Jim’s Big Picture: Are The L.E.I.’s lying? Uncertainty of Fiscal Cliff Leading to Dichotomies

In the first of the Big Picture segments this week, "Are the LEI’s lying?", Jim looks at conflicting data as most of the ISM and Fed surveys have turned up, but the employment trends are heading down. Because of wide-spread uncertainty caused by the unresolved "fiscal cliff" issues, the indicators show growth in the 4th quarter picking up, but not employment. In the next Big Picture topic on oil prices, Jim discusses why we are paying more at the pump, even if the price per barrel hasn’t changed much in the last few years. Jim sees that the US is now getting oil from more expensive sources, shale oil and deep offshore wells, and the cost to produce this gas has risen as producers struggle to keep up with global demand. Lastly, Jim answers your Q-Calls in this segment.