On the day Apple reported 14 million iPhones were sold last quarter to go with over 4.2 million iPads, Economist Nicholas Colas was discussing more obscure but equally interesting data on CNBC.
First time gun sales have been rising over the last three months though ammunition sales are flat. People are buying guns, but not spending a lot of dough at the range. He found this info by monitoring FBI background checks.
Gold coin sales have leveled off over the past 6 months, but silver coin sales have been soaring. His guess is that gold’s high cost has pushed people fearful of paper money debasement into the less expensive silver.
Food stamp usage is rising monthly as are the Google searches on how to apply for them.
Used car prices are steady, with demand growth stagnant and supply fairly constant.
These are all indicators according to Colas of weak consumer demand and a lot of fear in the population.
Question: Which indicator is more significant to you, iPhone mania or food stamp reliance?
Indication of Confusion