The mainstream media dutifully reported the Census Bureau's May retail sales release last week. "Boo hoo," they cried, "Sales fell 0.3% in May!" This, when everybody (economists' consensus view) expected a 0.1% gain. Of course, these are nominal figures, so even a 0.1% gain would have been terrible, with CPI averaging nearly +0.2% per month.
Retail Sales Weren't Bad- Here's Why You Should Beware of Good News
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.