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Falling Gas Prices Boost October Retail Sales Despite Electronic Sales Slump
Retail Sales headlines, sliced and diced whichever you like, modestly beat expectations. Ex Autos & Gas, retail sales rose 0.6% against an expectation of a 0.4% rise as falling gas prices provided some support for sales. However, more troubling for the US economy is the 1.6% tumble in 'electronics and appliances stores' sales. This is the biggest MoM drop since Dec 2013. The big question is "are iPhones part of the 'electronics and appliances stores' category?"
Headline beast as the gains and losses continue to flip-flop...
The retail "control group" that plugs into the GDP number saw a 0.5% increase, just above the 0.4% expected, and up from an upward revised 0.0% in September.
But Electronics tumbled...
By the most MoM since Dec 2013...
Charts: Bloomberg
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I think Apple is in the 'Non-Store Retailers' since they are company sotres or 'Sporting goods' since so many use their iPoon to workout with. So I guess they're in multiple catagories.
Food Services and Drinking Places +0.9
Yep.. Drink up while you can!
But is "Non-store Retailers" crack dealers and hookers?
did people buy more stuff or just pay more for the same amount of stuff??
Aapl to be $1 trillion market cap before long
Mostly we pay more for less stuff.
Non-store=street corner and back-alley....
Wait.
Didn't Hillary say "Let them eat iPads"?
So they're genetically modified foodstuffs you can eat, no?
I can't wait for the impending successor to Chancellor Palpatine
Now the flagging electricity production/consumption data are making sense.
Well, never underestimate the great Amerikan consumer and their ability to buy things they don't need with money they don't have.
70% of our e-con-omy is based consuming. I'd bet the demand for crapitol one cards is up.
As the prize winning economic big brained genius P.Krugman sez...
We need MOAR!
The economy needs moar people to buy Smart TVs that spy on them. Krugman would approve of all the new jobs created to collect and sift through all this new data.
Drinking places are busy flappers.
maybe Apple should come out with a new phone every month...same stupid people would buy it...declare it the best ever and then the next month buy another...well becuase it maybe wasn't the best ever...but the new one is!
As much as I hate the Fed and this phoney monetary system, this is another epic fail for Zero Hedge, which has been wrong on pretty much every topic in the last six years.
I remember the coverage of the last German election and the Tylers' "the sky is falling" approach because Merkel was not a shoe in for re-election, completely ignoring the fact that every single party in Germany is 100% dedicated to the European Union.
Their coverage of European matters is essentially a joke.
I've learned a great deal visiting this site, mostly by reading the comments of smart posters (most of whom have jumped ships or been banned) and so I've read a great deal in the last few years... serious books.
Knowing what I know now, it was obvious that everyone should have piled into equities around 2010, only Zero Hedge readers (of whidh I was already one) were scared shitless of doing so because the Tylers, in their oh-so-sarcastic, patronizing tone were writing day in and day out that a crash was imminent.
Having read The Creature from Jekyll Island, I now realize that 2008 may not even have been a crash. It was a controled demolition to achieve very specific goals.
Today, they don't need to collapse the whole thing. It will go down only when they decide to. And my personal take on this is that they will never allow a massive crash while the first black "president" is in the White House.
It's all about perceptions.
Finally, I will admit that I am a Putin supporter, not for the man himself (althought I realize he is the opposite of its western caricature), but for his refusal to bend his knees before the empire...
That being said, I think he's no match for those people: they've destroyed every single individual and nation that got in their way. I don't think Putin will snap their winning streak.
The empire is way too powerful. If anything, the last few years have proved they can do whatever the hell they want. Who's going to stop them?
So you read ZH for years and got a membership a week ago just to tell us what you think is wrong with ZH?
ZH only needs to be right once and when that happens you will be lucky to be able to have crow to eat.
You should ask for a refund of your membership fee then.
If the economy was healthy and balanced we would not be experiencing slow growth while massive amounts of money are being printed and poured into the system. The crux of our problem remains in the fact that both people and governments have lived beyond their means by taking on debt they cannot repay.
Over the last several decades we have created entitlement societies built on the back of the industrial revolution, technological advantages, capital accumulated from the colonial era, and the domination of global finances. Promises were made on the assumption that the advantages we enjoyed would continue in both Europe and the US. Ever greater prosperity and entitlements were to be sustained through debt financed consumption growth. In that eerie fantasy world, debt fueled consumption was to be the catalyst to bring about evermore growth. Debt does matter and the following article delves deeper into why kicking the can down the road will ultimately fail.
http://brucewilds.blogspot.com/2014/08/modern-monetary-theory-is-wrong-debt.html
If falling gas prices boosted retail stales, let's have the overall number. Is it just a wash? Or worse than a wash?
Oh so now we can have BS retail numbers because of low gas prices. Extend the BS. One game after another.
More opportunity to pay off debt and invest, f going to buy a new phone, tv, or other bauble.
While my arm smells and is turning green and black, I just took a hit of pure heroin and feel good! Even though the light hurts my eyes, I might go for a walk today. Things are looking up.