Thursday, August 12, 2010

Expect A Surge Of Retail Bankruptcies? Consumers Are Broke

PRINCETON, NJ -- Americans' self-reported spending in stores, restaurants, gas stations, and online averaged $62 per day during the week ending Aug. 8. Early August consumer spending trends trail 2009 and will need to surge to match last year's anemic back-to-school results.
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Self-Reported Spending Implies Weak Back-to-School Sales
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Gallup's consumer spending measure averaged $68 per day in July compared with $67 per day in June. This is consistent with the "mixed" chain store sales reported in July and the consensus expectation of a 0.2% increase in retail sales, excluding auto sales, when the Commerce Department reports on Friday. Retail sales is a broader measure -- it includes the total receipts at stores selling durable and nondurable goods -- than Gallup's spending measure, which is more oriented toward discretionary spending, but the two measures often trend together when auto sales are excluded.
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40% Of U.S Professionals Don't Get It (There are No Jobs)
They want to quit!
They’re tired of not being promoted, bosses that don’t share company goals and being overworked, the survey found.
More Here..

23 comments:

  1. I would love to know where the hell these idiots get their numbers. $62 bucks a day?
    Damn buddy; that's over 20 grand a friggin'
    year on non essentials.

    And the economy is in shambles ?

    WTF

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  2. The "Garden Walk" is an open air shopping and dinning center across the street from Disneyland in California. I visited it for the first time today. It's been open a little over 2 years.

    - The movie theater went bankrupt in the first year of operation.
    - I would say that 50% of the stores were vacant.
    - Mrs. Field's Cookies was closed
    - The "Fire and Ice" was open for lunch. There were 2 tables occupied in this huge patio area. There were no customers I could see inside.
    - Johnny Rocket Burgers had one table occupied.
    From the top level, I could see all of the ground level. I could honestly count perhaps 20 people in all, walking around.

    >>> This is across the street from Disneyland in the height of the summer tourist season! <<<

    Disneyland attendance is down 4%.

    This Garden Walk will be a complete ghost town in a matter of a few short months.

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  3. Disneyland is one of the top tourist destinations in the world. If they are hurting, this country will be in a world of hurt real soon.

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  4. Sad. The United States may lose its huge lead as having the GREATEST number per capita of imprisoned citizens of any nation on earth...more than China, Russia, and all the nations we look down our noses at and lecture on the virtues of liberty and problems of human rights abuses. It's just sad, is all.

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  5. Who cares about Disney, they outsource some of their illustrator/artists jobs to India.

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  6. This quote from the second link about professionals made me laugh.

    “Bonuses and job perks were cut back to weather the storm, but as the economy picks up, employees will be flocking to businesses that promise them better conditions and not necessarily the biggest salary.”

    But as the economy picks up? What's this guy smoking? The economy's not going to pick up, you moron, it's only going to tank further. Those days are over. These professionals might want to take up gardening instead of looking for another corporate job, or opening their own business. Gardening vegetables, that is.

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  7. They want to quit? These people are out of their minds. The economy is collapsing. There are no jobs.

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  8. "Who cares about Disney, they outsource some of their illustrator/artists jobs to India."

    I suspect disney has made a few bucks over the years out of india in movie DVD and mickey mouse doll and t.shirt sales in India,
    and a few bucks in america from the work of indian artists/ilustrators in america too.
    Get over it!
    Stop your unpatriotic anti-american anti free trade whining and enjoy your food stamps.

    Pay attention to the real world not dreams and wanking fantasies . Is that a drawing pen you are playing with in your hands?
    Indians are good at mathematics and computors.
    Havemt you noticed capital has
    de-industrialised america and the high waged services and computor jobs are now going too.
    your lord Capital giveth and taketh, but mostly it is true taketh.
    Thats free trade capitalism -if you had the foresight to invest in american Disney patriotism shares you might be still making a buck now.
    These jobs do not belong to Americans by divine right or divine White.
    The are not American jobs.
    The jobs belong to their owners -in this case Disney and its american and multi-national owners.
    There are less profits, or nill profits
    to be made by employing overpaid american labor aristocrats.
    This is a triumph of American culture and its free trade system.
    What are you?
    An -anti capitalist socialist luddite?

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  9. "Damn buddy; that's over 20 grand a friggin'
    year on non essentials.

    And the economy is in shambles ?

    Are not the rich and middle classes spending now ?
    The poor must spend all their incomes on necesities and rents.

    in the Great Ponzi ,since Reagan, the Americans beleived in the trickle down economics, that the spending of the top 10% ,that got the bulk of the profits ,buying foreign goods and american services, would keep all the rest of the americans living on credit in Mc Mansion clover.
    The rich even got tax cuts to encourage their spending.
    Now its not working out?

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  10. Who is ready for the big collapse? It is coming by year end!

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  11. Market's going to rebound big today. Get in before the huge spike.

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  12. lol wtf? 4:49

    I've become comfortably numb. I listen to that Pink Floyd Song and think of the country.

    LOL!

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  13. Bill and Ted's Excellent AdventureAugust 13, 2010 at 8:24 AM

    5:11, Pink Floyd is lost on a Left-Brained fool like you. I can assure you, you don't get it, or else you wouldn't be shilling for gold and you would understand satire. No, 5:11, you best stick to Ted Nugent. That's more your speed. Leave Pink Floyd to those who have the intellectual and pyschical capacity to appreciate its greater meaning, you survivalist loser.

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  14. 524/B&T's Loser Adventure: Total idiotic and wacko post. Get off this blog you pathetic leftist!

    ReplyDelete
  15. You can tell things are getting worse by the diminishing quality of comments. Sorry about personal problems, but calling fellow posters names because they have a different viewpoint is not going to fix the mess we ALL face.

    You know who you are. Grow up.

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  16. I agree with 7:52. The nuts are coming out of the woodwork.

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  17. 8:07's comment is tragic irony, n'est-ce pas?

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  18. 7:52, I think it's all part of our deeply divided "nation." Personal attacks are the coin of the realm.

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  19. Feed those who are hungry. We can only make it if we serve one another.

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  20. The preceeding comments are brought to you by Moron-be-gone. When your everyday web surfing gets all tacky and nasty, spray your keyboard with Moron-be-gone once in the morning and forget it. That's Moron-be-gone.

    For The Twilight Zone, this is Rod Serling. Good night.

    ReplyDelete
  21. 4:36 the first time you used that I found it fresh and original...Noooooow I'm wondering who you stole it from.

    ReplyDelete
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