The pundit explanation I have heard is that consumers put off as long as they could and then spent; now that spending is done. My own guess is some people might have bought the recovery talk for a while & then got real.
On Sun, Jul 11, 2010 at 03:48:23PM -0400, Michael Pollak wrote:
>
> BTW, remember a couple of months ago when we talked about the sudden
> boom in retail?
>
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com