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Holiday Sales Expected To Be Less Than Half Fed's "Wealth Effect" Hope

Tyler Durden's picture




 

Based on the Fed's wealth effect creating surge in stock prices, Guggenheim's Scott Minerd believes retail sales should be up 5.8% in Q4 2013. However, as we noted before, expectations are for a dismal 1-2% holiday spending growth at best; as 2013 is set to be the worst holiday spending season since 2009. Stores from Tilly's to Abercrombie and Wal-Mart are warning, the NRF projects the first drop YoY since 2009, and gas prices are set to rise (further pressuring consumers' disposable incomes). The bottom line - as we already know - is that QE's effects on the real economy (if there were ever any?) are set to end in the 2013 holidays.

 

A 1-2% spending rise expectation is less than half the S&P's surge would imply...

 

 

Chart: Guggenheim

 

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Wed, 11/27/2013 - 23:33 | 4195912 The Heart
The Heart's picture

"growth at best;"

Growth?

At best??

Lol...

Be lucky if they make the electric bill...and commie-care costs.

Thu, 11/28/2013 - 00:00 | 4195998 lolmao500
lolmao500's picture

Yeah if people think 2013 will be bad, they've seen nothing yet. 2014 holiday sales will probably be the worst since the 90s... best case scenario.

Thu, 11/28/2013 - 00:15 | 4196023 jeff montanye
jeff montanye's picture

screen keeps going blank.  what gives?

Thu, 11/28/2013 - 00:17 | 4196033 jeff montanye
jeff montanye's picture

seriously the last few days i try to read or post in early stories and the screen goes blank and i have to recall zerohedge and try again.  what's the deal????

Thu, 11/28/2013 - 02:12 | 4196175 CrazyCooter
CrazyCooter's picture

Talked to my old man tonight about gifts; we both give wool. He said he is good on merino and I told him to wait until the sales in April. I usually get some Pendleton (wonderful company great products - best prices in April) and I have been buying him Minus 33 Merino longjohns  because he is "old and cold" all the time. Crazy bastard says now that "if heaven doesn't have flannel sheets and 10 hour electric blankets - I don't want to to go" LMAO. That kind of started it.

Merino wool underclothes are the bomb for old folks that aren't as "hot" as they used to be. Shop your own vendors, just advising what worked for my old man. He loves the stuff. And he gifted me a lot of Pendleton shirts/coats, pearl snaps, the works, when I moved up north. Classic stuff you can't get anymore, even this crazy plaid wool bath robe from the 70s.

We are both value shoppers and don't find this time of year compelling to buy ... anything.

Everyone else I buy a ASE if I give a shit. Are those on sale?

Wool and silver.

Regards,

Cooter

Thu, 11/28/2013 - 09:04 | 4196349 Zero Point
Zero Point's picture

I'm giving homemade soap to the family this year.

It even smells nice, and my kids helped me make it.

If there's a next year, I'm going to give homemade whiskey.

 

Thu, 11/28/2013 - 12:47 | 4196872 AldousHuxley
AldousHuxley's picture

It is like $1 a soap bar. Not saving much there and you probably pay more to ship.

 

 

Thu, 11/28/2013 - 12:15 | 4196753 CoolBeans
CoolBeans's picture

Thank you for the tip on Minus 33 products.  I have Raynaud's and cold is just painful (I understand your Pop's feelings about being cold).  I'm in FL (it was 29 last night...and our furnace died...nice Thanksgiving).  Anyway,  I put 'em on my favorites and when I get some $ will definately buy the 3/4 long john's.  THANK YOU!

Thu, 11/28/2013 - 07:34 | 4196311 negative rates
negative rates's picture

Bill Gates took the money and ran, now you have to pay someone else you trust to plant an anti virus that doesn't "blackout", or blurr, or interfear with the computer screen. Don't ya just love hacks.

Thu, 11/28/2013 - 12:49 | 4196877 AldousHuxley
AldousHuxley's picture

bill gates just bought tons of exxon.

