Posted on 12/11/2014 10:43:37 AM PST by Nachum
It's a holiday miracle: give the worst creditors access to cheap money for longer-and-longer terms and hey presto, 'expensive' stuff is available to everyone. Retail sales modestly beat expectations in November (+0.7% vs +0.6% expectations) despite the NRF previously reporting the worst extended Thanksgiving shopping weekend since Lehman which surely got lost in the Arima-X-12 seasonal adjustments - sending USDJPY spiking to confirm what great news this is. What was the great news? A 0.1% beat of the key ex-autos and gas category, which increased 0.6% in November, vs Expectations of 0.5%, and a decline from the upward revised 0.7% in October.
The other prints:
Retail sales: 0.7%, Exp. 0.4%, Last 0.5% Retail sales ex auto 0.5%, exp. 0.1%, last 0.4% Retail Sales ex autos and gas 0.6%, exp. 0.5%, last 0.5%
The driver of all this exuberance: Vehicle sales which surged once again +1.7% MoM courtesy of an overabundance of subprime loans. Oddly, for all those prognosticators looking for windfall tax cuts from the oil price plunge, gasoline station sales dropped only 0.8% MoM, well less than expectations and not exactly the consumption-boosting exuberance every talking head proclaims. These numbers appear to be clearly in the "Fed wants to hike" narrative.
(Excerpt) Read more at zerohedge.com ...
Gosh... where have I seen this before?
The list, Ping
Let me know if you would like to be on or off the ping list
No money down
0% APR for 60 months
$2,000 cash back from factory.
THIS is why cars are selling.
Yah, seems I remember Yogi saying something about this a few years ago?
Here’s Why You Can’t Buy a Luxury SUV Without A Background Check
http://jalopnik.com/here-s-why-you-can-t-buy-a-luxury-suv-without-a-backgro-1666860222
....what could possibly go wrong with this.......?
I don't mean to start an argument with anybody, but:
I (and many other Americans) put off buying a car for as long as I possibly could. My 1990 model daily driver suffered a blown engine in September. It took me 2 months to find a suitable used car to replace it (I have backup vehicles available-some people don't).
I came really close to giving up on the search for a decent used car. I almost bought a new Honda. I think we are at the point that many people have no choice other than buying a new car.
Yes, this is a real factor. People put off buying a needed car for years.
“Yes, this is a real factor. People put off buying a needed car for years.”
Truck fleets are the oldest they have been in decades.
Pickup sales have been astronomical, as you can only put off buying a work truck for so long.
Correct
Purchased a 2012 with 10,000 miles on it in late October.
I wasn’t going to pay an extra 12-15k for a new one.
There goes my hope of buying a cheap 3/4 ton pickup in the last day of the year...
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