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Retail Is Getting Clobbered but There Are Some Opportunities Here

from Real Money

The consumer is hot. They said. Unemployment is low, wages are rising, they said. The weekly Redbook report on comparable chain store sales seemed very hot compared to last year, or was that shopping focused simply on off-price? Maybe if, say a central bank were to ... oh, I don't know ... engineer a 25 percent discount into equity markets and weakness into the housing market that the good citizens felt it. Hmm, you mean that there can be a reverse "Wealth Effect"? Yes, Virginia, there is a reverse wealth effect if well, aggregate wealth is overtly reduced at a time of year considered extra-sensitive to consumer spending. more

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