I like Walmart.
As an economic indicator; not as a place to shop.
(My personal opinion about Walmart is irrelevant, but as a clue to my
thinking, I will tell you that the word "evil" frequently comes to
mind.)
But really;
WALMART IS THE ULTIMATE ECONOMIC INDICATOR. Why? Well, perhaps
because of it's huge size, and it's strategic location inside the US
economy.
Indeed, I would combine Walmart and Micky D's and a couple of other
companies into a: MAIN STREET CONSUMPTION INDEX.
BECAUSE, WALMART IS WHERE ECONOMIC REALITY MEETS ECONOMIC THEORY,
EVERYDAY.
All in real time, as soon as the doors are open, (if they are ever
closed these days)!
The US economy is mostly consumer spending, and most of this spending
is in $5 and $10 increments. Small is beautiful in the American
economy.
Of course some like to follow the CAPEX of Big Corporations....that's
fine for a while, but sooner or later it all comes down to the small
consumer on Main Street. Doesn't it?
MY HUNCH IS THAT BETWEEN JOBS, HIGH DEBT, REFIS, AND HIGHER GAS
PRICES, THE CONSUMER IS VERY, VERY WORRIED NOWADAYS.
BUT, WHAT DO I KNOW!
MAYBE JUST KEEP WATCHING THE "WALMART INDICTATOR!"
And perhaps you'll get a better idea of the state of the US economy
than with all of the other high class "data points" combined!
Ya think?
Postscript: Sorry Conference Board,....you're a bit "old hat" now in
these unhappy days of hyper market manipulation by the G-Man, and the
other desperate elites!
