Retail Spending Remains Totally Boring

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The Wall Street Journal reports that US shoppers “splurged” in July:

American shoppers gave the U.S. economy a solid boost in July, a counter to weakness in the manufacturing sector and Wall Street jitters about faltering growth….The robust report—the strongest reading since March and a sign that American consumers remain a source of fuel for the economy—is a positive signal for the U.S. amid warning signs of a global economic slowdown. U.S. stocks stabilized after release of the sales figures.

That’s good news, I suppose, but you might want to keep your excitement under control after you see July’s increase in context:

Retail spending has been almost eerily rock steady for years. There was a brief drop in late 2018 and then a brief uptick in the spring to get back on track, and that’s about it. Retail spending in July was precisely where you would have predicted back in 2015 if you just drew a straight line. It’s good that consumer spending didn’t plunge or anything, but July’s figures were hardly a sign of a US-led splurge.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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