(1) Wages and salaries continue to drive retail sales higher. (2) GDPNow raises Q2 real consumer spending from 3.0% to 3.7%. (3) No stagnation for US consumers: Real retail sales per household up 62% over past 20 years. (4) Consumer sentiment rebounding. (5) Charging to charge it! (6) Government with benefits. (7) Follow the money: Federal government’s biggest job is income redistribution. (8) Great Society getting greater. (9) Private plus public sources of purchasing power packing a wallop. (10) Steve Wynn’s next career.
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