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Tag Archives: Retail sales

Retail Sales Disappoint Despite 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.Retail sales in November only rose 0.3%. The consensus expectation was for a 0.8% gain with some economists projecting sales to jump by as much as...

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I’m Dreaming of a Red Christmas?

It appears American consumers are going to have a red Christmas this year.Red — as in going deeper into debt.Shoppers plan to spend less, but borrow more this holiday season.Black Friday spending fell this year, both in stores and online. It was the first year-over-year Black Friday decline on record.Online retailers rang up $8.9 billion in sales, down slightly from the $9 billion spent online in 2020. It marked the first time ever year-on-year online sales dropped.Foot traffic in...

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Don’t Fall for It! SchiffGold Friday Gold Wrap November 19, 2021

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.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news...

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Booming Retail Sales Don’t Necessarily Signal “Strong Economy”

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. There are two important factors to consider as you analyze these surging retail sales numbers.First, retail sales aren’t inflation-adjusted. The data just reflects the amount of money...

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Peter Schiff: Buy Less; Pay More

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.Retail sales were up a healthy 0.7% last month. The expectation was for a 0.8% decrease. Taking out autos, retail sales rose 1.8%, and x-autos and gas, retail sales...

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CPI Lie? SchiffGold Friday Gold Wrap Sept. 17, 2021

CPI data came in slightly cooler than expected for August, giving new energy to the “transitory” inflation narrative. But can we really trust these numbers? In this episode, Friday Gold Wrap host Mike Maharrey takes a deep dive into the CPI and considers this question. He also touches on the big gold sell-off Thursday sparked by surprisingly good retail sales numbers.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with...

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Paying More and Getting Less

In the Federal Reserve’s new world of “transitory” inflation, Americans are paying more to get less.Retail sales were up 0.6% from May to June. According to the Commerce Department, American consumers spent $621 billion on retail goods and services last month. With the big 1.7% drop in May, retail sales remained below levels in March and April. Meanwhile, price increases in June far outran the increase in retail sales. In fact, they outran retail sales for the entirety of the second...

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Peter Schiff: We’re Adrift in a Sea of Inflation

We’ve gotten quite a bit of economic data this week. Federal Reserve Chairman Jerome Powell insists inflation is anchored at 2%. But his assurances notwithstanding, a lot of the data signals inflation. In his podcast, Peter went over some of the numbers and concluded that inflation isn’t anchored at all. It’s anchors aweigh. We are adrift in a sea of inflation.Bond yields have continued to tick up this week. In fact, the yield on the 10-year Treasury topped 1.65% early Wednesday, hitting...

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Peter Schiff: Uncle Sam Funds Christmas in January

After three straight months of sagging retail sales, American consumers flush with stimulus money went on a spending spree last month. Retail sales surged 5.3% to start the year, significantly beating expectations. In his podcast, Peter Schiff called it Christmas in January.The Christmas season was a disaster for retailers. Sales dropped in October and November and then fell again in December. In fact, the Commerce Department revised December sales down from a 0.7% drop...

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That Seems Less Than Ideal: SchiffGold Friday Gold Wrap Oct. 18, 2019

News of a possible “phase 1 trade deal” and movement toward a resolution of the Brexit fiasco have buoyed stocks and put a lid on silver and gold this week. But positive vibes on these two fronts overshadowed a lot of economic data that came out this week that was less than ideal. It seems the American consumer might be getting close to being maxed out. In this episode of the SchiffGold Friday Gold Wrap podcast, host Mike Maharrey digs into a big pile of debt and more.The SchiffGold Friday...

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