Ali Velshi of CNN talks with MarketWatch’s Jon Friedman about what has gone wrong with the markets and whether they’ve hit bottom. Velshi, the author of “Gimme My Money Back,” focuses on the crisis in confidence.
1/14/2009
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...
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January 14th, 2009 at 4:38 pm
Committed buyers…didn’t Jimmy Carter free all those buyers who’d been committed during his term as president?
:)
January 14th, 2009 at 4:39 pm
Perhaps the problem is the opposite…too many committed sellers?
January 14th, 2009 at 9:26 pm
Hand this guy a dunce cap. The housing market is nowhere near the bottom. Obama is going to be in the same boat as Bush in the end…blamed for an economy that he had nothing to do with.