Forecast: Scattered recession, with defaults gusting up to 40% !
Hat tip: Gary!
Source:
European weather map
FT, October 20 2008 21:35
http://www.ft.com/cms/s/0/3af6c64c-9eb6-11dd-98bd-000077b07658.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
read more »
Tweet
Facebook
Reddit
Digg this!
October 23rd, 2008 at 12:26 pm
Hmm, can`t find our country on the map. Weird.
It should be next to Austria, Hungary and Italy.
Really weird. I hope we were not wiped out. Let me check. No, I am still alive and kicking,..
October 23rd, 2008 at 12:26 pm
Hmm, can`t find our country on the map. Weird.
It should be next to Austria, Hungary and Italy.
Really weird. I hope we were not wiped out. Let me check. No, I am still alive and kicking,..
October 23rd, 2008 at 12:27 pm
Hmm, can`t find our country on the map. Weird.
It should be next to Austria, Hungary and Italy.
Really weird. I hope we were not wiped out. Let me check. No, I am still alive and kicking,..
October 23rd, 2008 at 12:37 pm
I thought Sweden and Switzerland was the same country?
October 23rd, 2008 at 12:50 pm
The situation isn’t good. CNBC goes from octobox to 10 boxes!
http://i34.tinypic.com/2wg816r.jpg
October 23rd, 2008 at 12:52 pm
http://www.newsweek.com/id/164878
Apparently
“The more Starbucks a country has, the bigger its financial problems.”
October 23rd, 2008 at 1:06 pm
Hmm. Sorry about the multiple comments. Not sure why it posted it so many times. I screwed up something I guess :)).
October 23rd, 2008 at 1:27 pm
Can someone explain the difference between bottom-up and top-down earnings for S&P 500? Also, does anyone know why Shiller uses top-down earnings for his valuation calculations, as opposed to bottom-up?
October 23rd, 2008 at 1:46 pm
Needs more cat 5 hurricanes and F5 tornadoes.
October 23rd, 2008 at 1:58 pm
ALI- “The more Starbucks a country has, the bigger its financial problems.”
Your quote reminded me of the tech bubble when we counted how many Herman Miller Aeron Chairs a company had to determine which ones would bust. Any company foolish enough to buy every employee a $1k chair obviously lacked good financial decision-making skills.
I guess the same can be said for a country with enough idiots to pay $4 for a cup of coffee.
October 23rd, 2008 at 2:01 pm
How about this weather map of people on the street here…wow are they out of touch or what?
People nervous now, but expect economy to improve
Buzz Up Send
Email IM Share
Digg Facebook Newsvine del.icio.us Reddit StumbleUpon Technorati Yahoo! Bookmarks Print By ALAN FRAM, Associated Press Writer Alan Fram, Associated Press Writer – 1 hr 29 mins ago Play Video ABC News – Recession Map: Best and Worst States
October 23rd, 2008 at 2:10 pm
“The more Starbucks a country has, the bigger its financial problems.”
Another disturbing economic indicator is that Starbucks is now serving … oatmeal.
When they switch to cold gruel, we are so screwed.
October 23rd, 2008 at 2:23 pm
I was in the Czech Republic, and Poland a year and a half ago, and believe me those people will be able to handle any down-turn better than us pussies in the U.S.
October 23rd, 2008 at 2:27 pm
OK, I’m trying to use a little “tough love,” but really people does anyone realize how inept we’ve become in the area of basic servival? I mean: I can’t live without a cell phone, xbox???????? c’mon.
October 23rd, 2008 at 2:35 pm
Tomaz, I was a bit disappointed that I couldn’t find the economic weather for Slovenia either!
The Starbucks theory article made me laugh.
Is anybody else reading The Great Gatsby right now?
October 23rd, 2008 at 2:38 pm
Hmm, according to Eurostat the British unemployment rate in 2007 was 5.3%. How did the FT get to 2.8% for 2008?
Same for Romania. 6.4% in 2007 according to Eurostat. And only 3.6% in 2007?
And Tomaz, Belgium doesn´t seem to exist anymore for the FT either. How sad. :)
October 23rd, 2008 at 2:58 pm
i’d say typical seasonal weather.
and of course there is no room for miniscule states on the map. do not whine!
October 23rd, 2008 at 3:12 pm
Okay, I am teh stupid here, but doesn’t Europe use a different standard measure of unemploymen than the US? And don’t different countries use different ones?
Can we compare these directly to our own?
October 23rd, 2008 at 3:58 pm
Hey there are missing Belarus which just ask the IMF for help. Funny stuff!
October 23rd, 2008 at 7:21 pm
The figures for Ireland are nuts. Goodbody’s are predicting a -4% GDP number for 09 after a -2.5% for 08