An interesting observation from Nomura from this morning’s Michigan Sentiment report:Despite the more downbeat assessment of current conditions, according to the report, “When asked specifically about expected changes in unemployment, more consumers than anytime since 1984 anticipated declines. It is the combination of more available jobs and lower joblessness that will begin to attract more discouraged workers back into the labour force.”
1984? The analogies to Reagan’s “Morning In America” keep stacking up.
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