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have u guys read this :::::
Here's the JP Morgan funds cut on what's happening:
• SEC set circuit breakers for S&P500 stocks.
• GM recalled 1.5 million vehicles worldwide.
• Hungarian leaders downplayed default comments.
• Modest signs of improvement in Beige Book.
• Weak export growth widened the deficit.
• Retail sales contracted 1.2% in May.
• The inventory rebuild continued in April.
• Next week consumer and producer prices released.
• 6/17: LEI, Philly Fed survey, current account.
Thought of the Week
A popular sentiment among the "double-dip" camp has
been that consumer deleveraging will restrict the ability
of consumption to drive economic growth. While it's still
early in the recovery, this week's chart looks at the
interesting dynamic between consumption growth and
consumer credit; despite a negative retail sales report
last Friday, consumer spending remains on track to
grow at a rate of about 3% in 2Q. However, this has
happened in the face of the most significant contraction
in consumer credit since the 1930's, as credit has
contracted some $143 billion since July 2008. Job
growth will play an important role going forward, and
we'll be watching to see if the American consumer can
continue to spend despite credit conditions.
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