Friday, November 23, 2007

Things for which Ed Yardeni is most thankful

Me too:
(1) The S&P 500 is up 53% since Thanksgiving 2002. The current bull market has been the third best since 1960.

(3) The core CPI inflation rate in the US has been remarkably steady around 2%, and down from 2.6% to 1.8% on average among the 30 members of the OECD, despite the soaring price of crude oil, which is up from $27 a barrel to $99 a barrel since Thanksgiving 2002, based on West Texas Intermediate price.

(4) Notwithstanding all the nonsense about outsourcing, the unemployment rate was down to 4.7% in October vs. 5.7% five years ago as payroll employment rose 8.1 million to a record high of 138.4 million.

(5) Real disposable personal income was at a record high in September, up 16.0% since September 2002. Real per capita income is also at a record high and up 2.1% per year, on average, over the past five years.

(6) Real GDP is up 15.3% over the past five years.

(7) In the US, since the end of 2002, household net worth is up nearly 50% to a record $57.9 trillion.

(9) Alan Greenspan’s book tour is over.

That last one got an "Amen!" from me.

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