Shedlock on "unexpected" plunge in retail sales, IMF estimates of toxic debt

[picasso moon]

http://globaleconomicanalysis.blogspot.com/2009/04/retail-sailes-plunge-unexpectedly.html 
Retail Sales Plunge "Unexpectedly",4/14/09.  He also comments on new IMF estimate that toxic debts could (sic) reach $4 Trillion, a forecast that "will come as a blow to governments that have already pumped billions [-actually, trillions-] into the banking system", expecting this to solve the crisis.

[paland]

http://globaleconomicanalysis.blogspot.com/2009/04/retail-sailes-plunge-unexpectedly.html 
Retail Sales Plunge "Unexpectedly",4/14/09.  He also comments on new IMF estimate that toxic debts could (sic) reach $4 Trillion, a forecast that "will come as a blow to governments that have already pumped billions [-actually, trillions-] into the banking system", expecting this to solve the crisis.

This is BS!  We know now that at minimum, there is over 12 trillion in bad paper and we've know this for over a year now. But this yahoo comes and says it could reach 4 trillion??  If it was only 4 trillion, then this would be an easy one to print our way out of.

And ever since the fed "created" that 1.2 trillion, the dollar has retained its value. 

[picasso moon]

To clarify, Shedlock didn't say what you quote, paland, it's a quote from an article that's in the posting. Not sure what your remark about the dollar maintaining its value is about, ie re the Shedlock piece, he doesn't say anything about inflation, he's a hard core deflationist. I'm not an adherent of his, by the way , i do find interesting data in his posts.

[BlueOwl]

This is the correct link.

The word "sales" was misspelled in the original link.

[picasso moon]

Ouch, Thanks,  Blue Owl.