Posted on 10/14/2010 7:06:13 AM PDT by blam
Massive Trade Deficit Raises Prospect Of Disastrous Christmas If Shoppers Don't Come Through
Joe Weisenthal
Oct. 14, 2010, 9:20 AM
This morning the Census Department announced a yawning trade deficit, with US imports from China quickly returning to old ways.
Here's specifically what they said on that:
The goods deficit with China increased from $25.9 billion in July to $28.0 billion in August. Exports decreased $0.1 billion (primarily civilian aircraft, engines, equipment, and parts) to $7.3 billion, while imports increased $2.0 billion (primarily toys, games, and sporting goods; household goods; and computer accessories) to $35.3 billion.
Good news, right?
If Americans are buying toys and games and sporting goods from China, then we're returning to normal.
As the NYT recently pointed out,retailers started making holiday inventory plans months ago, when things were looking more v-shaped (remember that term?).
This number may look like a return to normalcy, but if it's just retailers preparing for a holiday season that will never come to pass, this will be trouble.
[snip]
(Excerpt) Read more at businessinsider.com ...
Don’t blame me, I’m broke.
Waiting to see what happens to the Bush tax cuts.
The EPA, OSHA and other agencies have made business in America impossible.
Sounds like there may be some deals to be had this Christmas.
Well, I for one plan to spend money like crazy the last quarter of this year.
But I won’t be buying toys, games, or home electronics.
I’ll be buying dirt, tractor implements, tools, fencing supplies, pipe, dozer work ...
and guns and ammo.
If shoppers “come through” will they not be buying more Chinese stuff?
This is exactly right. Orders for Christmas are made around March (in retail myself). Summer of recovery was announced, recession ended was announced, 500,000 jobs per month was announced, recovery is all that was talked about. Orders were placed, recovery, jobs, and the recession ending never happened. I have a lot less customers this year vs last year, people are buying less, looking more. Sales that should not be happening right now, are happening because this product ordered in march is now arriving. Most stuff is either 50 percent off or buy one get one 50 percent off, including halloween stuff, which is traditionally not on sale 2 weeks before halloween.
Exactly. And the price controls end under utility deregulation around that time too and most people's utility bills are expected to jump 10%. We are going to have a disastrous Christmas spending season. That, in and of itself, isn't' that bad (I've never thought it was a good idea that the economy depended so much on people buying useless junk at Christmas) but this year it will be yet another sign that the Big 0's recession isn't going to be over any time soon.
More awesome news for BO and the libtards !!
Same here CC. I’m not buying anything. There is NO extra money.
Four years of Democrats in Congress and two years of Barry broke my bank account.
One good thing about a crappy economy is that it forces Christmas back to a more traditional holiday.
Prices have already begun rising and are forecasted to go higher.
Rampant Inflation In 2011? Commodity Prices Are Skyrocketing - Fed Wants To Print Lots More Money
I hear that! We would scrimp and save all year to get the kid stuff on their wish list, we didn’t really get them much all year (small birthday gift each) but christmas was magical. We never took family vacations either (besides camping here and there) to accomplish this.
Now that the kids are grown, this year, one son wanted a gym membership that was 15 per month if you paid in advance for 12 months, so thats what he got, not sure what I am doing with my oldest and youngest sons yet, but I already told them it would be something practical they would need and use. Since this is the first year I have a “daughter” to buy for (my son got married last January) I bought a few pretty things for her, but I get a HUGE discount at my job so I don’t think I spent more than 50 dollars total on her. Many of her gifts were purchased for 1$ each when we had our summer dollar sale :) . I normally would spend between 1500 and 2000 per Christmas on my kids. Now, lucky if I spend 500.
Same boat here. Been Christmas shopping most of the year and nearly finished. Bought “need to” stuff instead of “want to”. Paid cash and spread out the expenses over the last 10 months. Also kept it simple. Don’t want to do nothing for the kids, but we sat them down and explained the situation. Fortunately they are mature enough to understand.
Die starving, parasites.
Don’t feel alone. Our sales are down considerably also. Not only that, shipping charges through UPS have gone up beyond belief. I won’t save much but I’ll ship through the Post Office. As for Christmas, we have cut back a lot and will only purchase products made in the US. Might as well support American companies.
At the risk of hijacking this thread, could I have some ideas for homemade CHRISTmas gifts? I think we’re going cheap-o this year.
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