Submitted by Tyler Durden on 06/13/2012 - 08:40
Two more data points, two more disappointments: retail sales declined in May by 0.2%, in line with expectations, and unchanged from the April revision from 0.1% to -0.2%. Worse however were retail sales ex autos which had the biggest drop in 2 years, sliding by 0.4%, on expectations of an unchanged print. And so the retrenchment of the US consumer arrives. But at least "housing has bottomed." And in further 'NEW QE is coming' news, PPI also missed for the nth month in a row, printing at -1.0% on expectations of -0.6%, with foods dropping -0.6%, but energy collapsing by a massive 4.3%. PPI ex food and energy (so the items everyone uses, but nobody ever really counts) was up 0.2%. Gold, however, appears to be ignoring the core items, and has soared by $10 since the report, as today's data screams MOAR NEW QE.
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http://www.zerohedge.com/news/retail-sales-miss-ex-autos-ppi-misses-gold-soars-more-qe-expectations
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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