- advertisements -
how is it that none of the MSM question obama and bernanke on this disaster
The MSM have been totally hi-jacked for along time now.
what obama second term?
I still have to ask the question, if this report is indicative of the economic situation, when jobs are finally added, retail should go even more insane, right?
I'll have a good report later from the front lines again. We're selling product at this event priced as low as $5 up to high end, $20,000.00 plus. Yesterday we saw huge interest in the $200-$1,500 range. That's an area that's been coming back strong. Never lost the low end or high end but the mid range was slow. That's where the big pick up is for all of us and one employment report is not going to change that.
Do you work for Goldman??? Maybe JPMC?
Can I ask what industry you work in with such a wide pricing range?
five dollar unicorns? fun for the whole family.
Those are plastic replica's of the $20,000 version. The My Pretty Unicorn's. The mid range are your average Ford style Unicorns. The top end are AMG Unicorn from the highlands of Germany.
I guess he does have some emaciated Mongolian Unicorns in the bargain bin, but they crap lead paint chips.
Are you thinking what I'm thinking? $5 knick-knacks and $20K ice sculptures are selling fine, but they were having trouble moving useless stuff like dinner tables and lamps.
I thought he said the 200-1500 range was up. That's the designer toilet market spiking. The bank execs need a nice view when puking their guts out when PM prices nuke their massive shorts.
He said there was "huge interest," not that sales were actually up, but also intimated by the use of "coming back" that they had been down. At any rate, that folks at the very bottom and the very top have been somewhat insulated by transfer payments, while everyone else in the middle takes a beating...
my son has a "huge interest" in becoming a rock star
Thanks Harry. Was just curious.
Home decor makes sense to be picking up. Many people have been putting off purchases in the home space for years now. But sooner or later, the wife says you need a new couch, and you just can't fight it anymore. The many single 20-something males on ZH can't fully understand this dynamic.
The recent surge in refi's probably freed some cash for upgrades, especially since people are staying put in their places now (rather than flipping every 2 years). I think there's a larger macro housing trend going on here that may be negative for home prices, but could have positive effects on vendors in the home space. I know several coworkers that have refi'ed recently because they "have decided they're staying put forever", into a lower priced loan, adding a pool/kitchen/bathroom at the same time.
Name your company so I can call them and verify these claims. You of course wouldn't have to name yourself, just the company.
You are fortunate to be in a retail mail order business, maybe outdoor recreation and sports equipment such as Cabela's (NYSE: CAB), to take advantage of those who still have purchasing power and leisure time and also that growing segment of the population which has need for shelter (tents, tarps and sleeping bags) and food gathering (fishing rods & tackle, bows & arrows, guns & ammo), preparation (knives and camping stoves) and storage (coolers) equipment.
I wonder what the real difference is between a $5 hand job and a $20,000 hand job...
Depends on the on the grit size in the lube. $5 is 1/8" screen I think.
Thank you Thank you Thank you...
Ha! Funny stuff, BP.
Harry, I guess the OD Green line is going great-the barrack halls do need to be spruced up for the incoming draftees to fight WW3
"I still have to ask the question, if this report is indicative of the economic situation, when jobs are finally added, retail should go even more insane, right"
No when jobs are added or the recovery happens which it won't there will be distortion fixes. Like right now they don't want people to know how many people are out of work so they distort it down. They don't want people to know that the economy is not doing anything so they distort it up. Sales are lies. Big fat lies.
During the great depression there was huge need for labor because more people could participate in the industrial revolution than in the information system revolution. So the distortions occured the other way. There were less jobless people than reported. They focused more on the hard luck stories and the bad news. This put it in peoples minds that jobs were scarcer than they were were.
AMD doesn't lie out thier butt during thier quarterly reports but you better believe Intel and microsoft and everybody else does. If the economy BOOMED apple would be flat for 2 years just "fixing" the books back.
It's not about jobless extensions, it is the tecktonic shift in the economy they are hiding. 40% of the manufacuring/machining capacity from 2005 to 2010 as been evicerated, and were are you going to employ 10 million people with a defined skill set? Until we start making things here again to soak up the bodies, were are in for a along, brutal haul, ala Grapes of Wrath.
when jobs are finally added...
The U.S. may have to face the fact that unemployment is going to be high for a long time," said Drew Matus, a senior economist at UBS. "There are people who need to be retrained for new jobs and that will take time."
And what pray tell me, please, will they be. Outside of a World War to create destruction demand,its got me stumped.
All you need to know is that this whole world economic mess doesn't mathematically add-up and that's why it will collapse. Mathematics is truth. Ponzi schemes by their very nature cannot last forever.
These messes throughout history always end in one way: lots of people dying, and the people who created and kept the system alive will get away with the rewards. We now have the worst kind of mess: a world-wide mess, everyone is involved.
This is how the few control the many. And they play it on the people through various guises century after century.
It hardly even qualifies as mathematics actually, arithmetic really, but a grade 9 education doesn't cover exponents. Keep everybody stupid, they'll fall for anything, like Arnold the paperboy tricking Fred Flintstone.
Actually the mistake many people on this board make is forgetting about population growth.
The fundamental basis of all Ponzi schemes is you need a growing group of new members to add to the scheme. As long as you have this, the scheme can continue. Ponzi schemes collapse only when you run out of new members.
As long as a country's population is increasing, Ponzi schemes are completely sustainable (ethics arguments aside). The problem with Europe and Japan is they have either stagnant or shrinking populations. In this case, the scheme falls apart.
In that case, the "population" is a product of the participants and their disposable income or savings, no?
Correct. And when the ponzi sucks up too many resources for the population to flourish, they stop reproducing in great numbers. This in turn causes further contraction in the ponzi's growth, which in turn causes the population to reproduce even less
yeah, that's likely to happen.
The last UE bulge was narrowed down by the creation of the housing bubble. The previous one by the .com bubble.
So basically we need another irrational bubble that blows skyhigh and then crashes, destroying our economy in order to get out of the LAST time we did the same thing.
The market is now down 10 points. Ridiculous.
ISM non-manufacturing will pump it up. The NFP will be quickly forgotten since only the ADP report is what really counts (in the minds of the bulls).
Unfortunately, it is all about the Chinese employment numbers. The market reacts to Chinese data and not US data any longer. How is your mandarin?
The "unemployed" are fast becoming "unemployable"--so I hope they enjoy their little Christmas bonus while it lasts...
<s>Who needs jobs when you just let the 99'ers roll off the data. May as well cut UE benefits to 60 weeks and PRESTO look at the UE numbers move in the 'right' direction. Of course many millions of people are still without jobs and UE benefits, but who cares when the government numbers look this great!</s>
That's only 17 million jobs needed to be created, roughly, people.
C'mon, quit being so cynical of the U.S. Government's willingness to step out of the way, take down roadblocks to job creation, and incentivize people to innovate and hire.
Yes we can! Green shoots! Hopium!
all these guys who go on tv and proudly proclaim that the abysmal job #s dont matter because the market is up;
hard not to wish that they discover what it is like to be out of work
Underemployment is the new American pastime.
Slick charts, but it uses an input flaw. The unemployment rate will never get back to 5.0% that we say in Dec 07. It was an anomaly of the tech/credit/housing bubbles. 5% had always been the estimated theoretical rate of full employment. 6.5% is a more realistic rate, closer to historical average.
I know, I know, the point was that at 40K/month, the economy is far, far underachieving that which is required to get employment back to "normal".
But, but... according to Nancy Pelosi (and Joe Biden) more unemployment benefits, and thereby extension higher unemployment ADDS jobs to the economy and reduces the deficit.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.