Posted on 08/15/2019 7:21:06 AM PDT by DoodleDawg
U.S. consumers spent more in July than economists expected, the federal government said on Thursday, as retail sales rose 0.7% vs. the 0.3% estimated. Excluding automobile sales, a more volatile component, retail sales rose 1% — double what economists anticipated.
Why it matters: Consumers were largely unfazed by the increasing economic uncertainty in July, defying other indicators that point to a global slowdown or recession. The data also comes as Walmart, one of the world’s biggest retailers, posted strong financials for its most recent quarter.
That rate inversion crap yesterday was a TOTAL JOKE and I pointed it out then.
We get recessions due to either external influences (like the Arab Oil Embargo), or because government goes on a REGULATION FREE-FOR-ALL and forces businesses to spend all their capital in COMPLIANCE with the new laws (such as having to pay big bucks to re-design and then re-stripe their parking lots to comply with wheelchairs, or adding air bags to cars)...rather than spending that same money to develop new goods and improve processes (i.e., cut costs) in producing existing goods.
The idea that one interest-rate index tweaking less than 0.01% (not a typo) means the difference between strong growth and a dreaded recession is INSANE - but that’s who runs things, these days.
What if they gave a recession and nobody came?
Obviously the Media got their marching orders to start talking down the economy.
FOAD Domestic Enemies, and your god the Fraud and the horse he rode in on too!!!!
Damn communists Democrats are the cause of this using there handy work to blame Trump. They will crash anything to get their power back.
They were SO hoping to hurt America.
And if a Democrat president (Obama, as an example) were presiding over a weak economy, “these same people” would call it a boom, whilst talking up the First Lady’s elegance and beauty.
Democrats & their colluding media lag dogs are attempting to “talk” the economy into a recession.
These people are stupid. People know what they are doing.
Who would a recession hurt? The voters! Who would be blamed? Democrats!
Indeed they miss the Obama economy they want another loser,the media can’t stand it that Trump fixed the mess Obama&Co made.
The stooges they are pimping for president shows just how smart the media is.
Gonna have to talk it down harder, MSM/Dems/NeverBlumpers
And if a Democrat president (Obama, as an example) were presiding over a weak economy, “these same people” would call it a boom, whilst talking up the First Lady’s elegance and beauty.
**************
Obama also got help from the Federal Reserve which kept interest rates extremely low for him. There was but one token rate hike during his administration.
I personally wish I was wrong. If I am right this dynamic means that there is nothing to prevent them from funding a socialist welfare state for many years into the future.
Such schemes always fail, but we won’t live long enough to see the end date.
Lots of vacations, home buying and back to school purchases are done in July and August. Things will slow down in Sept and Oct but pick back up in Nov and Dec due to the holidays. The economy will drop when people get their January credit card bills. It’ll perk up a bit for Valentine’s day but not much. Stagnant in March and April. May will be summer vacation time again. Same thing every year.
I live in the Beltway area, they are way out of whack here.
Leftists and Crony Capitalists hardest hit.
Now that the MSM is all focusd on the “recession” it’d be a great time for Trump to get asymmetrical on them and announce cancelling all EPA and federal regulations restricting fossil fuels and a creation of a federal tax incentive for coal fired power plants.
Let the MSM and Leftists attack reducing the cost of energy in their “recession”.
He could name the EO “Energy is the Life Blood of Economic Growth”
Retail sales are strong but industrial prodcution in the manfacturing sector declined quarter over quarter in 1Q19 and 2Q19 and is down further in July, suggesting a manufacturing recession similar to 2015. It would appear that a lot of consumer goods must be coming in through our ports despite the tariffs.
I didn’t see any word of this on Drudge or Yahoo News.
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