If one ignores all traditional, staple indicators of a growing economy, such as stable (not plummeting) crude demand, stable (not plummeting) holiday spending and stable (not plummeting) McDonalds comp store sales, then indeed the US economy has “decoupled” from the rest of the world, and those who wish to demonstrate the same intellectual capacity as Tim Geithner, will welcome you to the (latest non-)recovery.
And yet for those, who are leery of seasonally-adjusted government data (showing soaring low-wage jobs offset by crashing employment in the energy sector and M&A synergies which mysteriously are never captured), or sentiment surveys and confidence polls (of Wall Street executives and government workers), here is the latest data from McDonalds. Showing the worst US comp store sales in nearly 12 years at -4.6%, one does wonder if following America’s inability to even pay for sub-$1 meals, mass starvation will follow?
McDonalds US comp store sales:
McDonalds global comp store sales:
And for all those who are blissfully ignoring the impact of the soaring USD on corporate profits, here is a wake up call from McDonalds:
The following items are expected to negatively impact fourth quarter results
- $0.07 to $0.09 per share due to strengthening of the U.S. dollar against nearly all foreign currencies
But… but… lower oil prices!?