As we can see, employment is only slightly worse than many of the spikes in the 90s; the other numbers are also marginally worse but not indicative of a "new paradigm" in the macro picture.
What is interesting though is that consumer sentiment has been at or below the 50 level for the past 27 years. One would assume eventually that consumer confidence has to rebound; this is somewhat related with our previous articles on the Japanese consumer. As we've covered the various factors associated with the recovery of Japanese demand, we won't rehash but it is worth reiterating that it could be a critical factor in picking up the slack from the increased savings rate in the US. Stay tuned...Sphere: Related Content Print this post