EE_
19th December 2014, 06:27 AM
Wall Street has never been this bullish on stocks and the economy, consumers have more money from cheap gas...where are the booming Holiday retail sales?
Plummeting Holiday Retail Sales Show the True State of the Economy
BY THE DAILY COIN · DECEMBER 17, 2014
MOPE has been in full swing. Politicians and central bankers alike have been talking at a non stop steady pace, They have been telling their citizens that an economic recovery is here, things are looking brighter and the man on the street is once again driving the economy by opening his wallet and spending.
They are wrong. Despite their rhetoric, and attempts to “create” a recover by simply talking about it, it just isn’t happening. This can be seen in the declining retail sales seen in what is supposed to be the busiest time of the year for retailers.
Across the board from online shopping to physical brick and mortar stores. Black Friday and Thanksgiving weekend sales this year were abysmal, plummeting from previous years.
It has been forecast that sales fell 11% from the previous year, with shoppers spending $380.90 over the weekend, compared to $407.02 last year. This equates to a drop of over $6.5 billion dollars!
As indicated, the drop in sales was not limited to the brick and mortar space, that has been in a decline for years, but spilled over into the growing online sales world as well. Online sales are forecasted to of dropped from $177.67 per customer in 2013, to $159.55 per customer this year, a 10.2% drop. A significant drop.
This drastic drop in action as reported by the New York Times, has left Executives at the retail federation, at a loss for words. Matthew Shay, the president and chief executive officer of the group indicated that the results could show “that there are a significant number of Americans out there for whom the recession is not yet over”.
This is exactly what many in the precious metals space have been reporting for years, what Matthew Shay said is dead on. For the majority of those living in the real world, the economic recovery never happened! The man on the street is making less and spending more. This is the definition of stagflation.
To show how poorly the economy is actually doing, the Economic Collapse blog compiled the following figures, which were released by the Social Security Administration recently:
39 percent of American workers made less than $20,000 last year
52 percent of American workers made less than $30,000 last year
63 percent of American workers made less than $40,000 last year
72 percent of American workers made less than $50,000 last year
The mainstream media, the politicians and central bankers around the world can say whatever they want, but I ask YOU this, does this look like a recover to you?
- See more at: http://thedailycoin.org/?p=13906#sthash.EevlEj5z.dpuf
Plummeting Holiday Retail Sales Show the True State of the Economy
BY THE DAILY COIN · DECEMBER 17, 2014
MOPE has been in full swing. Politicians and central bankers alike have been talking at a non stop steady pace, They have been telling their citizens that an economic recovery is here, things are looking brighter and the man on the street is once again driving the economy by opening his wallet and spending.
They are wrong. Despite their rhetoric, and attempts to “create” a recover by simply talking about it, it just isn’t happening. This can be seen in the declining retail sales seen in what is supposed to be the busiest time of the year for retailers.
Across the board from online shopping to physical brick and mortar stores. Black Friday and Thanksgiving weekend sales this year were abysmal, plummeting from previous years.
It has been forecast that sales fell 11% from the previous year, with shoppers spending $380.90 over the weekend, compared to $407.02 last year. This equates to a drop of over $6.5 billion dollars!
As indicated, the drop in sales was not limited to the brick and mortar space, that has been in a decline for years, but spilled over into the growing online sales world as well. Online sales are forecasted to of dropped from $177.67 per customer in 2013, to $159.55 per customer this year, a 10.2% drop. A significant drop.
This drastic drop in action as reported by the New York Times, has left Executives at the retail federation, at a loss for words. Matthew Shay, the president and chief executive officer of the group indicated that the results could show “that there are a significant number of Americans out there for whom the recession is not yet over”.
This is exactly what many in the precious metals space have been reporting for years, what Matthew Shay said is dead on. For the majority of those living in the real world, the economic recovery never happened! The man on the street is making less and spending more. This is the definition of stagflation.
To show how poorly the economy is actually doing, the Economic Collapse blog compiled the following figures, which were released by the Social Security Administration recently:
39 percent of American workers made less than $20,000 last year
52 percent of American workers made less than $30,000 last year
63 percent of American workers made less than $40,000 last year
72 percent of American workers made less than $50,000 last year
The mainstream media, the politicians and central bankers around the world can say whatever they want, but I ask YOU this, does this look like a recover to you?
- See more at: http://thedailycoin.org/?p=13906#sthash.EevlEj5z.dpuf