Retail Sales Surprise on the Upside
Feb. 12 (Bloomberg) — Sales at U.S. retailers unexpectedly halted a record six-month slide in January, reflecting higher gasoline prices and more spending on items such as clothing and food. The 1 percent increase followed a revised 3 percent drop the prior month, the Commerce Department said today in Washington. Purchases excluding automobiles gained 0.9…
Feb. 12 (Bloomberg) — Sales at U.S. retailers unexpectedly halted a record six-month slide in January, reflecting higher gasoline prices and more spending on items such as clothing and food. The 1 percent increase followed a revised 3 percent drop the prior month, the Commerce Department said today in Washington. Purchases excluding automobiles gained 0.9 percent. Consumer spending, about 70 percent of the economy, is likely to resume shrinking as the year progresses, according to a separate monthly Bloomberg News survey, capping the longest slide on record. Lawmakers are aiming to shore up the economy with a $789 billion stimulus package that’s designed to create 3.5 million new jobs.
This really drains this website of its last ounce of charm; but at least the know-nothing-ism is out in the open. Dave, your provincialism is astounding. You’re the guy who comes and changes a poor person’s lightbulb when they call you in the middle of the day; and yet you presume to discourse on the issues of the day. L.O.L. I hope your biggest fans on here double down with out, buy some “real cheap” real estate, because here comes that big upturn! You really are a lovely human being. I wish you all the best.
gemeni, ok fine. I was just trying that on. you’re right. and the carbon footprint is totally out of line too. I don’t know — these guys have won an unbelievably competetive game to be where they are, and half of me understands why they believe there should be a prize. but, yeah, they live too large. that kind of crap is bad for the world.
Joe – are you KIDDING ME? Can’t Vikram fly on BA in First? – that costs $12-16K RT VS. firing up the old G4 for a $45K transatlantic trip.
hey gemini — I’m a little over my skiis on the fat mortgage discount thing. There is a lot talk about govt support for writing down mortgages (sheila bair etc) to levels that are affordable based on people’s incomes. Also they could try to force down the mortgage rates by intervening in the markets, and that gives everyone a refi opportunity, if they’re not underwater. I don’t know if any of these are in the new legislation or not honestly, but I think there is a very good chance that there will be direct homeowner aid. Unfortunately, you probably have to have a low income to qualify. I think there is some kind of token tax credit for new home buyers in the bill.
“I know everyone’s mad at the banks, but let’s be fair. the banks didn’t make money, they lost money, tons of it. all of the execs were shareholders and have lost more in their shares than they were paid in bonuses last year. Millions of regular people got pretty new houses, and most of them are about to get a whopping discount on their mortgage. Nice deal for them, I think. If the prices had gone up, would they be sharing that profit with the banks? doubt it.”
Joe I thought there was hope here at Brownstoner, I was wrong…..
The What
Someday this is gonna end…
> “I do blame Suze Orman for a lot of this mess. 2-3 years ago she was pushing everyone and their mama to just BUY A HOUSE”
She probably added the words “that you can afford” to that sentiment, but people forgot to listen to that part.
gemini, vikram pandit has so much money I honestly don’t think he cares if he’s using citi’s jet or his own. I thought it was ordered 2 years ago, with cancellation penalties. they have a fleet that they replenish from time to time — it was probabaly an oversight. they did take their eye off the ball in the last couple of years, trying to manage their financial super-stores, but they’re not THAT dumb.
Besides, put yourself in his shoes. imagine yourself going to visit prince alaweed in saudi arabia to try to get him to invest 5 billion of his own money. you’d kind of look like a chump walking in there all wrinkled up from your all-nighter in coach, don’t you think? (“sorry prince, do you have an iron I can borrow before we discuss the deal?”)
“What- am glad you brought up those disgusting hearings. My favorite moment yesterday was when I believe it was the CEO of Citi saying – “oh, we will return the private Jet that we had purchased AFTER the Feds gave us billions of dollars in aid” – um, HUH? what made you think it was OK to buy a private Jet with that money anyway? I think the days of corportate accountability are over-or at least I am hoping they are.”
No No wait!!! I forgot someone asked the jerkoffs a hard question (Are you insolvent, no BS)! No one wanted to answer that question because the Asshead thought that they was under oath. Barney Frank (I HATE HIM) said ” You are not under oath”, everyone in the room stared to laugh and they proceeded to lie saying “everything is OK”.
Man you gotta love America…
The What
Someday this war is gonna end…
> “hey snark is there a http://tinyWhat.com?”
Of course. Go to any news website. Copy something – anything really – and paste it into a thread on Brownstoner.
Voila.