Didn’t the MSM spin last week’s retail sales as unequivocally great news? The meme was “the consumer is back and ready to buy”. Checkout the facts in the chart below. Maybe the consumer ain’t so great.
Yeah. If the MSM could just tell the truth, that would be great.
Chart Of The Day: Retail Sales (ex Autos) Turn Negative For First Time Since 2009
Truth? I don’t need no stinking truth! (US Gov’t)
Close out any open stock positions.
Crap I have that same tie.
Bob.
The Global Economy Has Tanked.
The Baltic Dry Index (BDI) has averaged 618.00 since the start of the year. It now sits at 642.00 in a chopping sideways, bottom bouncing pattern.
The second most important global freight index is the China Containerized Freight Index (CCFI) for routes from Asia to North/South America and Europe, is down 41% since January.
Cass/INTTRA Ocean Freight Index tracks US containerized ocean export activity and is in a severe downtrend that started in March 2011.
The all inclusive global Commodity Tracking Index (DBC) has averaged a bottom bouncing 17.92 since the start of the year and now sits at 17.77 and trending lower.
The China Rail Freight Volume year-over-year is down 17%
Lets face it folks, the global economy is in the crapper! The only question being is – How much lower will it go?