Housing and auto sales continue to accelerate, not to mention gold coin sales. The Bernanke printing is now clearly entering the economy (and not ending up in excess reserves). It's hard to see how this doesn't result in accelerating consumer price inflation in 2013.
(ht Mark Perry)
Bob, there is a lot of evidence for channel stuffing going on as well. One prominent bear site has a rather convincing bar graph of GM's antics.
ReplyDeleteThe definition of auto sales count the sales to near capacity full dealer lots, not consumers.
The spike during 2009--Cash for Clunkers--is hilarious.
ReplyDeleteNice catch! :)
DeleteThought you might find this interesting (piece from a Carlyle Group researcher):
ReplyDeletehttp://finance.fortune.cnn.com/2012/12/03/fiscal-cliff-stimulus/
It's sad to see bias reporting. You must be aware, not only of the channel stuffing, which is well know, but Sandy storm also created unusual demand for new cars. Both major factors have little to do with Bernanke.
ReplyDelete