Durable Goods Sales Up in December

Durable goods sales were up 5.2% in December, the biggest increase since last July according to the Commerce Department. The figure for November was 2.6%. 

From Bloomberg.com, "`This report is a relief,” said Ian Morris, chief U.S.
economist at HSBC Securities USA Inc. in New York. `The fear
was that capital spending could collapse, which could then see
jobs plunge.’" 

Contrast that with this opening sentence in an article in today’s St. Louis Post Dispatch
"This may be the
week when the nation finds out how bad a state the economy truly is in."   
The article was accompanied by a graphic showing a giant downward sloping red arrow.

Call me silly, but after ML King Day free fall in stocks in the rest of the world, and the Fed’s quick action to prevent the same from happening here at home, I’m even more convinced that we have little to fear.

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