Wednesday, August 26, 2015

Smoke and Mirrors — Sharmini Peries interviews Michael Hudson

Video and transcript.

Michael Hudson
Smoke and Mirrors
Sharmini Peries interviews Michael Hudson

1 comment:

Matt Franko said...

Hudson: " That’s why they don’t have enough money to buy goods and services, and so sales are falling."

"The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $446.5 billion, an increase of 0.6 percent (±0.5%) from the previous month, and up 2.4 percent (±0.7%) above July 2014. Total sales for the May 2015 through July 2015 period were up 2.3 percent (±0.7%) from the same period a year ago. The May 2015 to June 2015 percent change was revised from -0.3 percent (±0.5%)* to virtually unchanged (±0.2%)*.
Retail trade sales were up 0.6 percent (±0.5%) from June 2015, and up 1.6 percent (±0.7%) above last year. Food services and drinking places were up 9.0 percent (±3.3%) from July 2014 and motor vehicle and parts dealers were up 6.9 percent (±2.8%) from last year."