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Traders got the good (or, at least, not completely terrible) jobs and retail numbers they’ve been craving, as data came in more or less in line with expectations.So why am I inclined to bet against the consumer or, to put a finer point on it, the consumer’s discretionary spending? After all that’d seem counterintuitive right now…But here’s the thing… between the lines of this data, we’ve got rising weekly jobless claims and record-high consumer debt.Moreover, that “strong and rising retail spending” is mostly spending on consumer staples. And a huge chunk of that spending is on credit cards.Here’s what I suggest we do about it…Video Length: 00:16:30More By This Author:
Good News Is Good News Again… But It’s Not Good Enough
