Markets & Economy

Our economy is the cleanest dirty shirt in the laundry basket

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

More soggy data have confirmed the poor jobs report for March, and so we've held on to the interest rate improvement set last week. However, some good news is on the way -- legitimate good news, the kind that tends to hold rates down. The National Federation of Independent Business' survey of small business fell in March, breaking a three-month uptrend. But overall it was the same, going-nowhere pattern since 2009. Big business thrives in global trade, but small fry are undercut by the same trade, especially wages. Today's word of flat retail sales in March, down 0.4 percent excluding automobiles, had even the stock market drunks closing the bar for a while this morning. The good news is in two odd pieces, first the U.S. budget and debt projections. President Obama has at last delivered a budget. The miracle is not so much the mouse birthing an elephant as how little there is to argue about. In 2023 the President would spend $5.66 trillion versus revenue of $5.22, and the R...