Back in the days of my youth, carnivals and amusement parks were big. Amusement parks are still big today (even bigger), but do carnivals still travel around, stopping here and there to amuse the citizens of some town somewhere? I wonder … In any case, I remember this one ride called the “Tea Cup.” No, now that I think about it the name might have been “The Mad Hatter Ride.” No matter, I guess, the point is not the name of the ride; it is the movement, and that movement strikes a strong resemblance to what is happening in our global economy today – up and down and spin all around.
Up
Eurozone retail sales rose by 0.5 percent in October compared to the previous month, when they fell, the EU’s data agency said Friday. Compared to one year earlier, the eurozone retail sales index was up by 1.8 percent — the same figure for the 27-nation European Union as a whole.
Down
The unemployment rate [U.S] in November jumped to 9.8 percent, a troubling sign for an economy many thought was strengthening. Economists had expected 140,000 new jobs last month with the jobless rate holding steady.
Up
But recent data, including retail sales and other labor reports, have raised optimism the recovery is accelerating after hitting a soft patch in the summer.
Down
A number of emerging market policymakers have complained that the Fed’s easy money policy makes life more difficult for them, as investors pile into higher-yielding markets, pushing up asset prices and currencies.
Spin All Around
Disparities in the global economy were evident on Friday with weak jobs data underscoring the long road to recovery in the United States while China and Brazil took steps to contain rapid growth.
During the ride, fear and excitement collided, but, of the two, excitement won out because you knew when the ride was over, you would step out of the cup alive and well, although just a bit woozy. I think “The Mad Hatter Ride” is the name that works, at least for me.
Trade in the day; invest in your life
