US Retail Sales Post Sharpest Drop in More Than a Year in July

These stats paint the picture of the Avg American Consumer today being in a financial bind with most having to cut back on even essentials due to the rise in costs. Couple that with the consumer sentiment index again at historic lows and you have the onset outlook of a new kind of economy where the much slower growing pool of 1%ers continue to accelerate wealth accumulation on their end while the median and below American sinks into mutual financial quicksand. Expect retail stocks to begin their own bear market soon.