 

 

Thu, 11/28/2013 - 13:37 | 4197046 dizzyfingers
dizzyfingers's picture

jeff montanye Got adblock?

Thu, 11/28/2013 - 00:18 | 4196027 Jlasoon
Jlasoon's picture

2014 should be a firecracker of a year.

In other news "a man in Thailand was pronounced dead after being electrocuted by his iPhone 4s".

http://www.scmp.com/news/asia/article/1366337/thai-man-dies-after-talkin...

 

"Buy our overpriced neo-slave built chargers or face possible death by electrocution"

                 -Apple

Thu, 11/28/2013 - 01:03 | 4196121 infinity8
infinity8's picture

Pfft! Electric bill? Who worries about that?!?! I'm not buying anything this year (as last, and the year before, and before, and before. . . ) except some socks for myself. They'll get something I cook or otherwise make with my hands and I don't expect anything either. But, then again, I've been on a "zip your wallet" campaign since the '90's.

Wed, 11/27/2013 - 23:30 | 4195914 ebworthen
ebworthen's picture

5.8% increase in spending?

Really? 

Did people get a 5.8% raise?

Were their healthcare costs lowered by 5.8%?

Were their taxes decreased by 5.8%?

NOT!

If there is a 5.8% increase it will be on the Mastercard/Visa/AmEx bill, a.k.a. DEBT.

Oh, that should do wonders for the economy, but is that not the FED and .gov example?

Wed, 11/27/2013 - 23:42 | 4195953 Skateboarder
Skateboarder's picture

The more you stack on your credit card and the tighter you squeeze your debit line, the more naked CDS there are put on your aggregate risk class sectioning of a risky consumer credit line betting scheme over on murca's favorite street.

Thu, 11/28/2013 - 00:25 | 4196054 ebworthen
ebworthen's picture

True that.

They'll send I.R.S. agents to yank my gold crowns out to pay the bill, but for the banks and banksters they'll keystroke 'em $40 Billion overnight - no questions asked - no repayment necessary.

The hegemonic demonic wankers!

Thu, 11/28/2013 - 01:11 | 4196128 infinity8
infinity8's picture

You're dating yourself with those gold crowns. :D - Say Cheese!

Thu, 11/28/2013 - 02:11 | 4196174 ebworthen
ebworthen's picture

Nothing better, and I'm not that old, just young enough to appreciate quality.

Porcelain crowns crack within 10 years, Gold lasts 20, 30, 40 years.

Malleable, non-corrosive, heat and cold resistant; all the reasons Gold is valuable is why it makes a great crown.  Hey, if I can't invest in myself why invest?

Thu, 11/28/2013 - 02:34 | 4196197 infinity8
infinity8's picture

Uh, no arguing with you. Must be paying your DDS in (cash?) I have good teeth, thank Jeebus and the turkey but, not the norm. Nowadays in 'Murca anyway. Unless you grillin'.

Thu, 11/28/2013 - 11:40 | 4196633 ebworthen
ebworthen's picture

No worries, yes - paid in cash. Happy Thanksgiving.

Thu, 11/28/2013 - 12:48 | 4196879 infinity8
infinity8's picture

And to you, sir. And all you other ZH monkeys as well. Best to youse and yours!

Thu, 11/28/2013 - 13:28 | 4197014 dizzyfingers
dizzyfingers's picture

Bravo Edworthen!

Wed, 11/27/2013 - 23:32 | 4195926 TheRideNeverEnds
TheRideNeverEnds's picture

Its amazing they still get away with saying QE is to try and help regular people.  Its theft plain and simple.  

Wed, 11/27/2013 - 23:41 | 4195949 Cognitive Dissonance
Cognitive Dissonance's picture

We believe what we want to believe.

<Thank God the idiot box tells us what we want to believe, otherwise we would be clueless.>

Thu, 11/28/2013 - 10:26 | 4196442 CrimsonAvenger
CrimsonAvenger's picture

What a fool believes
he sees
no wise man has the power
to reason away

Thu, 11/28/2013 - 11:09 | 4196552 Hedgetard55
Hedgetard55's picture

+55 kajillion for the Michael McDonald/Doobies quote.

