Sunday, May 03, 2009
Factoid of the Day: A spurt in consumer spending
There are three areas where consumer spending has increased. Guns. Condoms. And alcohol. —Diane Swonk, chief economist at Mesirow Financial, as quoted by Joe Nocera in "Same Data, Conflicting Forecasts"
These must be the "green shoots" that Federal Reserve Chairman Paul Bernanke and the financial press have seen sprouting in parched fields and dank doorways.