In 2065, the Commerce Dept. will begin reporting “unit sales”

Unluckily, many of us will be dead

The report says retail sales skyrocketed. No surprise – fingers are pointing at rebate checks…

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said one possible explanation was that consumers have suddenly returned to their carefree spending ways despite weak consumer confidence readings and the credit crunch.

But he said a more likely reason was that rebate checks were giving a temporary boost to spending that would not last, resulting in weaker economic performance in coming months.

Be reminded that gasoline alone accounted for 20% of the jump, and energy costs are built into almost everything everyone buys. Don’t forget the dollar either – it still hasn’t recovered from it’s early 2008 cliff dive…

dollar-index

Compliments of Barchart

Absolutely no chance that domestic prices are simply blowing out?

UPDATE: Rebates, rebates, rebates. This smells funny.

UPDATE 2: Nope – no chance prices are rising

Consumer inflation pushed higher in May as gasoline prices rose at the fastest pace in half a year, the Labor Department said on Friday.

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