Retail Sales

When I posted on retail sales yesterday, I didn't realize that these numbers were the worst since reporting began in 1970. That's quite a feat! And remember, while gasoline consumption has not fallen with rising prices, the rising prices boosted retail sales numbers. So in reality on an apples vs. apples basis, retail sales were actually worse than reported.

The consumer is referred to by some bloggers as "chucky", a reference to the "consumer that never dies". Well this latest reports suggests that, at least for now, the only consumers still twitching out there are the rich ones.