Friday, November 05, 2004
The dollar is close to setting record lows against the Canadian dollar and the euro. The ever important Index of Leading Economic Indicators is down for the fifth month in a row Consumer confidence is down, third month in a row. Manufacturing output down two months in a row, Toy manufacturers are warning that Christmas orders are down, that profits will be down from last year. Dept. stores are ordering much less stock than last year, warning of reduced profits. Reminds me of another term from the Reagan years....STAGFLATION!
check out excellent article on the dollars fall: http://www.talkingpointsmemo.com/archives/week_2004_10_31.php#003942