATE: My concluding paragraph was inadverently deleted from my post, so even if you’ve already read the post, you may want to go back...
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The case for accelerating inflation is weak

  - by New Deal democratNo economic news again today. Tomorrow we will get the CPI report for November. As to which, I have read...
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ISM manufacturing remains weak, while construction spending continues to power along

  - by New Deal democratAs usual, the month’s data begins with the ISM manufacturing index, and with a one month delay, construction spending.Because manufacturing...
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