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Fed Cut? Not Now, But Soon

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Sentiment and Reality Continue to Diverge

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When Will The Fed Cut

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Sentiment Can Change…..Fast

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Construction Spending Rises to Record

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Self- Employment Collapses

Government hiring is propping up the labor market, and self-employment has collapsed to record lows. Not healthy

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Retail Cash Rises

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Data Still Murkey

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PMI Often Cries Wolf

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Construction Spending At Record Highs

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Real Private GDP Continues to Rise

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Real Personal Income Rising, But Being Spent Less

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“Sentiment” Indicators….Ignore Them

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Durable Goods Orders Holding

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Consumer Delinquencies Rising