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Forget Deflation. Stagflation Arrives in Canada
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
wolfstreet.com / by Wolf Richter •
Worst Plunge in Retail Sales since 2008. Inflation Whacks Consumers
Retail sales in Canada fell 2.2% in December from November on a seasonally adjusted basis, but not adjusted for inflation, to C$43.2 billion. “Declines were widespread as lower sales were reported in 10 of 11 subsectors, representing 97% of retail trade,” Statistics Canada said.
It blamed the weather. I mean, really. “Later snowfalls and unseasonably warm weather in many parts of Canada may have contributed to lower seasonal purchases.” It said this right after saying that the decline was widespread, and therefore beyond winter jackets, thermal underwear, and fuzzy earmuffs.
Motor vehicle sales dropped 3.9%, with sales at new car dealers falling 4.1%. In dollar terms, given the magnitude of motor vehicle sales, it was the largest decrease among all subsectors. But wait… “Unseasonably warm weather” in the winter is great for car sales, so they should have jumped!
The post Forget Deflation. Stagflation Arrives in Canada appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/19/forget-deflation-stagflation-arrives-in-canada/
