Good Economic News in Spite of Everything

Hard to believe, but retail sales are up 1% in January along with very slightly reduced jobless claims, according to this WSJ story.

While this doesn't mean that all is well, this is an indicator of Americans getting a grip on the realities of their situation and making adjustments in spending. The sky is falling reports have been overblown, and Americans are realizing this and spending slightly more.

The challenges remain, particularly in the automotive, housing and financial segments of the economy. Add the additional long-term economic stress of the "Porkulus" bill, and it remains to be seen just what the future holds.