1850 On a Roll

The economy continues to improve. Lately there was the unemployment report. It unexpectedly dipped below 8% for the first time since the depression sunk in. Not long after that another unexpected report. Consumer confidence is at its highest level in five years.
All of this, even though Brit Hume of Fox News characterized Joe Biden in the Vice-Presidential debate as coming across like a cranky old man. Really? Brit Hume calling someone else a cranky old man? I guess it takes one to know one. And he's crankier than ever with the upturn of the economy. Because he was surprised too.
Funny how with all the expert prognosticators out there, and speed-trading Wall Street analysts and such, we still get unexpected reports about such seemingly basic things.
What is a real leading indicator we can trust to find out these things? I may have a clue. Bloomberg News who reported on the Reuters/University of Michigan study that showed consumer confidence rising to 83.1, the highest level since September 2007, also dug deeper and interviewed a few important people. Like the head of Winnebago.
Yes, that Winnebago. The giant, luxury, $4.17 a gallon gas-guzzling hotel-on-wheels America invests in so they don't have to use strange toilets. “We are very encouraged by the positive signs we see in the general economy,” said Randy Potts, CEO of Winnebago Industries Inc. “Past experience has shown that motor-home sales closely correlate to both consumer confidence and new single-family housing starts, both of which are now showing real signs of improvement.” Improvement is right. Winnebago company earnings rose 24.5% over last year's fiscal fourth quarter.
So there you have it. As goes Winnebago so goes the economy.
Winnebago must be a Native American word that means, "Giant Rolling Kitchens come with a chicken in every pot."
America, ya gotta love it.