The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.

  • -- Mark Skousen 马克·史库森

事实上,商业和投资支出才是经济和股市的真正领先指标。如果你想知道股市的走向,那就忘掉消费者支出和零售数据吧。看看企业支出、物价通胀、利率和生产率的提高。

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Businesses that have gone through an episode of hyperinflation become understandably alert to the threat of it: at the first hint of inflation, they're likely to increase prices, since they've learned that if they don't, and inflation hits, their businesses will be wrecked.

经历过恶性通胀的企业对通胀的威胁变得警觉,这是可以理解的:一有通胀迹象,它们就可能提高价格,因为它们明白,如果不这样做,一旦通胀来袭,它们的企业就会破产。

Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.

消费是一切生产的唯一目的和目的;只有在促进消费者利益的必要时,生产者的利益才应当得到注意。

And the consumer doesn't care. They don't watch networks, they watch TV shows.

消费者并不在意。他们不看网络,他们看电视节目。

Steel prices cause inflation like wet sidewalks cause rain.

钢铁价格引发通胀,就像潮湿的人行道引发降雨一样。