The Wall Street Journal took note of the decline in retail sales reported by the US Census Bureau last week, headlining: U.S. Retail Sales Fall for Second Straight Month. The Journal blamed drops in spending at gas stations and auto dealerships. Their lead paragraph was emblematic of the stupidity and misleading nature of Wall Street and economic conventional wisdom...
Wall Street, Retail Sales, and Consumer Surveys, The Dogs Are Chasing Their "Tales"
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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.