Posted on 06/13/2012 6:12:18 AM PDT by Perdogg
Retail sales fell for a second straight month in May as demand for building materials tumbled and declining gasoline prices weighed down on receipts at service stations, a government report showed on Wednesday.
(Excerpt) Read more at reuters.com ...
retail shrinking this time of year when the weather gets good, people are traveling, out of school, etc, is a really bad sign.
Bunch of racists not buying thingamajigs, that’s all.
Why shop? The government takes your money and does it for you. ;-)
In past years I’ve mentioned here at FR that I usually find the trucking industry, and bookings for freight a great indicator of how the economy is.
Freight bookings have been down considerably last month to current across the Nation. Unusual for this time of year.
Freight ain’t movin’, ‘cause nobody is buyin’, ‘cause nobody has the bucks, or are hangin’ on to what they have until they see a more secure future for themselves, and theirs.
“Retail sales slipped 0.2 percent, the Commerce Department said, after easing by the same margin in April. Sales in April had previously been reported to have edged up 0.1 percent.”
So April’s sales had to be revised from positive to negative? Typical for economic news from Obama. May’s sales must have been really bad if they’re reporting a decline in the initial figures. The revised figures next month will no doubt show a much larger decline than they’re admitting today.
Not surprised at the auto sales. Roads in Memphis covered over with new cars!
I am starting year ten with my Honda Pilot
This is Great Depression II, and has been since the TARP bailout was authorized in 2008.
But could we possibly call Dubya the instigator? Like Herbert Hoover in 1932, he was faced with overwhelming Democrat majorities stacked against him in the last two years of his term.
Translation: The CAUSE of the first Great Depression were all the “fixes” that were put place by the Democrat House and Senate. Not because they addressed the root causes of the problems, but because those “fixes” were supposed to make things “fair”. FDR came along and made these “fixes” into a permanent part and signature achievement of his administration.
“Fairness” is a vastly overrated concept, and probably impossible to determine, let alone put into play. The term has certainly been most poorly defined.
Guess it’s time for another Cash for Clunkers. Obama is such a jackass.
Do they separate out sales of guns and Bibles?
—Guess it’s time for another Cash for Clunkers. Obama is such a jackass.—
My 2001 Chrysler 300m (which we very much loved since we bought it new) was creamed along the entire driver side by a ninja deer a few months ago, the AC went out this month, and the check engine light just came on yesterday (code 700 - transmission problem). It’s got 165,000 miles on it. I’d LOVE cash for clunkers to come back.
Sure, it’s a bit narcissistic. ;-)
I grew up with GM auto’s. I now drive a Honda CRV.
Don’t these RETAIL SALES figures include food purchases? aka Food Stamp activity?
I want to see TRUE figures on NON-FOOD retail sales and then we really get the picture.
“The private sector is fine.”
This can’t be true. A noted economic genuis recently informed us that the “public sector is doing just fine”.
This story must therefore be rrraaaaccciiisssstttt!!!!
Don't forget vodka & anti-depressants
so....declining gas prices resulted in smaller receipts at gas stations, driving down retail sales numbers?
Talk about your pretzel logic!
I really like my Scion XB but I just bought an 8 year old Chevy Silverado 4wd because, frankly, we need it on the farm and it was really cheap because it is a rebuild. But it’s sound and is several years out from the rebuild (and looks and drives almost like brand new).
Rebuilds are huge here. Anything “used” is big here.
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