these charts are a monthly occurrence these days…
Whenever the index of consumer confidence averages 95 or better in an election year, the incumbent wins; when it’s under 95, he loses. For example, incumbent George W. Bush won with a reading of 96; Bill Clinton, with 105. This year, the index has averaged 67, leaving virtually no chance that it can make 95 for the year as a whole.
Things not only must change, they will change. Either we will make the difficult choices or those changes will be forced by the market. And the longer we put off the difficult choices, the more painful the
Powerful, sobering letter from John Mauldin. A must-read.