The real scoop behind the economy in Reid’s typical no nonsense, here is the rest of the story approach. Unemployment 14.3 %–worse than Italy, and we know how bad it is there! No retail growth as they want you to believe–NEGATIVE retail growth–way negative if you take out cars. And why? Lack of certainty, lack of trust, Obama care horrors (to be explored in depth in upcoming shows), and regulations–lots of regulations–and one new one coming towards your community–relocation of those “who deserve” but have not earned housing next to you…cause didn’t ya know? The reason we have poverty is folks don’t live where they are supposed to–so the government is here to help–social justice rolled into redistribution. Sounds a bit like Agenda 21, doesn’t it? It is.
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Excerpted from Moneyline ezine:
The increase seems healthy enough until you dive into the details. Here are some retail sales comments from Bloomberg to help put things into perspective.
- Restaurants and bars decreased 1.2 percent in June, the most since February 2008.
- Sales dropped 2.2 percent at building materials outlets, the most since May 2012.
- Purchases at department stores declined 1 percent in June.
- Retail sales excluding autos and gasoline unexpectedly fell 0.1 percent.
- Purchases rose 2.4 percent at furniture and home furnishing chains, the most since May 2012.
- Automobile dealer sales rose 1.8 percent
- Purchases excluding autos, gasoline and building materials, which render the figures used to calculate gross domestic product, rose 0.1 percent after a 0.2 percent increase in the previous month.
Yet economists still predict the US economy will expand at 2.3% in the third quarter. I will take the under (not that there is much meaning to GDP numbers in the first place). Note–adjusted for inflation retail sales figures were negative