The lies and misinformation being spewed by the MSM and politicians is at such an extreme level now – IT BURNS!!!
Retail sales in October FELL versus the prior month. This only happens in recessions. The bullshit excuses about Hurricane Sandy are being used, even though the storm resulted in a surge of purchases before the storm. Not only did retail sales decline versus the prior month, they were weak compared to last year. Here is a link to the actual report.
Now I’ll give my assessment, which you will not hear from CNBC or any of the other captured corporate media:
- Retail sales declined by $1.3 billion versus September, but you’ll be thrilled to know that you spent $700 million more for gasoline and $300 million more at the grocery store. But don’t worry. Ben says inflation is well contained.
- Even thought the government is subsidizing auto sales through Ally Financial and their Wall Street co-conspirators, auto sales fell by $1.1 billion. I guess everyone in West Philly got a car.
- Discretionary spending on furniture and electronics fell. With a savings rate back down to 3.7%, there is no discretion left.
- If there is really a housing recovery, how could garden centers and building materials retailers have a $500 million DECLINE in sales?
- Things are so bad that Obese Americans actually ate $200 million less at restaurants in October – See McDonalds.
- The implementation of sales tax on all Amazon purchases in the country is having its desired affect. Online sales declined by $700 million.
Even worse than the one month decline was the 3.8% increase over last October. When you realize that real inflation is running above 5%, you see that real retail sales are declining.
- Retail sales are only up $15 billion over tlast October.
- Auto sales, through 0% financing to subprime losers and GM channel stuffing, are up $3.5 billion.
- Gasoline sales are up $3.4 billion, or 23% of the total increase. Yippee!!!
- Food store sales are up $2 billion. Senior citizens buying cat food to eat for dinner account for the majority of the increase.
- Clothing sales were up $1 billion as prices rose.
Yes Virginia, we are in a recession. The facts are conclusive. The MSM will continue to spin. So it goes.