Biotech Values

[bladerunner1717]

The consumer went on a buying spree in the 4th quarter. There is no doubt about that. But that buying spree was partially the result of the decline in personal savings from 5.9% to 5.4%. Real wages have declined in three of the last four months. If unemployment stays high and real wages continue to decline and home prices continue to deflate (They are deflating at a 10% annual rate.), there's no way that this kind of growth can be sustained.

When Uncle Ben's largesse and the wealth effect from the stock market taper off, we'll see if this growth rate is sustainable.


Bladerunner