Wednesday, May 22, 2013

The tax season halo is off.

Today I was reading Forbes tell me Stocks Are On Solid Footing and This is No Bubble. Seriously.

This of course made my eyebrows narrow. I had to laugh at the Fed trying to convince us they were going to start tapering by summer. Almost everything in the economy tells me we are headed into deflation. Don't believe me. Believe Target and Walmart.

Target just reported their first quarter sales dropped 29%. That is a lot of percent! Sales at Walmart fell 1.4%. Mortgage applications fell 4.7%.

How is that you say? The mortgage market is almost back to normal. Houses are selling within a months time with multiple offers. This is the part where I shrug.

Now we get to see what the economy really looks like. Tax season is done. Or almost done. I filed pretty much at the late end and I still have one check to receive. So the halo effect from tax time is pretty much over. Party on.

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