Commentary
The latest report on retail sales from the Department of Commerce is now available, but unfortunately, the numbers are not as positive as hoped.
While this slight increase is an improvement from the previous month’s decline, the sustainability of this growth is in question. Furthermore, the data not being adjusted for price changes raises concerns about the true implications of these numbers.
Reflecting on past prices, a recent receipt from 1999 shared by Wall Street Silver showcased significantly lower costs for items like tacos and burritos compared to current prices. This highlights the significant inflation that has occurred over the years.
Inflation, which appeared to be under control between 2000 and 2020, has resurfaced due to increased money circulation by Congress and the Federal Reserve. Official data suggests a significant rise in food prices, but many consumers do not perceive such drastic changes in their day-to-day experiences.
This increase in minimum wage, while it may make supporters feel good, is ultimately cruel. It is impacting the retail sector and causing consumers to cut back on spending. This economic decline in America is evident, despite what data reports may say. It is important to trust your own observations rather than relying solely on data.
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