Warmer than normal Januarys have a penchant for producing surprisingly strong payroll numbers.

GM's numbers are surprisingly bad.

The numbers are surprisingly strong. I normally expect HP to miss Q3 and I expect Dell to beat it, so this is a big role reversal.

You don't see the symptoms, and that's one of the puzzles of the moment.

To the extent that a Phillips curve exists, it's a moveable feast.

Housing is backing off from its leadership role in the economy, but clearly something else is replacing it. The Fed has a little more to do and then they can rest on their oars.