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Inflation expectations are jointly falling?

…dominant factor dragging US inflation expectations. However, inflation expectations are falling globally. The chart above illustrates the 10-yr break-even expected inflation rates for the UK, Germany, Canada, Italy, and the…

Consumer confidence: fluff or thrill

…employment, income, and spending. However, for those indicators that are critical to recovery, i.e., consumer spending (housing and inventories are important, too – see the second chart on this post),…

Housing Bubble, Revisited

…of the decrease. Without their income numbers, it’s impossible to tell exactly how large the effect would be, but I can ballpark it. Median income in 2003 was about $43,300;…