Consumer Spending Drops in April. Retail sales got wallopped today. The reality is Gas Prices and Housing have people cutting back. Duhhhhhhhhh!!! This is reality, not some spin about the “Weather” or “Easter Calendar” etc. The numbers will get uglier, from here on out. But, “Economists” say this is merely the low point. How convenient…
Have you noticed the price of food, energy or housing lately? Oh, but those aren’t counted in the “Core Inflation” numbers. I guess you really don’t need those things, now do you?
Let’s see,
1) Prices are high
2) Sales are down
3) Growth is slowing
That means 2 things to me:
1) INFLATION
2) RECESSION
The fed is like a deer in the headlights now. Will they sacrifice Housing for Foreign Investment? Better yet, maybe it will all just go away if we do nothing. Or maybe we can’t do anything. CHECKMATE..
Could be pre-crash behavior for housing AND stocks. By the way, where are those April housing numbers? Still waiting…
