Economy/Credit/Housing Issues Ping List
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I thought Wall Marts numbers were behind the huge stock market surge two days ago. What gives?
bump
Well then let me go shopping this weekend.
I’m just an average joe, no inside information, and I’m not an economist. Having said that, this is the most concerned I’ve been about the economy in a long time. With gas headed to $4/gal, it will take $80 to fill up most cars. Couple that with increases in home heating, and disposable income goes away fast.
I think fuel costs, thus price hikes in most necessities due increased shipping costs are taking too much otherwise expendable cash out of the pockets of Americans to the point they aren’t purchasing non essentials as they otherwise would. Oh yes some still prioritize their “Big Gulp” at the Convenience Store and feed the kids “Sugar Pops” rather than purchase quality foodstuffs, but that is a different matter isn’t it (The latter in anticipation of some asinine Contrarion as has been showing up at FR recently).
This causes me to anticipate a boom/surge in internet retail sales this Christmas Season.
“We’re in a very difficult selling environment,”
They say that every year, to downplay expectations.
It’s not even Thanksgiving yet. Snow forecast for the Midwest on Thanksgiving, will get the shopping sentiment fired up.
Sales are up, just not as much as they guessed.
- Target Corp (NYSE:TGT - News) same-store sales rose 4.1 percent
- Costco Wholesale Corp (NasdaqGS:COST - News) and BJ’s Wholesale Club Inc (NYSE:BJ - News) reported better-than-expected sales
- Wal-Mart reported a lower-than-expected 0.4 percent rise in monthly same-store sales at U.S. stores
- Saks Inc (NYSE:SKS - News) posted a better-than-expected 10.6 percent sales rise.
- Neiman Marcus reported an 8.5 percent increase in same-store sales revenue.
Sounds to me like the “more hurricanes this season” crowd. Considering the record spending over the past few years - Congress included - why shouldn’t we expect a bit of economic cooling - Congress excepted?
I spend my retail dollars on imported oil products.
This is a good time for the blessed to stock up on children’s coats and clothes to donate in the coming season.
You ain’t seen nothing yet, if Hillary wins!
If Penney’s and other retailers are concerned about declining sales, they should lower prices.
“psychological effect of fuel prices” for eroding Penney’s profit and sales last quarter.
Psychological my foot. My fuel prices have more than doubled. The credit card companies are tightening up minimum payments... and my local taxes have skyrocketed.
And this genius couldn't see this coming?
I walked into Costco on Tuesday evening and the place was vacant at 7pm! I joked with a stocker and said where is everyone? He said it has been like this for a few days.
I’ve been waiting to read these declarations since last year. You could see it coming between the crash in home prices and the resulting death of MEWs. It took the complete meltdown of liquidity after the financials FINALLY had to admit their losses in August before the talking heads on the financial shows would admit to the very real probability of a recession following the death of the US debt-driven consumer that is responsible for 70% of GDP.