The economy is collapsing. The fact is that the central banks and Federal Reserve have no ammunition left to stimulate the economy. The fallacious quantitative easings only bought them some time and gave us more debt. Which leaves them limited options:
1. Confiscate private bank accounts
2. Confiscate retirement accounts
3. Confiscate private property
4. Eliminate any opposition
5. Round em up
6. All of the above
Watch what is happening to Greece for a glimpse of our future.
Our choices also are limited:
1. Resist tyranny
2. Submit to tyranny
David DeGerolamo
Snow In The Summer Confirmed – Retail Sales Tumble Most Since February
Following May’s bounce in retail sales (thanks to a rise in gas prices), June’s headline data printed a 0.3% plunge – the most since Feb 2015 – against expectations of a 0.3% rise. Retail Sales ex-Autos also fell MoM (down 0.1% against expectations of a 0.5% rise). This is exactly in line with our warnings last week that spending was likely to drop following a slide in credit and debit card spending as retail sales declined in autos; furniture; building materials; clothing; general merchandise; restaurants; online and miscellaneous. The control grouop data showed a mere 2.1% rise YoY – confirming recessionary signals from wholesale sales data.
