Consumer Retail Collapses - New England Patriots Forums

***NEPatriot*** · 01-14-2010, 12:01 PM

FRB: G.19 Release--Consumer Credit--January 8, 2010

Quote:

Consumer credit decreased at an annual rate of 8-1/2 percent in November. Revolving credit decreased at an annual rate of 18-1/2 percent, and nonrevolving credit decreased at an annual rate of 3 percent.

http://online.wsj.com/article/SB1000...NewsCollection

Quote:

U.S. retail sales unexpectedly fell in December from the previous month, signaling restraint by consumers during the holidays as the economy wrestles with high unemployment. Meanwhile, the number of U.S. workers filing new claims for jobless benefits defied expectations to show an increase last week, although a drop in the four-week moving average showed claims are still trending downward.

Retail sales declined a monthly 0.3% in December, the Commerce Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast a 0.5% increase. November sales, however, were adjusted upward, to a 1.8% monthly increase from a previously reported 1.3% gain.

PatriotsReign · 01-14-2010, 02:06 PM

Quote:

Originally Posted by NEPatriot

FRB: G.19 Release--Consumer Credit--January 8, 2010

Retail Sales Fell in December - WSJ.com

This is exactly why we'll see another fairly dramatic drop in the stock markets. Time to shift you investments if you're getting close to retirement. Stocks never should have gone back up so quickly, but that's the old reaction from the BOOM years.

Eventually, we'll see much more restrained investing for the long term. Why? Because there is nothing to get excited about investment wise.

Real World · 01-14-2010, 04:56 PM

I hope we dont see a double dip. I need things to pick up soon. I've got empty space I need to lease.

PatriotsReign · 01-14-2010, 05:08 PM

Quote:

Originally Posted by Real World

I hope we dont see a double dip. I need things to pick up soon. I've got empty space I need to lease.

We all should be hoping we don't see a double-dip. But I don't see how it can be avoided. The number of people unemployed is way above 10%. As they become disheartened and give up or no longer collect unemployment or when we see former executives working part-time at a fraction of their former salary, they are no longer "counted" as officially unemployed.

The longer unemployment remains at 10%, the higher the REAL number of unemployed and under-employed workers we will have. For example, if unemployment is still 10% 6 months from now, the real number of unemployed Americans will actually grow significantly.

The gov't SHOULD have been using the U-6 definition of unemployment all along.

***NEPatriot*** · 01-14-2010, 06:11 PM

Quote:

Originally Posted by Real World

I hope we dont see a double dip. I need things to pick up soon. I've got empty space I need to lease.

Double dip is happening.
U.S. Chamber warns of 'double-dip' recession because of Dem policies - TheHill.com

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U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.

“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s a sure-fire recipe for a double-dip recession, or worse,” Donohue said in a speech providing the Chamber's outlook for 2010.