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When You Lose The Consumer…
Last month, Americans spent more on flatscreens, lumber, watering cans, groceries, gas, clothes and restaurant food, but less on timing belts, chairs, ibuprofen, batting helmets, string instruments, books, online purchases and "miscellaneous."
That's a humorous (hopefully) summary of the category breakdown from Wednesday's retail sales report, which showed overall, nominal spending flatlined in April.
The unchanged headline counted as a meaningful "miss," with the scare quotes to denote that c
My view is that hard landing in the long run: economic recession among small guys/gals could regress to health issues, which in turn results in an unexcepted inflationary catalyst.