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: Instapundit.comSTIMULUS: Retail sales fall for second straight month in April, raising doubts about recovery. U?
By Glenn Reynolds
STIMULUS: Retail sales fall for second straight month in April, raising doubts about recovery.
UPDATE: More worries:
The “green shoots” theory of economic recovery is starting to look a bit like the herbs in my back yard–the ones I forgot to tell Peter to water while I was in Omaha. Retail sales fell again, despite confident proclamations that consumers had rethought their overreaction last fall. And foreclosures hit another record, which was oddly described as a “levelling off” by a lot of papers. The March numbers showed a big spike, because legislative and corporate moratoriums expired. In that context, a 1% increase in April isn’t a “levelling off”–it’s extraordinarily worrying.
Read the whole thing. Plus, How’s Obama’s foreclosure policy working out? Not so well. What we need is a steady hand on the tiller; what we’re getting is reckless spending and a sharp increase in “regime uncertainty,” which discourages investment and hiring.
And there’s this confidence-inspiring headline from the Post: Fannie Loses $23 Billion, Prompting Even Bigger Bailout: Chance of Repaying Taxpayers Is Slim. So how’re we doing?
Full post as published by Instapundit.com on May 13, 2009 (boomark / email).
Retail sales drop
Article from the New York Times:Retail Sales Fall 1.2% in SeptemberBy MICHAEL M. GRYNBAUMPublished: October 15, 2008Retail sales fell sharply in September as consumers shunned department stores, auto showrooms and shopping malls, ratcheting back spending for a third consecutive month...
Existing Home Sales Fall 5.3%
Existing-home sales tumbled in January, according to the National Association of Realtors, as buyers were likely waiting to see how details of the economic stimulus package would pan out...
Temporarily Suspend the Sales Tax
With the near-constant a href="http://economix.blogs.nytimes.com/2008/12/16/the-ideal-stimulus-package/"discussion/a of what should go into Obama's a href="http://www.washingtonpost...
Demand Down: Retail Sales Slip In March
The bad economic news continues: Two months of tentative gains in retail sales slid backward in March, the government reported on Tuesday, signaling more weakness in demand as worried consumers continue to tighten their budgets...
New Zealands April House Prices Fall 9.2% From Year Earlier
"New Zealand house prices fell for the 10th straight month in April as a deepening recession and falling employment deterred buyers from the market."
CBO Report Confirms Economic Recovery Act Provides Immediate Stimulus to Help Create Jobs
The Congressional Budget Office?s first analysis of the entire House recovery bill makes clear that what experts have been saying all along: the American Recovery and Reinvestment Act provides immediate stimulus to help create jobs and makes long-term, targeted, and responsible investments to keep our nation?s economy growing for years to come...
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Recovery Claim
Florida Insurance Guarantee Association agrees to pay $14 million settlement to Home Solutions of America for construction services.
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