Posted on 10/17/2019 7:35:26 PM PDT by aimhigh
Like a centrally directed disinformation campaign. Here’s what happened.
And it was everywhere. Misleading headlines about retail sales, from which reporters then extrapolated silly conclusions about the consumer while clamoring for a rate cut from the Fed.
[Media reported] “U.S. retail sales unexpectedly posted the first decline in seven months, suggesting consumers are starting to become shaky as the main pillar of economic growth and potentially bolstering the case for a third straight Federal Reserve interest-rate cut.”
The Commerce Department released its “Advance Estimates of U.S. Retail and Food Services” this morning. This is the first estimate for the month that will get revised – often substantially – in following months as more data become available. And the report said that in September compared to September last year:
>Total retail & food services (restaurants, cafes, etc.) rose 4.1%.
>Retail sales without food services rose 4.0%.
>Food services sales rose 4.9%.
>Retail sales without gasoline sales rose 4.7%.
>Retail sales without gasoline, motor vehicles & parts sales rose 4.5%.
>Sales at non-store retailers (ecommerce, vending machines, door-to-door, telemarketing, home parties such as Tupperware, etc.) rose 12.9%
(Excerpt) Read more at wolfstreet.com ...
The same "media" that two weeks later barely muttered the numbers were cooked and we were actually in a recession?
Yeah! Right! We're ready to "believe" you!
That is a great site, which distills market explanations in short order...
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