Retail sales show the consumer wasn’t panicking in July . . . so says Brian Wesbury at First Trust . . . While I can see the chart is pointing up, we must admit to the absolute collapse in consumer sentiment since the retail sales numbers were compiled.

The US consumer has plenty of funds to fuel retail sales.  My concern is the collapse in sentiment in recent weeks due to the fear mongering over the debt ceiling debate and fear of undefined and un-calibrated consequences of a default of Euro sovereign debt.  Jeb Terry, Sr. Aug 17, 2011

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