Luxury goods are flying off the shelves as revenues at Tiffany, BMW and LVMH soar, the NY Times tells us in a Page 1 story today. Turn to the business section, and we learn that American fast food companies are investing in Russia, where—as in China and India—the middle class is growing. At home, however, the diminishing middle class is hunkering down for a potential repeat of 2008. Meanwhile, despite the hit the S&P has taken over the past week, corporate earnings are the highest they've been in four years, fueled by growth in overseas markets.
Is there a better argument for supporting our tax-paying, job-creating locally-owned businesses?