"U.S. Retail Sales Rose 0.6%, Pointing to Confident Consumers," headlined the Wall Street Journal on Friday. It was talking about the top line seasonally adjusted version of the month to month change, including inflation. We're more interested in the actual data, not data that is statistically massaged to create an idealized version of the trend, which is what seasonally adjusted data does.
Unreal Retail Sales
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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.