miss the slight improvement...
in spending, but not in savings...
Two points should not be missed:
One, most of the increased construction is in "governmental" and/or stimulus projects...
it is NOT in private construction - not home, not office, not retail...
Two, the shift back from "saving" more, to spending more...
is NOT necessarily very good news.
We, as a nation, are still importing more gas...
still importing more goods & services...
still spending more in Govt deficits...
To fund those excesses, we will need to keep borrowing.
But, if YOU do not save and invest, who will ???
The Chinese have not only not increased their purchases of [y]our debt...
they have been selling their holding for the last three month.
As the boys asked U.S....:
"Who IS on first?"
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Index Shows Expansion of U.S. Manufacturing in April
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ISM Manufacturing Index Stronger Than Expected
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