>[Synopsis: lots of military and continued consumer
>spending are putting fuel in the tank. I wonder, why
>are consumers still buying as if incomes were secure?]
1) About 94% of the labor force is employed, and real wage growth is modestly positive. 2) Cashout mortgage refinancing has been injecting $160 billion a year into personal checking accounts. 3) Americans are optimistic people, and they like to express that optimism by buying durable goods.
Doug