Zero Hedge spots the seasonal adjuster

And we see the retail sales growth is all seasonal adjustment. We also know that we have entered global recession, and we ha e the sudden capital flows from China; all of which make the seasonal adjustment coefficient in error.  And, add in policy changes in the Swamp.

So, all the hoopla about the American consumer simply says the consumer did not cut back as much as expected, and the expectation was likely in error anyway.  Dave Stockman first noticed this problem.