Wed, 11/27/2013 - 23:33 | 4195927 Ralph Spoilsport
Ralph Spoilsport's picture

Spending should be down 5.8%, not up.

Wed, 11/27/2013 - 23:39 | 4195944 Cognitive Dissonance
Cognitive Dissonance's picture

Time to roll out QE 5++.

<Watch out for friendly fire.>

Thu, 11/28/2013 - 00:47 | 4196104 jon dough
jon dough's picture

When QE 6.6.6 hits, I'm cutting out...

Wed, 11/27/2013 - 23:39 | 4195945 walküre
walküre's picture

They have a problem. That group of 0.1% to 1% may be flush and willing to spend but their shopping and consumption will never make up for the drop in incomes and loss of credit for the 99%.

The story nobody in DC Versailles wants to hear. Instead they figure cutting SNAP by 6% is feasible. Maybe. But it won't entice anyone to spend.

There's no job security and there's no demand. Fucking economists are all out to lunch with their projections. Not even mentioning the uncertainty and increased cost for Obamacare.

Thu, 11/28/2013 - 13:30 | 4197027 dizzyfingers
dizzyfingers's picture

"They have a problem. That group of 0.1% to 1% may be flush and willing to spend but their shopping and consumption will never make up for the drop in incomes and loss of credit for the 99%."

Sweat them! Cut up all credit cards, buy as little as possible (balap).

What are they gonna do, arrest us?

Wed, 11/27/2013 - 23:43 | 4195955 jonjon831983
jonjon831983's picture

I now see an Adidas ad on ZH with this incredibly fertile looking dirty blonde.  Not sure if anybody else gets it.  Excuseme I'm gonna buy some adidas, help holiday sales, and... get spied on.

Thu, 11/28/2013 - 00:26 | 4196053 Jlasoon
Jlasoon's picture

The new Adidas "SpringBlade" are only $180. Do your civic duty, help the eCONomy along, save a Bernank and buy 2 pairs. Would you like to know more?

http://www.adidas.com/us/content/springblade

Thu, 11/28/2013 - 00:54 | 4196112 jonjon831983
jonjon831983's picture

Hmmm noo... the female was wearing some sorta sports top that squeezed her breasts... I was thinking of buying what she was wearing.

Thu, 11/28/2013 - 11:07 | 4196549 Coast Watcher
Coast Watcher's picture

Damn. Made me look.

Thu, 11/28/2013 - 01:21 | 4196134 Never One Roach
Never One Roach's picture

Do you happen to have any pics of net seasons super speedos worn by the Young and the Breastless New Wealthy Chinese driving Maseratis.

Thu, 11/28/2013 - 03:16 | 4196221 El Vaquero
El Vaquero's picture

FUCKING GIMMICK.

 

If I'm spending that much on shoes, I expect at least 1,000 days of use out of them.  And I'm hard on shoes. 

Thu, 11/28/2013 - 09:24 | 4196360 Bobbyrib
Bobbyrib's picture

I am waiting for buy some New Balance sneakers. They are made in th US and cheaper than $180. I'm in need on new sneakers.

Thu, 11/28/2013 - 11:10 | 4196556 Hedgetard55
Hedgetard55's picture

bought my last three pairs of New Balance for $4 a pair at Goodwill. Slightly used but still going strong.

Thu, 11/28/2013 - 12:12 | 4196744 CoolBeans
CoolBeans's picture

Addidas = sucks. My son + a friend bought mid-priced models (just under $100).  Both fell apart at the exact same seam and Addidas would not return inquiries as to refund...much less admit sub-quality overseas manufacturing.  Will NEVER buy anything other than New Balance for everyday.  How I wish they'd made a sport-line (soccer, etc.) we could utilize.

