Business spending continues to grow, as shown by the chart below. The monthly survey of Purchasing Managers at major corporations shows that, despite a slight slowdown in the last few months, purchasing activity remains well above the benchmark index of 50. Our grading system of the economy and the housing market is a "bell curve" model, with statistics at an all-time high receiving an "A," statistics near the long-term average receiving a "C," and the worst times ever receiving an "F." In this grading system, it is OK to be a "C" student. Here is our current report card: Economic Growth: C Economic growth continues to be "average." We added 150,000 jobs in August, bringing the 1-year growth to 1.7 million, or 1.3 percent. This is the strongest job growth rate in three and a half years. D...
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