Today’s Articles on Consumer Spending Part II

Another day, more news that consumers will struggle to lift the US economy

Wait Until 2017 Before Job Market Recovers, Report Says
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In a depressing new report, two Rutgers professors predict that it will take more than seven years to restore the health of the nation’s labor market to prerecession levels.

Foreclosures, Delinquencies Continue to Rise
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Lenders stepped up efforts to help strapped borrowers during the second quarter of 2009, but their actions weren’t enough to stem rising mortgage delinquencies and foreclosures, a federal banking regulator reported Wednesday.

Red Bull Crash : It’s a fine day for the pessimists.
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Very rarely does the consensus estimate miss the Purchasing Managers’ report by six points, and never in my recollection when it went from even to a pronounced negative.

Retail/Apparel Stocks Back to Pre-Crash Levels, Huh?
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With the notable exceptions of Abercrombie (ANF), J Crew (JCG),and American Eagle (AEO), it looks like some of the big names in “teen” retail have all recovered to their pre-collapse (starting with XRT/S&P500 highs in 6/2007).

Massive “Shadow Inventory” Overhang Will Keep Pressure On House Prices
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Houses prices, like everything else, are a function of supply and demand.


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