"April Retail Sales Barely Budged: Spending Pulse"
"April Retail Sales Barely Budged: Spending Pulse," see http://www.nytimes.com/reuters/business/business-usa-economy-spending.html.
A few snippets from the article:
""In general, consumers are spending less. Without gasoline, they are spending a lot less," said Kamalesh Rao, director of economic research at MasterCard Advisors.
Retail sales excluding cars and gasoline fell 0.7 percent in April versus March."
This is a very deflationary environment. Auto sales were probably "strong" due to incentives and attractive financing. The "inflation is everywhere" crowd is talking about commodity inflation, which is deflationary to consumer spending, which is a huge part of the economy. Some of the gold pimps are desperate, because their house of cards is coming down hard. Amen!
.......http://www.JoeFROCKS.com/ .
NEM XAU HUI
A few snippets from the article:
""In general, consumers are spending less. Without gasoline, they are spending a lot less," said Kamalesh Rao, director of economic research at MasterCard Advisors.
Retail sales excluding cars and gasoline fell 0.7 percent in April versus March."
This is a very deflationary environment. Auto sales were probably "strong" due to incentives and attractive financing. The "inflation is everywhere" crowd is talking about commodity inflation, which is deflationary to consumer spending, which is a huge part of the economy. Some of the gold pimps are desperate, because their house of cards is coming down hard. Amen!
.......http://www.JoeFROCKS.com/ .
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
10:17 PM
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