There is a lot of spin out there when it comes to economic news. You get spin from the corporate media, You get spin from government officials. And you get spin from central bankers. In this episode of the Friday Gold Wrap, host Mike Maharrey spins the spin, breaking down the media take on the retail sales numbers and Jerome Powell’s spin during a talk this week. Whom should we believe? Listen and decide.
American consumers are in a sour mood, but they haven’t stopped spending money. The problem is they’re spending money they don’t have. And they’re getting less for it.
American consumers are spending more, getting less, and borrowing more to fund this involuntary spending spree.
Retail sales in March were 7% higher than they were in the stimulus-fueled March of 2021, but thanks to inflation, they didn’t get as much bang for their buck.
Retail sales have gone up to start the year as Americans keep spending. But what are they buying?
American consumers are spending hand-over-fist in an effort to keep up with surging prices.
In October, retail sales surged much higher than expected, rising 1.7%. The mainstream gushed over retail spending, asserting that it was a sign that the economy is booming. At the time, I argued that it wasn’t necessarily good news.
Well, the news just got even worse. Retail sales in November disappointed, despite another big surge in inflation.
It appears American consumers are going to have a red Christmas this year.
Red — as in going deeper into debt.
The retail sales numbers for October came in even better than expected. The mainstream reported this as fantastic news — proof that the economy is booming. Meanwhile, Janet Yellen went on national TV and put a new spin on the transitory inflation narrative. In this week’s Friday Gold Wrap, host Mike Maharrey explains why you shouldn’t fall for all this mainstream and government spin.
Retail sales surged at a higher than expected rate in October, rising 1.7%.
The mainstream reported this as fantastic news signaling a strong economy. American consumers are out there buying lots of stuff. The stock market rallied and gold fell.
But the mainstream narrative isn’t giving you the full picture.
We got a much better than expected retail sales report for August. That sparked a selloff in gold and silver as the markets continue to anticipate Fed monetary tightening. But was this report really fantastic news? Peter Schiff breaks down the report and says it’s actually just telling us consumers are paying more to buy less.