The April Retail Sales Report was just released, and it blew the previous record, set in March, right out of the water…
(by Half Dollar) Another day, and it’s another day for the record books.
Of course, all of the record breaking of late has been bad news, but they are records none the less.
Today’s record comes in the form of Retail Sales, which broke the previous record that was set just last month!
Here’s a look at the latest report:
Some of the highlights that speak to just how historic this US economic collapse has been, consider the plunge from just last month:
- Sales at clothing and clothing accessories stores plunged by 78%
- Sales at Electronics and appliance stores plunged 60%
- Sales at furniture and home furnishing stores plunged 58%
Taking the report at face value, it’s pretty much a disaster across the board.
The mainstream is looking to internet sales as a positive, but that’s pretty much a given.
I mean, who isn’t ordering groceries online for home delivery?
But I digress.
We hear talk about a “V”-shaped recovery or a “U”-shaped recovery, and I can’t remember where I read this, but I think it will most likely be a “L”-shaped recovery, which essentially means no recovery at all.
Charles Hugh Smith and I discussed this and a whole lot more at length last week:
Of course, before we can have any recovery at all, we need to first stop falling.
In other news, gold and silver are bid:
Just like they have been, and just like they will continue to be.