Meanwhile, away from the stock market mania…
GDP fell by 3.5% in the year 2020, the worst annual decline since 1946. Trade deficit in Q4 hit new all-time worst.
Rates for trucking, ocean containers, airfreight, parcels, you name it, the costs for shipping consumer & industrial goods are surging.
Third month in a row of declining retail sales, “seasonally adjusted.” But the curveball from ecommerce caused me to dig and doubt. 15 whiplash charts of retail sales.
Weirdest Economy Ever, as 20 million people still claim unemployment benefits.
The one-way street of Globalization by Corporate America.
But don’t fear for airline shareholders & creditors; they get to benefit from another $15 billion via “Taxpayer Capitalism.”
During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance?
Consumers still earned more in November than in the Good Times, but a lot less than back when free Pandemic-money was massively hailing down.