After adding 1,300 units with KC’s win over Bos yesterday, bringing the total in the vault to 2,800, we look for the Orioles to Baltimore chop the pinstripers. We’ll invest 500 units, for entertainment purposes only, in the O’s.
Can’t get off the dog sled yet. Mush, Mush!
One can hear the same exhortation emanating from the lips of business, labor and politicians – that is, just about everybody – after the release of anemic second quarter gross domestic product data and a sharp downward revision to first-quarter growth. The chances of tipping over into a double-dip recession have gone up
We have to admit we are surprised at the sluggishness. We guessed, incorrectly, that monetary and fiscal stimulus would have worked its magic and that the Federal Reserve Board would be tightening the money spigots by now to head off inflation.
But, alas, it appears the Fed has been “pushing on a string,” as businesses hoard cash and consumers refuse to spend (personal consumption increased just 0.1% on a seasonally adjusted annualized basis from the first quarter; meanwhile, inventories rose 0.18%, down sharply from the first quarter, but still ahead of consumption).
The all but certain curtailment of government spending tied to the debt ceiling bills couldn’t come at a worse time. The stock market is headed for its worst week in a year and jobs look to remain scarce.
We wonder what the Vegas odds are for another recession in the second half or in 2012? We might not want to speculate on this dog.
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