From: Gary Britt 


You know if Adam and Phil keep predicting the Sun will set, eventually they
will be right.  Not for because of any special insight or understanding on
their part, quite the contrary, it will be merely by coincidence.  Given we
all know that business cycles and economies move in cycles like the
proverbial broken watch they will eventually have to be "right",
but apparently NOT THIS YEAR, AGAIN.

LOL,

Gary

http://www.breitbart.com/article.php?id=D8PO3KI81&show_article=1

WASHINGTON (AP) - Consumers brushed off rising gasoline prices and slumping
home sales to storm the malls in May, pushing retail sales up by the
largest amount in 16 months.

The Commerce Department reported that retail sales surged by 1.4 percent
last month, compared to April, double the increase that analysts had been
expecting. Retail sales had fallen by 0.1 percent in April.

The May strength was widespread with auto dealers, department stores,
specialty clothing stores and hardware stores enjoying an especially good
month.

Sales would have been strong even without last month's big jump in gasoline
prices, which saw prices top $3.20 per gallon. Excluding sales at gasoline
stations, overall retail sales would still have been up 1.2 percent.

Meanwhile, the Federal Reserve reported Wednesday that the economy headed
into the summer with strong momentum, bolstered by consumer spending and a
rebound in manufacturing.

The new Fed survey will serve as the basis for discussion when the Fed next
meets to consider interest rates. With the economy showing signs of
rebounding, most analysts believe the Fed will leave rates unchanged at the
June 27-28 meeting and possibly for the rest of the year.

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