The Bill Comes Due
The growth scare fades, peak reopening inflation, taxes, still negative China
Note: I will be in NYC this Wednesday the 22nd and Thursday the 23rd
The Transitory Growth Scare
Thursday’s blowout August retail sales report was supportive of our view that strong cash flow in the household sector implied considerably stronger trend consumption growth than the early ‘10s and an over-hyped growth scare. This strength in cash flow is due …