Another harbinger of prosperity, purchases of durable goods such as cars or computers, shot up by 18.2 percent in quarter three, the best spike in nine-and-a-half years. Overall consumer spending rose at a 5.8 percent annual rate, its fastest increase in five-and-a-half years. And — better sit down — business spending on heavy equipment such as trucks or turbines soared at a 24.1 percent rate, the best since the final three months of 1983.
So our little Golden Age continues. Folks are feeling prosperous — and of course if enough people think they're prosperous, that means they are. That's Economics 101. Maybe on Thanksgiving, you might consider springing for a really big bird.