Nice interactive Retail Sales graph, via the NYT:
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click for interactive app
Data via Goldman Sachs, NYT
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Source:
June Is Another Weak Month for U.S. Retail Sales
STEPHANIE ROSENBLOOM
NYT July 9, 2009
http://www.nytimes.com/2009/07/10/business/10shop.html
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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July 10th, 2009 at 7:09 am
If one assumes “green shoots”should point upwards, then what do we call all those columns below the x-axis? Fertilizer?
July 10th, 2009 at 7:19 am
Perhaps that is why exports from China were down so much…they weren’t sending as many t-shirts to Wal-Mart.
…Noted too the falls in PPI in Europe this am….interesting times…
July 10th, 2009 at 7:57 am
Another long day today, but I have been thinking about the time line of our problems and have changed my mind. I don’t think that by this excessive government spending we are postponing this for our children and grandchildren any longer. The consequences of our national debt will be upon us in 24 months or less. I think the value of the dollar as a world currency, which 6 months ago I’d have pooh-poohed as “not gonna happpen” will be gone in two years. Yes, 24 months is my “Cramer”…
….Put it in your book…interesting times..
July 10th, 2009 at 9:02 am
@airtrader
“If one assumes “green shoots”should point upwards, then what do we call all those columns below the x-axis?”
—
I’d call them “blue roots”…& unfortunately they are searching deeper and deeper for water…
July 10th, 2009 at 9:47 am
@ BnT
“I think the value of the dollar as a world currency…. will be gone in two years.…”
Assuming this will cause you to change your asset allocation model; what defensive posture will you be adopting?
July 10th, 2009 at 10:30 am
I will probably invest in Brazil and India…sorry I’ve been in the OR last few hours..
July 10th, 2009 at 11:22 am
Go figure. The perpetual shopping machine finally broke down. A lot of us out here have been shaking our heads for years wondering what was keeping it all up. Even those who weren’t necessarily using debt to finance it all had completely lost their minds. Some are still there, but many others have awakened from their reverie to wonder why they fell into it, as they survey their huge walk-in closets, garages, and storage units full of tons of crap they don’t need.
July 10th, 2009 at 11:25 am
Sorry, the rant just slipped out.
July 10th, 2009 at 11:29 am
It is ok, onlooker…I just wrote Uncle a very big check for a disagreement about deduction for 2007 and 2008..ranting is allowed..