Thu, 11/28/2013 - 12:11 | 4196736 CoolBeans
CoolBeans's picture

LOVE New Balance - we buy them for the entire family because they are made in the US and fit + wear very well.

 

Thu, 11/28/2013 - 22:36 | 4198226 dizzyfingers
dizzyfingers's picture

 

Bobbyrib: Some N.B. shoes are made in USA. Depends on what year, what shoe models. Lots of "marketing" talk to make people feel good about buying N.B.

"New Balance is one of several shoe companies that makes some of their products in the United States. Green America states in the New Balance Responsible Shopper company information page that around one quarter of NB's shoes are made in the United States.[5]"

So 75% not madein US. 

 

Wed, 11/27/2013 - 23:43 | 4195960 max2205
max2205's picture

Maybe the FSA buying power will help....oh wait

Wed, 11/27/2013 - 23:58 | 4195993 lolmao500
lolmao500's picture

Funny just came back from a meeting at COSTCO... they still are telling us it'll be record sales and profits this year... YEAH RIGHT.

Thu, 11/28/2013 - 00:12 | 4196019 Oldwood
Oldwood's picture

Hints of negative interest rates and a potential explosion in inflation with a little Yellin thrown in for seasoning is squeazing cash out of savers pockets while the FSA is living it up on our dime and endless credit fills the gaps. How could this be working any better?

Thu, 11/28/2013 - 00:00 | 4196001 stant
stant's picture

velocity of money is still down aprox 50% from 2007-8

Thu, 11/28/2013 - 04:15 | 4196249 Uber Vandal
Uber Vandal's picture

Negative Nominal interest rates should help that along a bit.

Thu, 11/28/2013 - 00:08 | 4196014 lolmao500
lolmao500's picture

While Hagel is trying to start ww3...

http://www.mcclatchydc.com/2013/11/27/209998/hagel-us-japan-mutual-defen...

Hagel: U.S.-Japan mutual defense treaty covers islands China also claims

Come on. Supporting Japan against China, yes. Helping Japan if they get attacked by China, yes. But saying those contested islands are Japan and there's no discussion about it? Bullshit. Let Japan and China figure it out by themselves... don't start a war because of some shitty island nobody gives a fuck.

Thu, 11/28/2013 - 00:17 | 4196032 Oldwood
Oldwood's picture

What could better for a dying economy than War?

Thu, 11/28/2013 - 11:10 | 4196554 Coast Watcher
Coast Watcher's picture

No shit. I've been waiting for one for a couple years now. Figured it would be Syria or Iran, but maybe the 0.1% have figured out that a war with China would negate all those dollar securities.

Thu, 11/28/2013 - 13:35 | 4197041 dizzyfingers
dizzyfingers's picture

"Hagel: U.S.-Japan mutual defense treaty covers islands China also claims"

Time to take to the streets!! HELL NO OUR KIDS WON'T GO!

Thu, 11/28/2013 - 01:15 | 4196132 eric89074
eric89074's picture

Every fucking store is opening at 8pm tomorrow. By 2015 they'll only be closed for a few hours on Thanksgiving.

Thu, 11/28/2013 - 02:51 | 4196194 ebworthen
ebworthen's picture

Was in Staples today; the manager was telling a friend that he had to work on Thanksgiving - first time in 26 years.

An office supply store open on Thanksgiving?  Sad.

Are the Corporations desperate?

Are the CEO's jackasses?

YES.

Thu, 11/28/2013 - 03:29 | 4196226 El Vaquero
El Vaquero's picture

Yeah, fuck that.  If I'm shopping tomorrow, it's for beer or food, and id I can't find any tomorrow because its Thanksgiving, that's my fault for not planning ahead.  This Black Thursday shit is shit.

Thu, 11/28/2013 - 03:43 | 4196231 AngelEyes00
AngelEyes00's picture

"Are the Corporations desperate?"

With everybody so worried about losing their jobs, execs know employees will go into work on holidays, the cost of opening the store in no greater than any other day, so why not push the poorly paid surfs to work on a National Holiday?  It's shameful, but workers in America keep taking it without banding together to voice their displeasure, so execs keep dishing out more pain.

