Tuesday, March 13, 2012

BOOM: Retail Sales Climb the Most in Five Months

Retail sales in the U.S. rose in February by the most in five months, reflecting broad-based gains, according to the Commerce Department.

The 1.1 percent advance followed a 0.6 percent increase in January that was larger than previously estimated. Commerce Department figures showed sales improved in 11 of 13 industry categories, including auto dealers and clothing stores.

Keynesian economists were confused as usual. Bloomberg reports:
Consumers are “unfazed by higher gas prices,” said Jonathan Basile, an economist at Credit Suisse in New York,...“This is a pleasant surprise on the overall picture for the economy."
It may be a surprise to Basile, but not to EPJ Daily Alert readers. On February 29, I wrote Daily Alert subscribers:
More and more commentators are stating that the climb in gasoline prices will hurt the economy. Ignore them. The money printing that is fueling the oil price spike is also fueling the stock market manipulated boom and the manipulated economic boom. The climb in prices is not about oil. It is about the depreciation of the dollar against all assets. This is the time to own assets.
Bernanke printed money is starting to flood the system. The price inflation ahead will truly be spectacular, but it will put money in everyone's hands (in varying amounts) causing bidding wars for just about everything. Be prepared.


  1. Is there anything credit CAN'T do? Yay, the economy is bouncing back!!!1111!!!

  2. Keynesians are totally lost!! Just heard this explanation from SRNNews radio: ''US retail sales rose 1.1 percent in February as consumers delayed their purchases to wait for the Presidents Day discounts.''

  3. Tax refund season.

  4. Hail Hail the Great Bernanke! He fixes another market failure and increases effective demand!!