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Retailers' Profits Miss By Most In 13 Years: "Consumer Is Not Back"

Tyler Durden's picture




 

"The American consumer is not fully back and remains cautious," is the oddly real tone of Ken Perkins, president of Retail Metrics, reporting that U.S. retailers’ first-quarter earnings are trailing analysts’ estimates by the widest margin
in 13 years amid weak spending by lower-income consumers intensified competition:

  • *U.S. RETAILERS’ PROFITS MISSING ESTIMATES BY MOST IN 13 YEARS
  • *U.S. RETAILERS MISSING ESTIMATES BY 3.2%, RETAIL METRICS SAYS

While extreme weather is tossed out as the reason for this miss, what is an ugly smoking gun is the expectations the chains are missing had already been significantly lowered. Hope remains strong as "pent-up demand" has analysts projecting a 8.6% surge in profits in Q2... as long as it's not too hot or cold or wet or dry.

 

As Bloomberg reports,

Chains are missing projections by an average of 3.2 percent, with 87 retailers, or 70 percent of those tracked, having reported, researcher Retail Metrics Inc. said in a statement today. That’s the worst performance relative to estimates since the fourth quarter of 2000, when they missed by 3.3 percent. Over the long term, chains typically beat by 3 percent, the firm said.

 

...

 

“The American consumer is not fully back and remains cautious,” Ken Perkins, Retail Metrics’ president, wrote in the report.

 

...

 

What’s more, the expectations the chains are missing have been significantly lowered. While analysts now project retailers’ earnings fell an average of 4.1 percent, back in January they had estimated a 13 percent gain.

 

Most retail segments are showing profit declines, with department stores, teen-apparel chains and home-furnishing stores faring the worst, Retail Metrics said. About 41 percent of retailers have missed estimates, while 45 percent have beat.

But faith remains strong that it will all be ok...

Improved weather, pent-up demand and better employment trends may help the industry in the second quarter, Perkins said. Analysts are projecting an 8.6 percent gain in profit for the current three-month period, he said.

Unforntunately, the winter of 2000 was a relatively mild one - so we wonder what they blamed the miss on then...

 

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Fri, 05/23/2014 - 11:13 | 4788586 Seasmoke
Seasmoke's picture

Just about everyone I know is broke......but more important, they are no longer afraid to admit it !!!

Fri, 05/23/2014 - 11:20 | 4788617 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Just what exactly are these retailers expecting? That the American consumer will suddenly find a +$1000 in discretionary income per month? And then they'll be able to mark up junk at +500% like "the good'ole days"?

Fri, 05/23/2014 - 11:36 | 4788688 knukles
knukles's picture

Oh, come on...
It's not that bad...
After all, Pelousy just blamed Bush again for some shit or other...
And the MSM is describing Putin as "embattled"...

Fuckin-A's all honkie dorky! 

 

This whole fucking thing is turning out like a bad Ed Wood movie, Plan 9 from Outer Space or sumptin'

Fri, 05/23/2014 - 11:47 | 4788754 duo
duo's picture

It's the other way around, $1000 less per month for Obamacare, plus the fear of $6000 deductible.

As I said last year, the Obamacare sudden-stop of our economy will be something for the history books.

Fri, 05/23/2014 - 11:58 | 4788791 freewolf7
freewolf7's picture

We left and we ain't comin' back. We're busy. Buying precious metals.

Fri, 05/23/2014 - 12:10 | 4788864 dontgoforit
dontgoforit's picture

Helping our kids trying to launch, pay student loans, do the honorable things.  I can't bitch about this stuff if I'm gonna be hypocritical.  'We're not broke, but we're badly bent.'

Fri, 05/23/2014 - 13:42 | 4789178 kchrisc
kchrisc's picture

With respect, but why are you even bothering paying the student loans?!

Just get a deferment, and put the savings into gold/silver, steel and lead.

The TP-dollar and DC US won't even exist in a few years.

 

"You can also invest in a guillotine."

