Retail Sales in November Unexpectedly Slow, Well Under the Rate of Inflation
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10 comments on Retail Sales in November Unexpectedly Slow, Well Under the Rate of Inflation
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10 Comments
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2 years ago
“Economists expected sales would keep up with inflation. Instead, consumers threw in the towel.”
As Mish noted, wages aren’t keeping up with inflation. Come to think of it, towels are more expensive, too. Some consumers can’t afford to throw one in.
2 years ago
– ‘Let them use washcloths’
2 years ago
Covid pent-up demand is possibly fading–confused by holiday buying, supply bottlenecks, and inflation expectations. January sales will be the ‘kicker’, IMHO.
2 years ago
Hawkish FOMC good for $US. One story for 2022 will be its strength … causing much consternation offshore.
2 years ago
What do you think would happen to the dollar if they raise rates 3 times? Not to mention US equities?
2 years ago
“What do you think would happen to the dollar if they raise rates 3 times? Not to mention US equities?”
They’ll both benefit.
Being closer to correctly priced, as in less misprized, is always a benefit. And the free market, non manipulated, hence correct, hence what the economy now needs, interest rate in an era with as much uncertainty as now, is a lot closer to 15% than 0%.
Hence, the closer we get to 15%, the better things will be. For absolutely all things interest sensitive.
Only the truly dumb and clueless, cling to such trivially obvious idiocies as dead wrong somehow being preferred over more correct.
2 years ago
“Have the stimulus checks finally run out or are consumers suddenly balking at prices?”
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Yes.
Need to add front running holiday sales. Earlier, I noted that since Labor Day MSM banging “better buy it now or it won’t be there later” drum re gifts. Gave prop to September + October sales … at expense of November + December.
2 years ago
When rent goes up 10%, people have less money to spend on retail.
2 years ago
Try 17%
2 years ago
There see! Inflation WAS transitory…..it’s just that at the new higher price level everything costs twice as much.
But the RATE is down. Far out.