"Doug Kanter" wrote in message
...

"NOYB" wrote in message
link.net...

"Doug Kanter" wrote in message
news
"NOYB" wrote in message
link.net...

US Treasuries fall as retail sales offset CPI
Thu Jul 14, 2005 11:04 AM ET
(Adds quotes, details on interest rate outlook, technicals and TIPS
auction, updates prices)
NEW YORK, July 14 (Reuters) - U.S. Treasury debt prices fell in
volatile trading on Thursday as stronger-than-expected June retail
sales offset tamer-than-forecast data on consumer inflation, which
fueled an early rally.

"For now ... you have the perfect economic picture here -- strong
spending with low inflation." said Elisabeth Denison, an economist at
Dresdner Kleinwort Wasserstein in New York.

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Perfect economic picture indeed!

How does this relate to your president's current project (to use a
polite term for Iraq), the final duration and cost of which are 100%
unknown? You can't make a value judgement about income without holding
it in very good light next to your outgoing funds.

Falling deficit, low unemployment (25 straight months of net job
increases), low inflation, strong retail sales, more first time
homeowners than ever before. Gee, Doug, you're going to have to dig
deeper than that to try to put a negative spin on the US economy right
now.



All are meaningless relative to the Iraq project, whose final cost is
unknown. If you discussed your home budget this way with your wife, she'd
dump your cereal in your lap. "Honey, looks like household income will be
up 3% by next year". "OK, but the new pool, new boat, 2 new cars....and
Buffy didn't get that scholarship we hoped for". "Well....I have no idea
what any of those things will cost. Does it matter?"

I guess that's why we're happily married. I told her we're way over budget
already for this year, and she asked me how much we'd have left over for new
kitchen cabinets.