Watch those numbers tomorrow and especially Wednesday. I do believe Target (the retailer) is the canary in the coal mine for the middle class consumer, and that their earnings warning is bad ju-ju for the the numbers that will come tomorrow on the retailers. We'll see if I'm right. Durable goods data on Wednesday will also be critical. These datum will be determinative of whether selling in May and going away is a prudent course, IMHO. (I am not predicting a correction, or the dates thereof, etc., but am speaking in generalities regarding the health and likely performance of the U.S. equity markets in the short term based on the upcoming data) Tuesday 4/24 7:45 am 10 am 10 am 8:30 am 8:30 am 8:30 am United States Retail chain index Existing home sales Consumer confidence Wednesday 4/25 8:30 am 10 am 10:30 am 2 pm United States Durable goods orders New home sales Energy Dept. oil stocks Fed beige book
Middle class? WTF are u talking about? There is no middle class anymore. Everyone pretty much falls into 2 categories now: 1.) The upper class (has a positive liquid net worth and little if no debt). 2.) The poor (this is where people think they are in the middle class). However, considering that you don't really own your overvalued home or your SUV(s) in the driveway, and your loaded on credit card debt, I would say your a net negative on liquidating value which pretty much means your worse off than the poor.
Hmm, when I was in college, I was taught the following... below middle class lower middle class average middle class upper middle class lower upper class average upper class upper upper class Hey, what do those clowns in NYU know anyway.