Posted by WARREN MOSLER on July 16th, 2010
Haven’t yet hit the ‘get a job buy a car’ accelerator.
Watch for car sales to be the indicator of more rapid growth.
Meantime, muddling through with modest growth remains an ok equity environment as fear of becoming the next Greece is turning us into the next Japan.
And, of course, we continue to underestimate the deflationary effect of the Fed’s zero rate policy which should be a good thing in that it allows us to have lower taxes for a given size govt.