Sales are still falling with increasing unemployment.

Discussion in 'Economy' started by Neubarth, Sep 3, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Sales are still falling with increasing unemployment.

    Retailers report sales declines for August

    Retailers say August results fall as shoppers hold back on back-to-school purchases

    * By Mae Anderson, AP Retail Writer
    * On Thursday September 3, 2009, 8:13 am EDT
    Retailers report sales declines for August - Yahoo! Finance


    NEW YORK (AP) -- Retailers on Thursday posted sales declines for August as shoppers held back on back-to-school purchases and continued to focus on necessities, raising further concern about the upcoming holiday season.


    Early reports showed six retailers missed analyst expectations while three exceeded estimates, according to a poll by Thomson Reuters.

    As analysts look for signs of a recovery amid the recession, consumer spending is closely watched because it accounts for about 70 percent of economic activity. Thursday's results didn't offer much evidence of a comeback.

    The teen sector was weak as back-to-school sales failed to take off. Hot Topic Inc. sales in stores open at least a year fell 8.1 percent, a bigger drop than the 6.9 percent predicted by analysts....
     
  2. editec
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    editec Mr. Forgot-it-All

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    Of course consumer sales are falling.

    The unemployed are scrambling for their lives, the underemployed, likewise.

    The still employed are socking away as much money as they can for when they might get the axe.

    This is a CLASSIC vicious cycle of a deflationary depression.
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    We may have reached the point where we are in a never ending cycle in our dominant service sector economy. As more and more people are laid off and unemployment increases (regardless of the government lies to the contrary), there will be less spending which will result in more layoffs and the cycle continues to repeat.

    Years and years ago when I first started warning of the Depression to come, I likened the Service Sector collapse to a slow motion house of cards collapse. It appears to be happening card by card by card.
     
  4. Neubarth
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    Neubarth At the Ballpark July 30th

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    You are SOOOOOOOOO RIGHT! Hang on tight, it is going to be a rough ride.
     
  5. mascale
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    mascale VIP Member

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    In the attachment below, Personal Consumption is not only recently rising, but the revisions of the previously announced figures also show bigger increases than were originally announced.

    News Release: Personal Income and Outlays, July 2009

    Pricey stores are apparently not doing as well, and in another thread: Not only the poor have been getting poorer, but the rich have been getting poorer too.

    In fact, even Bernie Madoff knows this!

    Last month, analysts were claiming that any increase of school-time buying would kill off the year-end sales. Now the analysts are claiming that the slower than usual school-time buying portends even more evil for the year-end sales seasons.

    It is for this reason: That body odor gets banned from the busses!

    "Crow, James Crow: Shaken, Not Stirred!"
    (And so the recently regarded "perfected" people are getting more back to basics--more in line with compliance with the newer laws of freedom! The English have long understood this, with rules about leaving one's arms raised in public places.)
     
  6. froggy
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    froggy Gold Member

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    if you don't have a job to make money ,you can't spend it.
     
  7. mascale
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    mascale VIP Member

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    If you don't have a job to make money: You forget that there are still Ivy-League educated mortgage-lenders out there!

    The money is. . . .back, and everywhere!

    "Crow, James Crow: Shaken, Not Stirred!'
    (Something about the affinities of Sweden, for the less than perfected people: Just somehow keeps coming to mind! They gave them money and prizes, you know--where they are found in the Ivy League schools--in apparent abundance! It just somehow can't all be guilt-money!)
     
  8. bugs
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    bugs Senior Member

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    just wait.. the green shits are gonna grow fast SOON!!!:clap2::razz:
     
  9. Neubarth
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    Neubarth At the Ballpark July 30th

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    As soon as the Fed took interest rates down to ZERO, there was no end to the money availabliity. The BIG BANKS started refinancing right away, but knew that they would have to have help to get the mortgages approved, so Freddy and Fanny were instructed to take any and all mortgages issued after January of this year by the Big Banks. (Screw the small banks. Let them eat cake!).

    Talk about the potential for further default! I refinanced my mortgage at 4.375% and know even smarter men than me who got lower rates. You had to be alert to what was happening and refinance at the right time. The Big Banks are still refinancing and making billions off of the effort (Points, you know.).
     

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