I just returned from almost two weeks in the north woods of Wisconsin, where internet access is virtually nil. So I have a lot of catching up to do. Thanks to all for all of the very thoughtful comments, which I will reply to in the next couple of days. Also, I found a couple of comments that were “pending.” Please be aware that if you provide more than a couple of links in your comment, it gets bounced into a “pending” category, which prevents it from actually appearing until I’ve had a chance to review it. It’s a spam-prevention feature. (I do get plenty of spam.)
There’s lots to catch up on, including the ridiculous July unemployment report, the latest release of trade figures from this past week, and the retail and consumer sentiment data that gave all of those celebrating the end of the recession a little dose of reality.