Recent economic data are mixed. On one hand, the job market is doing well, bank lending is rising, and car sales are zooming. But, gasoline prices are up, real after-tax incomes are almost flat — causing consumer spending to grow a tiny inflation-adjusted 0.6% between 7/11 and 1/12 — and GDP growth is tepid. Either GDP numbers get adjusted upwards or start rising to catch up with employment growth, or new job numbers start to decline.