Declining Cdn Retail Sales

[errolanderson]

Released this morning . . . . Cdn retail sales declined 0.1% in May as compared to Bay Street expectations of an 0.3% increase. Canadian consumers now slowing grocery, alcohol and clothing purchases. Excluding auto purchases and fuel, retail sales actually slumped more than 1%.

This may shake-up the Bank of Canada into a realty check. BOC continues to tout a healthy Cdn economy. Suspect Cdn bank rates will continue to ease into the fall market, especially mortgages (IMO).

Loonie hit today as a result . . . .

[Hamloc]

Errol the article I read blamed the lower retail sales on the cold weather we had in May, where is global warming when you need it?

[Radical]

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[Radical]

That didn’t work, remember the CBC headline may 10, Canada economy adds 106,500 jobs. Actual data Reuter’s June 20 Canada lost 16000 jobs in May.

[jazz]

Fake PM, Fake economy, all built on debt. GDP is hovering near 1.5% half of the US. The only reason we are not in a depression is thta Trump suoercharged the US economy and brought us along for the ride.

[bucket]

Released this morning . . . . Cdn retail sales declined 0.1% in May as compared to Bay Street expectations of an 0.3% increase. Canadian consumers now slowing grocery, alcohol and clothing purchases. Excluding auto purchases and fuel, retail sales actually slumped more than 1%.

This may shake-up the Bank of Canada into a realty check. BOC continues to tout a healthy Cdn economy. Suspect Cdn bank rates will continue to ease into the fall market, especially mortgages (IMO).

Loonie hit today as a result . . . .

You do the math on this crop the way it looked back in the middle of MAY....a lot of guys were shitting their pants and backed off considerably...

You are going to find out the value of agriculture to this economy...not from the guys that parade around in new equipment...but from the old stock canadians ...The guys that said "...we are just going through the motions of farming this year.." he knew back in April there was no money to made farming this year ...and his is all paid for....

[Taiga]

Fake PM, Fake economy, all built on debt. GDP is hovering near 1.5% half of the US. The only reason we are not in a depression is thta Trump suoercharged the US economy and brought us along for the ride.

Last four years an absolute disaster. Not sure where the next four are headed, hopefully we can close this dark chapter in history. Will take a decade to recover or more, assuming the political will is there.

[errolanderson]

This is starting to feel like the Titanic . . . . Central banks globally now cutting rates from Bank of Japan, ECB, South Africa, Bank of Korea, Bank of Nigeria . . . central bankers are increasingly dovish. But hark, the Bank of Canada sees nothing wrong . . . .

as the old saying; 'Something is wrong in the state of Denmark' seems to fit the rapid fallout in global markets these days . . . .

[errolanderson]

This long-talked-about global insolvency crisis is now upon us . . . . Central banks globally now appear rushed to cut rates this week and rising concerns in China bank liquidity and fallout in the EU and rising geo-political tensions could trigger market volatility into mid summer. The VIX index has been incredibly docile reflecting a complacent equity investor.

This may not be just the next market fire alarm rescued by central bank easy money policies. Central bank policies no longer have the impact they once did. Global bond yields have turned decisively negative and gov’t debt can never be paid back.