LINKS-ДАЙДЖЕСТ 26.02.2012
Guest Post: Extend And Pretend Coming To An End
Submitted by Jim Quinn of The Burning Platform,
Статья автора с «Горящей платформы»
Время кредитной экспансии подходит к концу.
Рынки недвижимости и розничной торговли, получившие наибольшие выгоды от кредитного разгула ждут очень тяжелые времена..
Retail sales in 1992 totaled $2.0 trillion. By 2011 they had grown to $4.7 trillion, a 135% increase in nineteen years. A full 64% of this rise is solely due to inflation, as measured by the BLS. In reality, using the true inflation figures, the entire increase can be attributed to inflation. Over this time span the U.S. population has grown from 255 million to 313 million, a 23% increase. Median household income has grown by a mere 8% over this same time frame. The increase in retail sales was completely reliant upon the American consumers willing to become a debt slaves to the Wall Street bank slave masters. It is obvious we have learned to love our slavery. Credit card debt grew from $265 billion in 1992 to a peak of $972 billion in September of 2008, when the financial system collapsed. The 267% increase in debt allowed Americans to live far above their means and enriched the Wall Street banking cabal. The decline to the current level of $800 billion was exclusively due to write-offs by the banks, fully funded by the American taxpayer.
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Credit cards are currently being used far less as a way to live beyond your means, and more to survive another day. This can be seen in the details underlying the monthly retail sales figures. On a real basis, with inflation on the things we need to live like energy, food and clothing rising at a 10% clip, retail sales are declining. Gasoline, food and medicine are the drivers of retail today. The surge in automobile sales is just another part of the “extend and pretend” plan, as Bernanke provides free money to banks and finance companies so they can make seven year 0% interest loans to subprime borrowers. Easy credit extended to deadbeats will not create the cash flow needed to repay the debt. The continued penetration of on-line retailers does not bode well for the dying bricks and mortar zombie retailers like Sears, JC Penny, Macys and hundreds of other dead retailers walking. With gas prices soaring, the economy headed back into recession and the Federal Reserve out of ammunition
Key Events In The Week Ahead - US Growth Focus And Oil Price Trends
Голдман о предстоящих на неделе событиях
Confused By The Market? Here Is What The Smart Money Is Doing
Отчет 13F позволяет проследить за тем, во что инвестируют хеджфонды. Goldman Sachs регулярно проводит подобные исследования
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