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Something Is Wrong With This Chart: US Jewelry Imports Drop By Most On Record
Either our copy of Excel has a bug, or the BLS hasn't gotten to seasonally adjusting its less than A-grade time series yet, or perhaps there has been an unprecedented and undocumented surge in jewelry artisans in the past five years, or simply people are now celebrating Bernanke's centrally-planned economic renaissance by wearing bones and yellow tattoos, or men and women now just say no to such superficial trinkets as watches and rings, but whatever the reason, according to the BLS, US jewelry imports in the month of October inexplicably just posted their biggest annual drop. On record.
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looks like the badly abused US consumer is running out of buying power. I wonder if we will see tbtf jewellery chains?
Buy jewellry with food stamps
I have it on good faith that Mr. T unloaded his entire collection at a Beverly Hills pawn shop. The U.S. won't need to import jewelry for years.
"US Jewelry Imports Drop By Most On Record"
It must be because of the amazing success of our new "Buy American" strategy.
Sounds like the JEWlers are trying to inflate prices. Who would do such a thing??
I dont know...
Over.
More crypto jew-bashing from Francis_Sawyer. Go fuck yourself.
I bet the uber-rich who are buying jewelry are doing so aboard and keeping the stashes out of American shores, in case of future confiscation (by either the govt or the pleb when they finally wake up).
This chart DOES NOT surprise me for the following reason: We've been in the estate jewelry biz for the past 8 years - and I've been ALARMED at the amount of FAKE 10k, 14k & Sterling (925) jewelry ending up at big box retailers, all imported from China, India & Mexico! The Fed is finally cracking down on this (in my area), however. Gosh that only took 4 freakin' years! Some of the big box retailers I've spoken to about this tell me that they "no longer carry fine jewelry" (translation: they only care "junk" or "costume" jewelry).
Chart's good, but the story is a Red Herring -
Most Jewelry stores do their ordering in July for Christmas. If gold is declining, why buy in bulk now as it will be less expensive in the Fall. So wholesalers and manufacturers order less gold for import.
A lot of good gold has returned from the ME, and Pacganistan - see your local military base pawn shop avenue.
Expensive gold; 14, 18 and 22 karat - ties up a lot of dollars and if it doesn't turn over by the New Year, the store is fubar'd. The last three days before Christmas are absolutely critical to yearly profit / loss.
Wave cash in front of the owner and offer him 1/3 on Christmas eve - ask him to keystone his price just for you for cash, today.
Never pay more than 40% cash when you can talk to the owner.
The comments on this story are all you need to deduce that most of Zero Hedge's readers (or at least those who bother to comment on articles) are losers living in their parent's basement, or the equivalent thereof. Sad shit here.
Yes, Sad Shit Indeed ...
And some of us do have adult children in the house, and perhaps an aged parent in the attic.
Have to go - make sure the dog isn't on the internet again.
1 %'ers not holding up their part of the bargain.
Buy, Buy, Buy
Hidden signs of impending doom aside, this is likely related to the falling cost of precious metals. The price of these products are dependent on value of PM's, gems and maybe consumers feeling of wealth.
I would bet that that an index of PM prices and consumer confidence would follow that chart closely.