Posted on 08/14/2007 12:10:24 PM PDT by Post-Neolithic
NEW YORK (MarketWatch) -- U.S. stocks fell after Wal-Mart Stores Inc., the world's largest retailer, lowered its earnings forecast and a futures broker moved to stop withdrawals, exacerbating worries about a credit squeeze. "It is a problem in the asset-backed commercial paper market that is causing the new concern now - that is the new leg to drop," said Peter Bookvar, equity strategist at Miller Tabak.
(Excerpt) Read more at marketwatch.com ...
Exactly. More like 3-4 DAY loans.
Walmart managed to Tick off a sizable portion of their customers this past year with some bad ideas. They Ticked off Moms by taking out crafts. They ticked off dad by in some places taking out guns. They ticked off Dad by reducing hardware department as well as outdoor power equipment accessories inventory even on such high volume items as weed eater string. When you go there several times wanting 150 or 350 feet of weed eatet string and all they have is a large giant roll it isn't hard to see what they are doing to you.
They Ticked off Mom and Dad by closing down Layaway which was one of the bigger things many counted on at Christmas and pushing Credit which is not a Conservative value as such. It is not a conservative value especially to encourage those who can to afford it to go in debt which is a high percentage of their customer base.
They ticked off people even more with Merchandise Roulette in may stores with Lowered Inventory. They did this in many stores by eliminating an entire shelf level store wide. The now never ending illogical moving of non seasonable items every other week to where items are hard to locate forcing customer to take longer and making customer who just wanted a box of Bandages for Junior bleeding at home angrier is yet another reason sales are down. Some people are in a hurry and Walmart has 4 lines open in a Super Store three of them waiting on Members of Management for Voids or a price check or argueing with Coupon Lady.
It isn't really a conservative thing it is Walmarts we'll do to you as we please where else can you go now attitude which has angered many folks including myself. Walmart lost over $125 of my business this month alone because of stocking and inventory not being able to locate needed item issues. Don't ask the clerks. They move the stuff so many times these days they don't know either.
Any chance you live in/near Prescott, AZ?
Contrary to popular belief, the depression did not end with government intervention, it ended with WWII. Oh and thanks for the nick, Sparky has a nice ring, I like it.
I don’t know who said it, but it is from someone in the 1920s, before the market crash. The story goes a stock broker took some person to a yacht club, and showed him all of the broker’s yachts. The person then asked the famous question: “Where are the customers’ yachts?”
True. Took care of the unemployment and got the factories going. Maybe the draft is coming after all. But the market is moving with the news, yesterday good, today bad. Keep tuned, news at 11.
Only if you are spending your money on goods imported from countries who's currency has not also fallen.
While the dollar has fallen, and fuel costs have risen, inflation has not skyrocketed.
People's incomes continue to rise faster than inflation. Yet somehow some people keep saying that we are somehow becoming poorer. People's buying power keeps increasing, yet some keep saying we are getting poorer. I'm having a bit of trouble understanding that reasoning.
Not on this board. It's illegals, wal-mart or Bushes fault here.
One of the biggest reasons the depression lasted so long was neither Hoover or FDR wanted to have a budget deficit. And in FDR's case he had to pay for all the new government programs with taxes.
I will either be seen as brilliant or stupid for turning 80% of my ROTH into cash last Friday....
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Today I sold the last of my miniscule holdings, a pink sheet stock that has gone up for better than a triple in the past 90 days. It had been going up faster and faster until today and it dropped back a little. I took that as a sign to get out. If it takes a big drop as I expect it to I may buy back into it later. I got slaughtered back in 2000 and I don’t want to die again, it hurts!
The dollar is down about 40% over the last 5 years - the Dow would have to be up 66% over that time frame to stay even.
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Wouldn’t life be more pleasant if we could just ignore troublesome little things like facts?
You’ll only be 80% brilliant or 80% foolish.
I definitely sold too soon but Jesse Livermore claimed that was how he made a fortune, “I always sold too soon”. I can say from experience it beats holding too long.
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