Posted on 08/09/2010 7:16:57 AM PDT by blam
L.A. Ports Already Forecast An Awesome Christmas Season
Vincent Fernando, CFA
Aug. 9, 2010, 6:14 AM
Los Angeles port volumes continue to rebound, and the ports themselves believe that this could signal a strong holiday season in the U.S. this year, or at least stronger one than last year's:
Hellenic Shipping News:
“I think we’re seeing the imported goods and the containers like what you see here obviously filled with holiday items and we’re seeing those in larger numbers,” said Richard Steinke, the executive director of the Port of Long Beach, which sits on a complex alongside the Port of Los Angeles.
...
“We’re still a little cautious about how sustainable it is but from hearing from the retailers and some of the importers it sounds like we’re going to see that sustained business at least through the end of this year,” Steinke said, responding to the idea that this could be a byproduct of companies restocking their inventories and taking advantage of cheap goods, rather than a sign of economic recovery.
Mr. Steinke is cautious to proclaim a strong holiday season, but so far things appear to be trending in that direction. We believe the outlook is still pretty mixed in regards to the U.S. consumer, though this latest L.A. ports view is something to keep an eye on going forward.
Nevertheless, Mr. Steinke also believes the U.S. trade balance could improve due to Asian consumption of higher-value U.S. products.
“You’re going to see agricultural products that really start to move in greater quantities, in larger numbers, and that really benefits those consumers, and it really improves the balance of trade,” Steinke said in relation to Asian exports starting to catch up with imports. “The higher value exports are now moving to those nations
[snip]
(Excerpt) Read more at businessinsider.com ...
“
Went to the mall yesterday and had to park across the street, again.
Second weekend in a row.
“
Same here in Columbia MO.
The late, great Paul Harvey would comment on how the unemployment rate
in Columbia was 1% back in late 1990s.
It’s not so good now, but if you drive past the major shopping center
(Columbia Mall) or places like Olive Garden...PACKED.
But I guess this shouldn’t be so suprising as Columbia lives on
the money distributed by the Federal and state guvmints.
That is to say, we have the major university (University of Missouri) and
private schools (Columbia College, Stephens College, etc.) propped up
by federal dollars.
Along with our large VA hospital complex (which I’m not opposed to
except for the over-large salaries paid to some of the staff).
Recession, what recession is an understandable comment on our local economy.
And the beneficiaries of the Federal cash infusions should thank their
lucky stars for the sacrifice made by taxpayers from other states!!!
With a 170 year drought on Russian soil, it doubtful that they could meet demand in their own country.
removing ‘ban’ merely symbolic.
As things continue to worsen under Obama, the MSM spin machine is in high gear with November just around the corner.
And this is just from what Michelle Obama is planning on buying this year! She has at least 40 close friends to shop for, you know.
You're in California... We see the same thing in our area of CA....Everyone tell us everyone moved out, and all the businesses fled, yet I see no damn differences....lol...Of course, the out of staters will tell ya all these people are illegal aliens....
I love it!!
By the way, it was foggy this morning and calling for a high of 74 degrees and sunny....In August! Been like this all summer...Not complaining though...lol...
How is the grain situation in the US?
Fortunately for her, she has your checkbook...she won't run out of money for all her friends.
I read a FReeper comment on another thread that we were going to have a bumper wheat crop...don't know how true it is.
I've read the same --- it's even mentioned in one of my links in posting #20 --- but I haven't looked at it otherwise.
I had noticed the Russian fire story only today although it apparently has been going on for a while, and realized that it was likely tied into last week's mention of the wheat export ban.
It’s going to a particularly crappy day up here. /s
This Globull Warming Crap has got to be dealt with.
Weather is just spectactular, mildly warm and Thank God. I don’t care for heat.
If we are moving into Globull cooling, works for me.
More snowboarding.
No thanks, I’m making mine. Quilts for the kids and grand kids. 2 more to go and I’m done.
Baltic index rises, capesize market rallies
Christmas could go well. I'm worried about everything going pear-shaped after New Year's.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.