Somebody IS Spending, from Bill Rafter
Somebody is spending, but who? This chart shows YOY customs duties and excise taxes which are a fairly good surrogate for retail spending.
However, here's a question: if the federal government buys a fleet of new Chevy Volts (the ones that burn up, LOL), do they pay excise taxes?
Mr. Krisrock writes:
The combination of Higher Energy, Higher Dollar, Higher Commodities, and the September 15 California Tax on the internet has caused a SURGE in amazon orders to beat the increase…and of course Obama's playing with the numbers. Look at the huge drop in employment a year ago in October. Obama knows how the numbers work a year ahead, and of course, where do auto parts come from…electronic components come from Asia…for starters…and foreign car assemblies do buy foreign parts.