The clueless trend followers who do not operate with any kind of business cycle theory will have to pull out their erasers again. The economy appears to be shifting downward again, as a result of the Federal Reserve's slow growth money policy.
The number of newly laid-off workers filing claims for unemployment benefits rose last week. AP is calling the climb unexpected.
The Commerce Department said that retail sales fell 0.1 percent last month. AP is reporting that economists had expected a gain of 0.7 percent.
The retail sales fell despite Obama's manipulation of the auto sector. Autos, helped by the start of the Cash for Clunkers program, showed a 2.4 percent jump -- the biggest in six months. But, there was widespread weakness elsewhere. Gasoline stations, department stores, electronics outlets and furniture stores all reported declines. (Outside of gasoline, note the predominately capital (long lasting) versus consumer nature of the slowed sales).
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