Like Vito, I scratch my head at the market’s math. 80% of our economy, and a hefty portion of the world’s economy is driven by the American consumer.
Has anyone noticed? They ran out of money.
Growth in our economy in the last decade has been fueled by borrowing. Please note – no equity in houses, credit cards maxed, wages stagnent on a good day.
I think first quarter earnings have reflected that. But the market doesn’t seem to notice.
CNNMoney.com Comment Policy: CNNMoney.com encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNNMoney.com may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNNMoney.com the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNNMoney.com Privacy Statement.
Features
-
Rich nations want others to cut greenhouse gases. Who pollutes the most? More -
Many businesses were laid to rest in '09. 8 familiar names now gone. More -
The Becerras spoiled themselves with a puppy. Here's what 6 other readers are indulging on. More -
Consumers looking to buy electronics for holiday gifts won't have to break the bank this season. More
For those who are scratching their heads, here’s my view on it.
If you are a European investor, with lots of Euros, or an oil rich country,
that is raking in dollars by the billions, where would be a better place to invest your money other than the very safe US market?