Reporters were busy singing the praises of a current dollar retail sales report claiming growth.
Yet, in True Dollars™, no growth happened. Retail sales continue to be in decline from peak True Dollars GDP, which happened at the end of Q4, 2007.
The picture for autos looks even worse.
As you can see, gasoline sales are up in True Dollars terms. That should make sense to you as Americans have entered the summer driving season.
But hey, when your not-so-friendly neighborhood Fed Res central banker increases the cash in circulation by , in the last , it should be no surprise that everything expressed in current dollars is way up.
And so it is quite easy to have GDP growth expressed in that phony measure, "real" GDP when you have forever inflated chained current dollar GDP.