Glimmers of Economic Hope: Board Cites Money Supply, Brooks Our Desire for Full Garages
The Conference Board of New York digested a passel of economic indicators for January and got a small uptick -- 0.4 percent -- in the financial health of the nation, despite lousy employment and other numbers. They credit a boost in the "real money supply," attributable to recent federal action. In David Brooks' world, the good news comes from a Pew study that shows Americans "still have a clear vision of the good life": they're attracted to cities, mostly Western and with spacious suburbs, which "offer the dream, so characteristic on this continent, of having it all: the machine and the garden," and are places where "you can imagine yourself with a stuffed garage -- filled with skis, kayaks, soccer equipment, hiking boots and boating equipment. These are places you can imagine yourself leading an active outdoor lifestyle." The Fed feels differently, predicting a slower economy and increasing unemployment, but aspirational analysis is not their thing.
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