assume that all the excitement...
in not about "The Circus"...!!!
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Or, believe that with all "The Elephants" following each other's tales...
that is not really a circle of jerks...
{oh dear, are we having too much pun...}
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Back to being somewhat serious...
these two articles, and sets of charts
are very illuminating - about "retail sales"
The 1st chart shows U.S. the "normal" media view - that everything was "up and up"
every month and every year
the 2nd chart suggests that, while we had a "little setback", we are now skyrocketing, again
the 3rd chart suggests that IF we adjust for inflation, we are slowing down, a wee bit
the 4th chart shows U.S. how much better off we would have been IF only W had not been President
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Now, the 5th chart is where it gets really disgusting.
Adjusting down, for population growth, for inflation, and for both.
What's up with that?
Didn't we get rid of all those pesky Mexi's?
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And, then Doug (selling U.S.?) Short shows U.S. where we really are.
That's enough to make you sick(er) !!!
Not only are we still down 9% below the peak before the RE collapse...
but we are still below the BOTTOM of the 2001 tech crash...
and all the way back to 1998 spending.
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It's as if all the benefits of cheap Chinese toys and stuff for Christmas were for nothing.
And, we still, now owe them, US$ 1.5 Trillion.
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And, now for something totally different...
that no only are we still in a very big hole...
we are still digging.
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JGBellHimself
12 Jan, 07:08 PM
While your first point, about consumer debt declining is valid, you either forgot to mention, or consider, where and why, or what that means.
The deleveraging by home owners by foreclosures, strategic defaults, and short sales dwarfs the paydowns on principle by debtors. The deleveraging by retail credit users by bankruptcy, cancelled credit cards and lines of credit, dwarfs the paydowns on outstanding balances.
However, with everyone of Those People their credit ratings have been impaired, if not destroyed. More important, the "equity" that the middle class once had in their homes is gone; and for too many will never come back.
To assume that they will be willing or able to go back to spending as they did is foolish, in the extreme.
Young people cannot find work, returning service people cannot find work, college grads can't find work, or pay for their student loan - and you think nothing has changed?
After 4 years of no recovery
The deleveraging by home owners by foreclosures, strategic defaults, and short sales dwarfs the paydowns on principle by debtors. The deleveraging by retail credit users by bankruptcy, cancelled credit cards and lines of credit, dwarfs the paydowns on outstanding balances.
However, with everyone of Those People their credit ratings have been impaired, if not destroyed. More important, the "equity" that the middle class once had in their homes is gone; and for too many will never come back.
To assume that they will be willing or able to go back to spending as they did is foolish, in the extreme.
Young people cannot find work, returning service people cannot find work, college grads can't find work, or pay for their student loan - and you think nothing has changed?
After 4 years of no recovery
- not jobs, not housing, and as Doug points out to U.S. not in "sales"
what part of an "L" shaped recovery do you not understand?
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Retail Sales: A Disappointing 0.1% In December
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December 2011 Advance Retail Sales Disappoints Christmas Pundits
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