With fiscal drag (not stimulus) in 2013, and no new monetary magic planned, the economic growth forecast by many over the next 12-24 months is dependent on a hand off to the real economy. But without wage growth to support greater consumer spending, and without increased consumer demand to support business investment, the next runner to grab the economic baton is not evident.
CNBC’s Rick Santelli reports the latest retail numbers were near expectations, while the import-export data was a little light. Here is a direct video link.
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