{"id":16563,"date":"2016-01-16T11:50:14","date_gmt":"2016-01-16T16:50:14","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16563"},"modified":"2016-01-16T11:50:14","modified_gmt":"2016-01-16T16:50:14","slug":"consumer-drowning-sorrows-at-the-bar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16563","title":{"rendered":"Consumer Drowning Sorrows at the Bar"},"content":{"rendered":"

CONSUMER DROWNING SORROWS AT THE BAR<\/a><\/h3>\n

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Month after month I watch as the MSM mouthpieces try to spin declining consumer spending in a positive light. They are practically out of excuses. They are befuddled, because month after month they report \u201cawesome\u201d job gains and can\u2019t understand why all these gainfully employed Americans aren\u2019t buying shit they don\u2019t need like they used to. These faux journalists, spouting propaganda for their ruling class bosses, are willfully ignorant of the fact the job gains are in low paying part-time jobs and the fact that Obamacare and record high rents are sapping any discretionary income households would use to buy stuff.<\/p>\n

Despite the propaganda from the media and happy talk from the Liar-in-Chief, the country is currently in a recession and the Fed has no ammo to fake another recovery. We are going down and going down hard. When 70% of your economy is based on Americans buying shit they don\u2019t need from China on credit cards, a dramatic slowdown in consumer spending equals recession. When sales actually fall from November to December during the holiday season, you are in recession. We\u2019ve arrived.<\/p>\n

The December report was a disaster and portends horrible retailer results coming down the road. More ghost malls coming to your neighborhood. The annual results were pitiful, with the more recent months even more dreadful. So after adding 10 million jobs, according to Obama, spending declines? They must be great jobs.<\/p>\n

I think the results are even worse than portrayed in the results presented by the Census Bureau. Retail sales grew by only 2.2% in 2015 versus 2014. That is significantly less than the real inflation being experienced by real people, so on an inflation adjusted basis they fell. Even the 2.2% increase is artificially pumped up by the Fed induced auto debt fueled boom in car sales (or long-term rentals in reality).<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CONSUMER DROWNING SORROWS AT THE BAR Month after month I watch as the MSM mouthpieces try to spin declining consumer spending in a positive light. They are practically out of excuses. They are befuddled, because month after month they report \u201cawesome\u201d job gains and can\u2019t understand why all these gainfully employed Americans aren\u2019t buying shit […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11762,3891,10064,10140,130,1186,175,584,1264,10081],"class_list":["post-16563","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alcohol","tag-auto-loans","tag-bars","tag-burning-platform","tag-china","tag-consumer-spending","tag-credit","tag-obama","tag-recession","tag-restaurants"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16563"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16563\/revisions"}],"predecessor-version":[{"id":16564,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16563\/revisions\/16564"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}