US reliance on debt is growing. Having already just about used up the conventional monetary tool and a massive balance sheet, the Fed is looking for new tools – a la Japan. Stocks’ reaction function to Japanification is key. At … Continued
Last Thursday, Jamie Dimon, JPMorgan Chase (JPM) CEO, grabbed the headlines when he said someone was going to get hurt in the auto-loan lending market. “Auto is clearly a little stretched, in my opinion.” JPM does not do much of … Continued
U.S. retail sales disappoint again – has not grown four out of last five months Not much correlation between gasoline price and personal consumption expenditures RTH, which had diverged from weakening retail sales, has been weakening past seven weeks U.S. … Continued
Tremendous growth in student and auto loans (non-revolving) over the years First back-to-back drop in revolving consumer credit in February since June-July 12 Consumers holding back, even as they are saving more – not enough juice for U.S. economy The … Continued