Correlation and Causation Deniers, Chickens and Eggs

This post is for those fond of repeating the axiom “correlation does not imply causation,” because while correlation may not prove causation, it certainly can imply it. In fact, there are instances where the denial of any linkage between correlation and causation proves only that the deniers have their heads in the sand.

Retail Sales Not As Bad As They Said, On the Other Hand, They Were Worse

On the surface, the January retail sales report released on February 13 doesn’t look so bad, in spite of the hysterical headlines about the big “miss” because of January’s bad weather. Street economists had a consensus guess that the seasonally adjusted headline number would be unchanged from December.