The Recovery Is Still Anomalous By Vincent Farrell Jr. About this article: As our president stays in the role of cheerleader and, as Financial Times columnist Clive Crook said recently, willing the end to problems but not the means, just how confident dare we be? Income was reported up 1.4% last week, but most of that came from one-time government transfer payments. Excluding the government largess, the monthly reading would have been a gain of 0.2%. Real wages (adjusted for inflation) were actually off 0.1%, which was the ninth monthly decline in a row. Durable goods orders for May were up 1.8% vs. April. But shipments of durable goods were off 2.1%, which was the 10th month in a row of declining shipments. California housing prices were up last month for the third monthly gain in a row and the median home price rose 4.2% to $267,570. Inventories of homes for sale in the state fell to 4.2... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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