Wall Street, Retail Sales, and Consumer Surveys, The Dogs Are Chasing Their "Tales"

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...

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