Holiday weekend retail sales cratered not because the middle and working class is getting squeezed but because of the mere possibility of bad weather, so darned many sales, and not having to shop because times are better, say perky propagandists at the National Retail Foundation. A 11% plunge in weekend sales compared to last year is all double plus good, according to them.
So there you have it: a 11% collapse in retail spending has just been spun as super bullish for the US economy, whereby US consumers aren’t spending because the economy is simply too strong, and the only reason they don’t spend is because they will spend much more later. Or something.
From the comments:
Gas was too cheap and consumers had to much money so their wallets couldn’t fit in their pockets to go out into the polar vortex.
The stronger economy led to weaker sales.
You can keep your insurance if you like your insurance
You can keep your doctor if you like your doctor
Several years ago when I brought all the troops home from…
The sanctions are working
Racial harmony has never been as good as…
Gettin’ kinda propaganda weary, “folks”
Thx for the info. I’ll take Ritholtz’s word on this too.