On continued recovery in the US

More and more the economic data coming out of the US seems to support continued recovery. The housing data certainly does. Consumer credit is increasing. And the Fed Flow of Funds data shows household balance sheets significantly repaired. Moreover, jobless claims continue to trend down. The missing link now is wage growth, which could well be on the horizon.

First, we have received pretty good confirmation that the US is unlikely to have a shutdown in the news that the House of Representativ...

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