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Was Black Friday a Bust?

(11/28/22) Was Black Friday a bust? It's make-or-break time for Wall Street: Retail Sales numbers are nominal, and do not taking into consideration inflation impact: 78% jump in lay-away purchasing; stocks are trying to re-price-in downwardly revised earnings estimates. FOMC Meeting Minutes tend to suggest a terminal interest rate of 5.25%. Why do retail sales matter? 70% of GDP; markets are trying to price-in "reversion to normalcy;" how deep will the recession be? excess exuberance is already being wrung out. What is Goldman seeing that everyone else is missing? A history of Retail Sales data & factoring in Inflation; We're spending more, but buying less. The Saga of Mrs. Roberts' Birthday: why is everyone discounting (and why this doesn't show up in sale figures, but do appear on balance sheets). No more background checks for rental applications; businesses closing in Oregon (and elsewhere) because of high crime; the problem with decriminalizing crime & store closures: Food Deserts; another problem with "free stuff" is the pulling-forward of consumption.
2:43 - Markets' Make-0r-Break Moment
14:02 - Why Retail Sales Matter
30:04 - Mrs. Roberts' Birthday: Spending More Buying Less
43:59 - De-Criminalizing Crime & The Problem with Store Closures

Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO
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Lance Roberts
Finally, financial news that makes sense. Lance Roberts, the host of "StreetTalkLive", has a unique ability to bring the complex world of economics, investing and personal financial wealth building to you in simple, easy and informative ways but also makes it entertaining to listen to at the same time.
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