Another indicator turning south, and this is a big one, as it’s the source of most consumer income:

Familiar pattern?

As if rate cuts would help output, employment, or earnings, all of which are decelerating:

Dow rises 100 points and heads for record close amid expectations for the Fed to lower rates

He’s the dummy, of course, along with the all the others, including all of the Presidential contenders, who don’t understand that imports are real economic benefits, and exports are real economic costs, and that unemployment and weak demand are unspent income stories, etc. etc. So with that kind of consensus there’s no telling what might happen…