Archive for January 2019

There have been 21 government shutdowns including this one. The first was in 1976 under President Ford. President Carter endured five shutdowns, while President Reagan experienced eight. There was one during President H.W. Bush’s term, and two during Clinton’s time in office, including the longest shutdown, 21 days in 1995. President Obama suffered one 16-day…

Consumer spending increased 0.4% in November, the ninth straight monthly rise. From 11/1/18-12/24/18 sales rose 5.1% Y-o-Y. Wages are up 3%/year, the fastest pace in over a decade. Moreover, capital expenditures by firms, while not growing, are not meaningfully declining. Lastly, government spending, despite the shutdown, will remain a positive force. Unless market turmoil causes…