Yea, Things are Hopeful: Sales a Big Unexpected Drop
By Grant Lawrence
"Recently we have seen tentative signs that the sharp decline in economic activity may be slowing," Federal Reserve Chairman Bernanke on the hopeful signs in a housing, credit, and financial crisis the worst since the Great Depression.
Things are hopeful so don't let the collapse of the American auto market or the deflation reported for the first time in a half century bother you.
Oh, and don't let this other piece of news interfere with the economic rebound we are all beginning to experience.
Stores Suffer Big Drop in March Sales
CNNMoney.com -- Retail sales suffered an unexpected big decline in March which broke two straight months of improving sales, the government reported Tuesday.
The Commerce Department said total retail sales fell 1.1% last month, compared with February's revised gain of 0.3%. Sales in February were originally reported to have dipped 0.1%....
The economy stinks, people are jobless, but Economic Propaganda is working.
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Well, you know that Wall Street isn't connected to the real economy; i.e., the production of actual stuff - so, in a way, the system needs this type of propaganda.
ReplyDeleteAs long as enough people believe the emperor does wear clothes, things are cool.
Now, to mix fairytale metaphors a bit, we have a 'Tinkerbell is dead' type of situation on our hands.
So, what the various governments and economic pundits are telling us is that, if all of us now start to clap our hands, Tinkerbell will rise again...
... and since our 'über' economy is, in essence, a feel good story construct that we made (up) ourselves, this tactic might even do the trick,
J.