Jump to content

A Dog's Life


Recommended Posts

  • Replies 239
  • Created
  • Last Reply
Guest bullseatshitndie
Someone please ask him why and how the consumer has a prayer, with the debt levels on the moon?

they have no fornicateing prayer.

 

that statement must be saved because when consumer get the hose up the rear from these high rates it s/b presented to him

Link to comment
Share on other sites

Greenspan: Soft consumer spending shld be "short-lived

Yeah right.

 

Some economists warn that if wages remain depressed for a long time they may end up weighing on the economy. "The recovery will likely continue on despite the travails of lower-income households, but it cannot flourish," Mr. Zandi said.

 

So far, spending has been fueled mostly by debt, as consumers took advantage of bedrock-low interest rates to whip out their credit cards and refinance their mortgages. But as interest rates rise to keep inflation in check, continued growth in consumer spending will depend more on jobs and wages.

 

Spending is still holding up, led by strong corporate profits as well as higher salaries and bonuses at the upper end of the income distribution. But the lagging earnings at the bottom end are making for a somewhat lopsided expansion.

 

But at the other end, sales at stores open at least a year at big-box discounters like Target and  Wal-Mart have disappointed, while sales of used cars are declining year over year, government figures show. "We're not seeing the traffic, not even the same volumes of sales calls," said Richard Cooper, a sales manager at Jones Ford in Charleston, S.C.

 

Hourly Pay in U.S. Not Keeping Pace With Price Rises

http://www.nytimes.com/2004/07/18/business/18WAGES.html

Link to comment
Share on other sites

Happened to be listening to Bloomberg radio in the car, from 1:00 to 2:00 p.m.

 

They had a whole featurette on "second homes and vacation homes."

 

The enthusiastic interviewees claimed that baby boomer demographics would drive this sector of the real estate market relentlessly higher. Record sales volume, strong appreciation, immunity from down cycles in the regular single-family home market.

 

As you would expect, there wasn't one word about risk ... interest rate risk ... recession risk ... the risk of being the clown that buys at the peak of an overheated market.

 

No, it was all just one pimp-strutting, booty-shaking bullish infomercial for the borkers and banksters who paid for it.

 

Objective financial "journalism"? You won't find it on the Bloomberg pimpster/shill network.

Link to comment
Share on other sites

I do not mind the mkt having a bounce, but it pisses me off to no end to think that folks are so stupid as to believe a anjything coming out of the grand statist's mouth. The guy is fricking pschopath, why does anyone even listen?

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...