If the govt. really had our backs instead of the corporations, they would mandate certain days off.

Thu, 11/28/2013 - 03:54 | 4196235 ebworthen
ebworthen's picture

Yup, welcome to debt serfdom.

Those fucking MBA wankers will be at home with their trophy Wives (Husbands, Significant Others) sipping the champagne and licking the gravy without a thought to the poor sods toiling away from their loved one's.

The unreformed Scrooge is alive and well in the U.S.S.A.

That is why I'm not doing one damned bit of shopping this holiday.

Thu, 11/28/2013 - 04:02 | 4196243 W74
W74's picture

Surely you jest ebworthen. 

You don't think even 1 of those wankers might think of their working bretheren slaving away at the cash register inbetween plate licks?

Thu, 11/28/2013 - 03:53 | 4196237 dognamedabu
dognamedabu's picture

If the govt. really had our backs instead of the corporations, they would mandate certain days off.

 

Really? You want someone with a gun telling you and your employer what day you can work or not work? How about YOU refuse to work that day times everyone else who feels the same and it will change. I am all for destroying corporations and bringing back Mom and Pop shops but mandates from gov is how we got here. 

 

Thu, 11/28/2013 - 03:59 | 4196240 W74
W74's picture

The cost (in their minds) of not being open are lost opportunity costs.  The fixed costs (mostly the lease on the space) are always the same and paying employees a pittance is not a big deal.

Still don't understand how Staples/Office Depot are still in business.  I'm guessing one is just waiting for the other to go under so it can canibalize the industry and compete with Wally-World which has all the same stuff anyway.

Thu, 11/28/2013 - 07:40 | 4196312 negative rates
negative rates's picture

The people have been voicing their displeasure. But it was in vain, so now we wait for a God they don't believe in to equalize the playing field so the people's voice can speak as loud as their wallets with silver and gold coins.

Thu, 11/28/2013 - 08:45 | 4196344 Oldwood
Oldwood's picture

But again, why are we asking government to protect us from ourselves? These stores would not be open if it were not for all the idiots lined up to buy shit they absolutely DO NOT NEED with money most DO NOT HAVE. We are constantly blaming our masters when we put them in their positions of power? Jobs leaving America....we are the ones buying all of the foreign shit. Illegals taking over our low wage jobs.....we pay them to build our houses and mow our yards and cook our food. A continuing loss of freedoms and loss of income because we demand more and more "protection" from our masters. We DO have choices and we constantly choose poorly. Always the good deal driving every fucking decision. Everyone lamenting the ever inflating stock market while so many are still in and playing in the hope of  a few more gains. And you can bet every fucking person that loses a dime when this shit finally does crash will be whining their asses off, demanding JUSTICE from someone or something when they are the fools. Freedom is expensive but everyone seems to think they can have their cake and eat it too. Just sayin....

Thu, 11/28/2013 - 08:50 | 4196345 negative rates
negative rates's picture

I've done beat my last dead horse, right now it seems to me they can have their cheese, or they can have their cake, or they can have their cheesecake, along with the eventual permanent belly ache.

Thu, 11/28/2013 - 09:16 | 4196355 Oldwood
Oldwood's picture

Yes, beating the dead horse pretty well sums it up. We can see what is happening and can do nothing about it. I feel the Wiley Coyote stepping off the cliff and seeing the ground rushing up to meet me. I don't know how far I have to fall but I know its coming and there is nothing I can do except decide if I want to land on my head or ass.

Thu, 11/28/2013 - 03:10 | 4196219 I Write Code
I Write Code's picture

I got a question.  It seems like every friggin' stock is being allocated support dollar by dollar according to some secret spreadsheet, nothing else explains the market over the past three to five years.  OK, that's not the question.  My question is - why is Intel stock not doing better!?  Is it that the support is not absolute, it's just a fixed allocation, or is it that whoever is running the spreadsheet doesn't like Intel?  Geez, this is like doing astrophysics by examining the inside of meteorites, trying to figure out wtf it is our economy has been turned into.

