From BTIG’s Dan Grenhaus…At the same time, we cannot help but once again remind clients that while things are getting better, and we agree they are getting better, there are three really important things to keep in mind. The first is that rising gas prices are going to weigh on an already income constrained consumer. Each $1 gas increases in value takes roughly $1.4 billion in real spending out of the economy. While this may not tip the U.S. over into recession, it certainly doesn’t help. Second, Operation Twist 2 is scheduled to end in June with unknown consequences. And most importantly, the fiscal contraction set to occur later this year will eventually find its way into investor’s radar screens. Of this, you can bet the farm.
Notice what’s not on here anymore?
Yep, no more Europe crisis.
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