Economic or Journalistic Uncertainty? Which is Worse?
In so many ways this article points to the weakness in journalism and consquently the "PR" problem that this generates for the mythical "market". The reporter barely has a clue and can only create a sense of uncomfortableness that further erodes consumer sentiment. Not to discount real problems by any means.
The real answer to the poorly asked question is: The world did not stop and people still need/want stuff. The US just realized that it did not need that much stuff.
U.S. retail sales rebound, new jobless claims slip | Reuters: "The Commerce Department said total retail sales rose 1 percent, advancing for the first time in seven months, after slumping by a revised 3 percent in December.
January's increase in retail sales was the biggest since November 2007 and beat economists' expectations for a 0.8 percent decline. But compared to January 2008, sales dived 9.7 percent.
'It is a bit of a puzzle because consumer fundamentals remain poor. Maybe retailers lured shoppers with aggressive discounting. Still it's a small piece of good news,' said Zach Pandl, an economist at Nomura Securities International in New York."
The real answer to the poorly asked question is: The world did not stop and people still need/want stuff. The US just realized that it did not need that much stuff.
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