Fri, 05/23/2014 - 12:25 | 4788931 Al Huxley
Al Huxley's picture

Ha ha, good one, the average American consumer has stopped buying shit on credit and is now buying PMs, right!  Thanks for the laugh.

Fri, 05/23/2014 - 12:51 | 4789029 666
666's picture

Why would I want to go to the store to buy clothes or whatever when I can simply take my money and make monthly ObummerCare payments?

Fri, 05/23/2014 - 11:48 | 4788758 homiegot
homiegot's picture

I shop at Goodwill. Found a 8 dollar blender after the one I bought for 90 bucks 10 years ago fried (things used to last longer). I'll keep buying the 8 dollar blenders from now on. Fuck retail.

Fri, 05/23/2014 - 11:20 | 4788620 observer007
observer007's picture

Thai military detains former PM Yingluck

Latest:

http://tersee.com/#!q=thailand&t=text

 

Fri, 05/23/2014 - 11:37 | 4788697 NoDebt
NoDebt's picture

I wish our military would detain Obama.  

Fri, 05/23/2014 - 11:48 | 4788759 corporatewhore
corporatewhore's picture

I understand you're frustration with the awful current economic conditions and i suffer from it also.  However, blaming it all on one person and that person being the duly elected President is ludicrous.  Haven't you heard that the President only proposes?  I would love to blame Bush for everything but that is a complete simplification of the current malaise.  There are so many factors involved in this mess. 

 

Fri, 05/23/2014 - 12:02 | 4788823 BeetleBailey
BeetleBailey's picture

"duly elected"

duly .............elected

This fuck-chop had more ballot stuffing than a turkey on Thanksgiving

I agree...but the whole Fuckbama administration - and the government overall - is the problem.

 

Fri, 05/23/2014 - 13:49 | 4789194 kchrisc
kchrisc's picture

The problem is MUCH, MUCH larger than just one administration.

The criminality has been going on for some time. Since Lincoln, in my book, maybe Wilson for some, or for many, since Dallas '63.

 

"Don't miss the treasonous government, for the treasonous administration."

Fri, 05/23/2014 - 13:52 | 4789212 corporatewhore
corporatewhore's picture

who stuffed Florida in bush v gore?

Fri, 05/23/2014 - 14:18 | 4789304 kchrisc
kchrisc's picture

Criminals.

Fri, 05/23/2014 - 12:09 | 4788854 Osmium
Osmium's picture

I believe he did more that propose Obama care.  The insurance company's wrote the law and he pretty much rammed that shit through on his own.  Then after it was signed into law, have made several changes to it with the stroke of a pen ignoring the constitution.

Fri, 05/23/2014 - 12:50 | 4789028 john39
john39's picture

obama is not competent enough to ram anything through.  its all a set up, by people hiding in the shadows, and they will throw obama to the dogs at some point, but only to sucker the american people for the next trap they laid.

Fri, 05/23/2014 - 12:11 | 4788873 dontgoforit
dontgoforit's picture

No, I believe you can blame obama.  If Romney had won the election it would, IMHO, be a very different world.

Fri, 05/23/2014 - 12:18 | 4788899 pods
pods's picture

Yeah, for starters we wouldn't be making wookie jokes.

Wait, that's all I got.

pods

Fri, 05/23/2014 - 13:30 | 4789145 earnyermoney
earnyermoney's picture

jokes about SpongeMit MagicUnderpants

Fri, 05/23/2014 - 11:29 | 4788660 Relentless101
Relentless101's picture

American consumer is dead. Its demographics and psychology. People who got wacked in 08' are trying build retirement and those who are less concerned with retirement still have a horrible taste in their mouth. The only people buying are well off and we all know that even though they have way more money, it'll never last.

Fri, 05/23/2014 - 11:40 | 4788718 Never One Roach
Never One Roach's picture

 

 

"The American consumer is not fully back...."

 

Baaawaaaahhaaaaaaaa! He qualifies for the next pres of the NAR with his euphemisms and double speak.

