“July advance retail sales estimate is 14.0 percent above Apr ’21, but down 3.0 percent in real terms over that same time—businesses are selling less stuff, but at much higher prices.” E.J. Antoni

You know how much your grocery bills, rent, and all other expenses have gone up over three years. Consider that the data markers followed by the financial markets all consider your higher expenses as bullish and good news all around. That is pathetically untrue. It would be nice for a return to some degree of honesty.

All of the increased sales over the past 3 1/2 years are illusory. It is simply you and I and everyone spending more on getting the same thing. That’s the best case. We are likely spending more on something worse.

Jeffery A Tucker editorial, The Epoch Times, August 22, 2024