Keith Springer Releases his Weekly Economic and Market Update

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) July 15, 2010 -- President of Capital Financial Advisory Services in Sacramento California Keith Springer Releases his Weekly Economic and Market Update

Slogging through the mud

SACRAMENTO, Calif. July 14, 2010 – Keith Springer, President at Capital Financial Advisory Services discusses the recent retail sales report for June, credit growth and his prediction for a disappointing GDP figure at the end of this month.

Springer begins by pointing out, “Retail Sales for June were down a disappointing -0.5%. This follows a revised -1.1% decline in May and was less than the consensus estimate of -0.1%. There can be no recovery without a robust increase in retail sales but inflation will remain low.” He says, “Get ready for deflation!”
“Credit Growth, aka lending remains slow gruelingly slow,” Springer continues. “Small businesses generate jobs and banks are reluctant to extend credit to these smaller entities which in turn stifles any progress on employment growth, and the spiral continues. This is a continuation of what I like to call the - Slog through the mud economy. We are climbing up the hill through the mud in a rain storm, and it's getting awfully thick.”

As for future predictions, Springer says, “Get ready for a disappointing GDP figure on July 30th. The government has reduced estimates 3 times already, which is a bad sign. They expect 2.7%. I think it will be more like 2% if we're lucky, which would kill stocks. However that will guarantee deflation which is good for bonds.”
To view more of Keith’s newsletters visit www.KeithSpringer.com and click the “Weekly Economic and Market Updates” link, email Keith@KeithSpringer.com or call (916) 925-8900

Keith Springer is President of Capital Financial Advisory Services, a SEC Registered Investment Advisory Firm, frequently provides commentary and analysis for various global and national media outlets. He has developed a proprietary process for successfully building tax-efficient retirement portfolios and has been providing specialty wealth management services for over 25 years.

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