But, then again, it is "The Summer of Recovery!"

Yes, another one.

Fri, 05/23/2014 - 11:45 | 4788739 homiegot
homiegot's picture

I suggest we start digging mass graves. Know what I mean?

Fri, 05/23/2014 - 13:54 | 4789219 kchrisc
kchrisc's picture

We should leave that to the Ready Reserve Corps when they set up shop at the FEMA camps.

http://www.freerepublic.com/focus/f-news/2485607/posts

Fri, 05/23/2014 - 12:13 | 4788879 Richardk888
Richardk888's picture

I am sure they are counting on everyone spedning their tax refunds to boost sales, but seeing as how taxes went up and so many deductions are gone I think they are going to be dissapointed.

Not to mention the rise in cost in everyday items.

Obviously the only thing that can fix this is more government

Fri, 05/23/2014 - 12:20 | 4788904 pods
pods's picture

It is like bloodletting or AIDS "therapy."  The sicker the patient got, the more they had to do.  

pods

Fri, 05/23/2014 - 11:14 | 4788590 BeetleBailey
BeetleBailey's picture

Yet...the fucking casino is up, yet again......insanity

Fri, 05/23/2014 - 11:16 | 4788594 TheRideNeverEnds
TheRideNeverEnds's picture

Terrible economic data you say?  Well that explains why the market hasn't had a down tick all day and we are making new highs.

Fri, 05/23/2014 - 11:16 | 4788602 Tenshin Headache
Tenshin Headache's picture

More worry! Bullish!

Fri, 05/23/2014 - 11:16 | 4788605 starman
starman's picture

My 9 year old daughter; dad I really want to go to China, me with disgust; why China , my daughter; because that's where they make all the toys.

Bam!

Fri, 05/23/2014 - 11:20 | 4788622 jbvtme
jbvtme's picture

you sure it wasn't that melamine formula you fed her as a kid?

Fri, 05/23/2014 - 14:11 | 4789271 malek
malek's picture

I hope you're proud of your daughter: she understands that producing things counts (and no, production of fiat currency doesn't count)

Fri, 05/23/2014 - 11:18 | 4788611 orangegeek
orangegeek's picture

You have to wonder how Ken Perkins and the like get up in the morning to write this garbage.

 

Hey Ken!!!!!!!!!  50M Americans on food stamps.  Any questions dumbass???

Fri, 05/23/2014 - 13:37 | 4789165 SheepDog-One
SheepDog-One's picture

These people have their heads so far up their own asses that they're connoisseurs of their own farts!

Fri, 05/23/2014 - 11:19 | 4788612 wmbz
wmbz's picture

Now that summer is here it is bound to get hot somewhere. That plus fires and thunder storms "they" will have plenty of weather to blame it on.

Fri, 05/23/2014 - 16:01 | 4789612 SDShack
SDShack's picture

And then hurricanes in the fall... don't forget the hurricanes.

Fri, 05/23/2014 - 11:19 | 4788615 ParkAveFlasher
ParkAveFlasher's picture

Not "cautious", "dead".  Upcoming generation shops at thrift stores and LOVES IT.  Complete and utter socio-economic DOWNSHIFT. I don't care what any of my fellow late X-ers say, these kids are the TITS.  I love them.

Fri, 05/23/2014 - 11:45 | 4788747 CrazyCatLady
CrazyCatLady's picture

This late x er says they got it from us.  Been shopping thrift since high school.  Only way to get quality stuff with character

Fri, 05/23/2014 - 12:16 | 4788892 ParkAveFlasher
ParkAveFlasher's picture

I love you, man!

Fri, 05/23/2014 - 11:48 | 4788757 homme
homme's picture

Thrift stores rock! About the only things I buy "new" anymore, is food and underwear.

Fri, 05/23/2014 - 12:17 | 4788894 ParkAveFlasher
ParkAveFlasher's picture

And a bro hug for you too, homme. 

