One of my favorite analysts is retail analyst Howard Davidowitz – similarly to Marc Faber, Jim Rogers, and Peter Schiff, he gets disrespected a bit by the financial media who interview him.
A couple of key points from the video:
All retail sales numbers are DOWN year over year. Why are retail sales figures up according to the government? The government’s numbers include prescriptions which the government pays for. As he says “only an imbecile would look at those numbers.”
“The consumer has lost a TRILLION dollars of credit in the last few weeks…and we’re still losing jobs. How does that encourage the consumer to spend more?”
You’d have to be “retarded to believe” Obama’s growth projections
We will double dip like Japan – Davidowitz has a home in Tokyo and says they had SEVEN failed stimulus programs.
He would never trust government data saying you’d have to be ‘retarded” to listen to them. See the video here: