Gov’t Shutdown Causing Economic Sodom and Gomorrah (Retail Sales Down 16.4% MoM, St Louis Fed Q2 GDP Down To -48.7%), Stock Market Shrugs

April’s economic numbers reflect the damage caused by the shutdown of the economy thanks to the pandemic.

Retail sales advance dropped 16.4% from March, Industrial Production declined 11.2%

ecoyikes

The St Louis Fed Economic News Index is showing -48.07. Let that sink in for a second.

stlfedgdp

Industrial production is down 11.2%, the largest decline in modern history.

tumbling

But the stock market just shrugged off the news.

stocksdump

Yet we rely on government to save us … when the government shutdown at state levels is causing the economic Sodom and Gomorrah.

600px-John_Martin_-_Sodom_and_Gomorrah

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