US retail sales unexpectedly decline
For instance, everyone in suburbia seems to have a new car these days. This means that everyone has new and larger payments. But wages have not gone up. This puts a strain on finances and limits future purchases. It’s more important to make the SUV payment than to buy that new refrigerator.
This debt binge has been enabled by the Federal Reserve.
(From CNBC)U.S. retail sales fell for the first time in seven months in September, raising fears that a slowdown in the American manufacturing sector could be starting to bleed into the consumer side of the economy.
The Commerce Department said on Wednesday retail sales dropped 0.3% last month as households slashed spending on building materials, online purchases and especially automobiles.
http://www.againstcronycapitalism.org/
Source: https://www.ac2news.com/2019/10/us-retail-sales-unexpectedly-decline/
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