Posts filed under “Financial Press”

Retail Heading Towards Biggest Wreck in 17 Years

Just a brief reminder: there have been numerous idiots insisting that the consumer was just fine, and this holiday season was free from problems.

As it turns out, that view is, um, slightly off:

"The retail industry appears to be skidding toward its first big wreck in 17 years.

Chains are slamming the brakes on store openings, cutting back on inventory and girding for leaner times as consumer spending chills. The speed with which sales slowed during the holidays caught even cautious retailers off-guard, prompting a flurry of profit warnings.

And while data on December consumer spending won’t be released until the end of the month, plummeting sales suggest consumers are snapping shut their pocketbooks."

Please note who these data-free, reality-challenged, no-nothing money-losing pinheads are. You’ll see them spouting the same bullshit next cycle, too. How wrong do you have to be before you get banned from TV?

Sources:
Retailers Sink Into the Doldrums
GARY MCWILLIAMS and AMY MERRICK
January 18, 2008; Page B1   
http://online.wsj.com/article/SB120061830348699259.html

Category: Consumer Spending, Financial Press, Retail

Arthur Laffer: US is in Recession Now

Category: Economy, Federal Reserve, Financial Press, Inflation

Fox Business Channel Market Top ?

Category: Contrary Indicators, Financial Press

Cramer Rant, Version II

Category: Financial Press

Bernanke: Fed Must Avoid Greenspan Errors

Category: Federal Reserve, Financial Press, Politics, Taxes and Policy

Fast Money 1ST Anniversary

Category: Financial Press

Free Economist Trial Subscription

Category: Financial Press

And The Winner is . . .

Category: Financial Press

Mid January Linkfest: Review / Preview

Category: Financial Press

Tyler Cowen: “Predatory Borrowing The Bigger Problem”

Category: Credit, Economy, Financial Press, Real Estate