U.S. consumer spending rose at ahealthy rate in August, while income growth slowed after a big jump in July. Consumer spending advanced 0.4 percent compared to July, when spending also increased by 0.4 percent, the Commerce Department said Monday. In both months, the figures reflected strong gains in purchases of durable goods such as autos. The Conference Board Consumer Confidence Index, which had declined in July, rebounded in August. The Index now stands at 101.5 (1985=100), up from 91.0 in July.
Quotable"Reflect upon your present blessings, of which every man has many-not on your past misfortunes, of which all men have some."" – Charles Dickens
Ramp/Dock Report: October 2015
The value of U.S. trade with Canada and Mexico declined 8% in July as the freight value carried by trucks also decreased, the Bureau of Transportation Statistics reported Sept. 29. Truck freight value dipped 0.6% as total trade fell to $93 billion due in part to the reduced price of mineral fuel, according to BTS.
Beijing's clumsy attempts to halt a drop in its own stock market and its confusing Aug. 11 decision to devalue its currency, the yuan, may have escalated fears. The concern is that Chinese policymakers have panicked and that the economy might be in worse shape than previously thought. We will see soon!
Lessons from the Past
Adversity is the grindstone of life. Intended to polish you up
adversity also has the ability to grind you down. The impact and ultimate result depend on what you do with the difficulties that come your way. Consider the exceptional achievements of humans experiencing adversity.
Beethoven composed his greatest works after becoming deaf. Sir Walter Raleigh wrote the History of the World during his thirteen year imprisonment. Abraham Lincoln achieved greatness by his display of wisdom and character during the national tragedy of the Civil War. Martin Luther translated the Bible while enduring punitive confinement in the Castle of Wartburg. John Bunyan wrote Pilgrim's Progress while in a Bedford jail.
The lesson is clear. Difficult challenges are opportunities for greatness. Turn yours into opportunity for success!