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Ultimately, the price of beer, doughnuts and crimson meat is what matters most- at least to a few of us, albeit a dying breed. To the Homer Simpsons of the world, I bring good tidings of fantastic joy. Safeway is selling a dozen doughnuts this 7 days for $3.ninety nine. SaveMart has N.Y. steaks on sale for $2.97 lb., and the pride of Belgium- Budweiser- can be experienced just about anywhere for 2007 costs. Meanwhile, the wholesale cost of sugar, wheat, corn, espresso- you title it- is at multi-yr highs. Why, then, is the U.S. consumer getting off so cheap?
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The modest movements Friday could merely be that investors are "a small bit exhausted," said Paul Zemsky, head of asset allocation at ING Investment Management. "The fundamentals would indicate we should be greater." Shares have been on a steady climb for nearly two months. A pause, particularly subsequent powerful earnings the past couple of times, "is completely natural and perhaps even anticipated," Zemsky stated.
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