Retail Sales

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You Need To See How The 1% Spends Wildly While Wall Street Suppresses Retail Sales Reports

Retail Sales Rise As The 1% Spends Its Stock Market Gains - Click to enlarge

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 an idea of what to fade. Most of the time any widely reported and widely accepted economic “fact” is almost certain to be wrong. Wizened traders have learned to do the…

Retail Sales Weren’t Soft

Real Retail Sales Ex Gas- Click to enlarge

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 stock market soared as trading algos surmised that this meant that the Fed won’t raise rates anytime soon. There’s just one problem. As so often is the case, the…

Here’s Why Strong Retail Sales Per Capita Ex Gas Chirps Like A Canary

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. Nominal retail sales, not seasonally adjusted and not adjusted for inflation (or deflation), rose by $54.9 billion in March from February. March is always an up month. This month was better than…

Financial News Media Reporting On Retail Sales So Bad, It’s Laughable

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 does not matter that these releases also prominently report the ACTUAL, not seasonally adjusted data. The journos ignore it. Why? Because all their little journo friends ignore it. God forbid…

Video – Evidence Shows Media Reports of Credit Card Spending Growth Are Overhyped and Wrong

Credit Card Loans At Commercial Banks - Click to enlarge

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 more current data and it clearly shows that these reports are another case of hysterical media over reaction. The Fed’s weekly H8 statement reports the aggregate balance sheet of the…