The point being, what kind of "wealth effect" is it when the prices are obviously bogus and the government is doing some keystone kops impression of fascism?  Just how was spending in Germany 1932-1939?

Thu, 11/28/2013 - 03:47 | 4196233 ebworthen
ebworthen's picture

Intel is primarily recognized as a PC processor manufacturer.

Although they make all kinds of processors and chipsets, etc., they are tied psychologically to the P.C. market which supposedly is in it's twilight.

I've gone AMD in the past five years because they rock for the price; though my laptop Core Duo is a fine processor and chipset (integrated video).

This is why Intel is punished.  If Intel wants to shine again stock wise they need to get their brand on Androd smart phones and devices.

Thu, 11/28/2013 - 03:29 | 4196225 AngelEyes00
AngelEyes00's picture

Think about it.  Every year we go through the same steps.

1.  The retailers orchestrate a collective crocodile tearsfest claiming their revenue will be hurt by a dismal Xmas season (that hasn't even happened yet so no one even knows how it will turn out).

2.  The news pushes this meme getting consumers to think, "Wow, we're doing better than that aren't we?" and goes out and goes berzerk buying anything and everything for relatives that will pawn and trade most of it for alcohol and drugs.

3.  The retail season ends up exceeding all previous xmas seasons, the retailers lick their profit happy chops with another holiday season under our belts.

Just once I'd like to see consumers not get duped into making retailers holiday dreams come true, and or QE end so we can really get a good idea of how the economy is doing.

Thu, 11/28/2013 - 03:49 | 4196234 ebworthen
ebworthen's picture

Ditto.

Notice how this "storm" has led all the news casts leading up to the Black Friday insanity?

They are pre-loading the excuse round if sales are crap.

Thu, 11/28/2013 - 07:46 | 4196314 negative rates
negative rates's picture

This christmas season will have no teeth, but the jan, feb bills will still have to be paid, then the economy picks up again in March as the collective fundementals come into some more savings after all that idling.

Thu, 11/28/2013 - 04:43 | 4196263 Atomizer
Atomizer's picture

The street bitchez tell me they’re using their subsidized redeemable points to buy Christmas shit for free. Santa Claus is coming to EBT town. Yellen, crank up QE to 120 billion/month. We should reach 17,000 DOW by Q2 of 2014.

Thu, 11/28/2013 - 05:15 | 4196271 Atomizer
Atomizer's picture

It’s a riot went you can pigeonhole all the brokers who have vested into the 2013 Santa Claus rally. High unemployment figures, inflated goods & services, and no disposable income. This will reach the social media despotism group study network. The media will spin new falsehoods to bait the next sucker.

Thu, 11/28/2013 - 09:26 | 4196364 muleskinner
muleskinner's picture

You have to have Thanksgiving or people will eat more chicken and turkeys would be endangered. Supply and Demand would suffer a severe interruption.

Can't have that. Be thankful for Thanksgiving, you have a day off to eat a full meal and then tomorrow you can sleep until noon. The highways will be empty for a few hours, more or less, and there will be a football game to entertain you when there is nothing else to do. Give thanks on Thanksgiving, it is the least you can do, even if it is a secular kind of thanks, you can still be somewhat appreciative for those who do their best make it possible to produce an available pumpkin supply so you can have a pumpkin pie for the dessert.

If you don't believe that Jesus was sent as God's only begotten Son, then you don't have to have Christmas. Gotta have believers to buy Christmas gifts or you have a poor sales year when it matters the most.

So, you have a pool of Christians who will spend money at Christmas time and fatten your bank account. Might end up with a private jet and a yacht. You just never know how good Christmas can be.

Let's all give thanks to those who make a big bunch of stuff for the Christians to buy at Christmas every year, year after year, and everybody is richer, not poorer.

Open the stores on Thanksgiving so Christmas shoppers don't have to be jonesin' to shop.

