Following the mainstream media reports on economic data is a waste of time for investors. It may have some value to traders, because the headlines give them…
Headline writers were falling all over themselves yesterday to get the news out that retail sales were weaker than the Street conomist crowd consensus guess.…
The headline seasonally adjusted retail sales number slightly missed conomists’ expectations this morning, but beneath the headlines, the actual hard data tells a different story.…
The stock market is rallying today because investors think that weak retail sales mean that the Fed won’t raise interest rates any time soon. But…
Here we go again. The mainstream media is grossly misreporting another factoid in the daily sideshow of economic reports that ultimately have nothing to do…
Markets top out when the news is good. Good news gives central banks the excuse they need to pull the punchbowl. In that respect, yesterday’s “bad…
I keep complaining to mainstream journos about their slavish devotion to the seasonally adjusted fictitious numbers put out in virtually all economic data releases. It…
The market sold off today ostensibly because of the lousy retail sales headline number, or at least so the media said. The headline seasonally adjusted…
Actual, not seasonally adjusted data from the Commerce Department showed a 5.6% drop in June retail sales versus May. It was the worst June performance…
Consumer revolving credit has been in the news recently as the Fed’s data on consumer credit for April reportedly showed a record surge. However, we have…