In The Things Are {Still} Getting Better Department

A pick-up in tax receipts can only mean one thing that more people are working and making more money.  This is also being reflected in consumer confidence numbers.  The Consumer Confidence Index rose in July to 121.1 vs. expectations of a drop to around 116.  The Conference Board that tracks these things announced that shoppers were more upbeat than anticipated and also said jobs were "plentiful' and less hard to get.

Folks, both of these indicators are saying things are pretty good right now.  Of course nothing is perfect as income doesn't seem to be rising as fast as economists would like.  However, it's pretty hard for the pessimists to argue right now that things are bad or about to take a turn for the worse, unless something unforeseen washes over the transom.

This isn't our father's economy.

Chart Link: Businessinsider.com "The Most Important Charts In the World From the Brightest Minds on Wall Street."