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Back To School? Where?

Back To School? Where? 

Courtesy of Karl Denninger at The Market Ticker

Uh, what back-to-school sales?

back to school sales

That’s nasty – one week before school starts in most of the country, and both weekly and year-over-year changes are deeply negative!

Note that the week/over/week change was expected to be strongly positive, which correlates well with the "back to school" surge.

No dice – that’s a miss of 1.1%, enormous by any standard.

The reason is simple: The consumer is tapped out.

Those "green shoots" are in fact hallucinogenic weeds.

 


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