Observance of Christmas was banned in America up until 1856. It was not a holiday and schools did not close in celebration of Christmas Day.

Bing Crosby would have been poor all of his born days if Irving Berlin wouldn't have composed 'White Christmas'.

Where would have Elvis been without 'Blue Christmas'?

Com'n, Christmas is great.

Don't have to worry about what happens after Christmas, everybody is broke and spending comes to a grinding halt.

Then another year of beating your head against the wall and a few other holidays in between to have some decent beer drinking time. Buy beer stocks and drink good beer.

Anybody who has their employees working on Thanksgiving Day should be taken out behind the barn and shot.

Thu, 11/28/2013 - 09:29 | 4196368 q99x2
q99x2's picture

Depends on what you buy. You convert that fiat to BitCoin and there you'll have your wealth effect.

Thu, 11/28/2013 - 09:55 | 4196397 Bobbyrib
Bobbyrib's picture

At $1,000 per coin? May as well buy into the stock market. Both ideas are equally insane.

Thu, 11/28/2013 - 10:22 | 4196427 JMT
JMT's picture

cry me a river about retail workers "having to work" on Thanksgiving..

 

A) THEY GET PAID FOR WORKING ON THIS DAY DO THEY NOT??

 

 

B) THEY CAN FIND BETTER JOBS IF THEY SO DESIRE....  

Thu, 11/28/2013 - 10:21 | 4196428 JMT
JMT's picture

cry me a river about retail workers "having to work" on Thanksgiving..

 

A) THEY GET PAID FOR WORKING ON THIS DAY DO THEY NOT??

 

 

B) THEY CAN FIND BETTER JOBS IF THEY SO DESIRE....  

Thu, 11/28/2013 - 10:28 | 4196444 JMT
JMT's picture

hire these retailer workers at the company you work for if you feel so sorry for them.. I mean seriously, they have to work on thanksgiving THE HORRORS...  and why can't many (who are older than high school age) find better jobs if they hate it so much. I hear so much complaining from retail workers who have these huge sense of entitlement

Thu, 11/28/2013 - 10:58 | 4196525 Singelguy
Singelguy's picture

News Flash. Real unemployment and underemployment is closer to 25%, far from the officially cooked numbet. They cannot find better jobs because there are NO better jobs, or at least very few. Delta recently announced they were hiring 300 people, and received 22,000 applications. What the hell are the other 21,700 supposed to do? Some may have a sense of entitlement, but the vast majority are trying to get by with what is available to them, and in this economy it is all retail and service jobs with little or no benefits.

Thu, 11/28/2013 - 11:14 | 4196565 Coast Watcher
Coast Watcher's picture

1-2% spending growth doesn't even cover inflation. If the numbers are that low, they represent a loss. Time for another round of layoff notices from the coke and hooker guys.

Thu, 11/28/2013 - 12:30 | 4196799 Last of the Mid...
Last of the Middle Class's picture

The super wealthy only need a half a dozen i-craps for thier family. You can't get the sales you need when all the wealth is concentrated at the top. Therein lies the conundrum. Generate enough wealth for the privileged few and you end up cannibalizing sales from the rest of the populace. Add to that the tax on the middle class that is Obamacare and this economy is toast. FOREVER! Long plowshares. . .

Thu, 11/28/2013 - 12:30 | 4196800 Last of the Mid...
Last of the Middle Class's picture

The super wealthy only need a half a dozen i-craps for thier family. You can't get the sales you need when all the wealth is concentrated at the top. Therein lies the conundrum. Generate enough wealth for the privileged few and you end up cannibalizing sales from the rest of the populace. Add to that the tax on the middle class that is Obamacare and this economy is toast. FOREVER! Long plowshares. . .

Thu, 11/28/2013 - 14:24 | 4197196 dizzyfingers
dizzyfingers's picture

AngelEyes00: bravo

Thu, 11/28/2013 - 22:20 | 4198196 dizzyfingers
dizzyfingers's picture

dognamedabu  Bravo.

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