Peter Navarro Discusses Why Retail Sales Growth Exceeds All Wall Street Projections, and Prices Continue Dropping - The Last Refuge

The Census Bureau report, yesterday, highlighted that consumer sales remain strong at +0.6% – significantly higher than all economists forecast - Sundance

• Retail sales growth is important, because approximately two-thirds of the U.S. GDP growth is driven by consumer sales. 
• With inflation low, retail sales high, and with a previously reported drop in U.S. imports, the ¹second quarter GDP is likely to be much stronger than anyone previously predicted...

This is essentially a repeat of the 2017/2018 economic outcome from President Trump’s first term in office. 

• The tariffs, which are applied to the ‘cost’ side of the dynamic, are mostly being absorbed by major producing nations who are reliant upon export to the U.S. market. 
•  Simultaneously, the tariffs are generating income – essentially exfiltrating foreign wealth and returning those funds to the USA; a complete reversal of the rust-belt dynamic...