The Commerce Department has just announced that retail spending, in January, was up o.5%. This far exceeded the estimates*.
*Understand the estimates were pretty low to begin with. Pretty much the economic equivalent of expecting a “special” kid to make the Taj Majal out Popsicle sticks. Unless it is the Elephant man or that kid from the movie Mask, it just isn’t going to happen.
Seriously? 0.5% is worth the “hey-the-recession-is-over” celebration?? Isn’t that the equivalent of some tourist going in and paying full price for a NASCAR t-shirt during the Daytona 500?
Ok, maybe it is a bit more, but certainly not worth celebrating the end of an economic crisis. I guess if we hear “it is over” enough times we will believe it.
What do you think? Now I can go buy an iPad?