Finance, Fuel Prices, Economics, Markets

As If You Didn’t Know

Well, here’s the proof from Zero (Read whole article here)

Gallup Consumer Spending Data Refutes Commerce Department January Retail Sales Announcement

Submitted by Tyler Durden on 02/12/2010 13:21 -0500

As if anyone needed more reasons to doubt the data coming out of our government. Earlier today the Commerce Department reported that January retail sales data came at a nice and bubbly 0.5% sequential increase, and an even nicer and bubblier 4.7% YoY. This presumably beat expectations which were looking for a sequential beat of 0.3%. Yet here comes the much more reliable Gallup data to throw some salt in yet another economic data fabrication. According to daily Gallup consumer polling, which due to its lack of proximity to the government propaganda complex is vastly more reliable, the January average data showed a decline of 5.8% over January 2009 and a whopping 16.3% decline over December. This is beginning to parallel the ever increasing divergence between the ABC consumer comfort index and the UMichigan index which lately seems to only track the average level of the S&P over the prior month.

The chart below shows the true consumer spending behavior of Americans.

The gallup methodology is much more accurate than anything that could possible come out of the Commerce Department with its infinite data “adjustments.”

If you’re in the business of selling stuff, now you know why sales aren’t so hot. The problem is not you, its our lovely government which seems incapable of telling the truth about ANYTHING.

Notice what the graph at left has to say about the notion of a recovery and a double-dip recession.  Do you see any recovery there? Ignore the spikes, those are holiday sales.


February 12, 2010 Posted by | Uncategorized | Leave a comment