Fri, 05/23/2014 - 13:08 | 4789083 edifice
edifice's picture

Millennials are great, by and large--especially the ones born after 1985. Some are schlubs, some are a little naive and weird from overparenting, but overall they're good kids just looking to get by.

Fri, 05/23/2014 - 11:20 | 4788619 optimator
optimator's picture

Factor in price increases due to (real) inflation and its even worse.

Fri, 05/23/2014 - 11:20 | 4788623 Yen Cross
Yen Cross's picture

     If coke and hookers works so well for the GDP caugh...caugh numbers, then maybe we should include pork & prescription meds. in retail sales numbers.

Fri, 05/23/2014 - 11:22 | 4788628 tommylicious
tommylicious's picture

my inbox is stuffed with promotion after promotion from retailers.  big discounts.

Fri, 05/23/2014 - 11:22 | 4788634 pound the vix
pound the vix's picture

No money for clothing and furniture because everyone is buying a Caterpilar.  Or is that the stock used to juice the market??

Fri, 05/23/2014 - 11:23 | 4788637 madcows
madcows's picture

earnings don't matter.  market is still up.

Fri, 05/23/2014 - 12:15 | 4788885 dontgoforit
dontgoforit's picture

QE comrades.

Fri, 05/23/2014 - 11:24 | 4788642 Spastica Rex
Spastica Rex's picture

This has been the driest Spring I can remember here in the inland Pacific Northwest. I just haven't felt like going shopping at all.

Which is a good thing, 'cuz I ain't got any money.

Fri, 05/23/2014 - 11:33 | 4788679 pound the vix
pound the vix's picture

No One uses money anymore

Fri, 05/23/2014 - 11:34 | 4788685 G.O.O.D
G.O.O.D's picture

Hey Rex, .22 shells @ BiMart for 1.99 limit 2. Better go get a couple for shooting food and such basics as suicide.

Fri, 05/23/2014 - 12:01 | 4788812 Spungo
Spungo's picture

Suicide by .22 sounds painful

Fri, 05/23/2014 - 12:07 | 4788848 F.A. Hayek
F.A. Hayek's picture

Nail guns work better.

Fri, 05/23/2014 - 12:17 | 4788893 dontgoforit
dontgoforit's picture

The only 22lr's you can find around here are 'Made in Russia' and are POS lead powdery thingys.  I would only use them if invaded by space aliens.

Fri, 05/23/2014 - 13:47 | 4789195 SheepDog-One
SheepDog-One's picture

Really? Check on gunbot, I found CCI Mini mag and velocitor there.

Fri, 05/23/2014 - 12:01 | 4788822 Spastica Rex
Spastica Rex's picture

I love BiMart - everything you need, and nothing you want.

Great proletariat store.

Fri, 05/23/2014 - 12:09 | 4788861 G.O.O.D
G.O.O.D's picture

The brightspot @ Bimart is the washers are not 2 for a dollar like that fvkin Ace Hardware.

Fri, 05/23/2014 - 13:24 | 4789134 earnyermoney
earnyermoney's picture

I was reading an article on the drought's impact on the Central valley in California. Article stated the valley, size of Rhode Island, was sinking because the underlying acquifer was empty. Some portions of the valley have dropped 30 feet in the past 80 years. I wonder if a giant sink hole will open up in California's central valley?

Fri, 05/23/2014 - 11:25 | 4788645 ejmoosa
ejmoosa's picture

Just what do you need that you do not already have?

 

 

Fri, 05/23/2014 - 11:31 | 4788669 TheRideNeverEnds
TheRideNeverEnds's picture

More Johnson & Johnson stock in my protfolio? 

Fri, 05/23/2014 - 11:36 | 4788696 Winston Churchill
Winston Churchill's picture

Always need more ammo.

Fri, 05/23/2014 - 12:17 | 4788896 G.O.O.D
G.O.O.D's picture

washers

Fri, 05/23/2014 - 11:30 | 4788665 Kilobar
Kilobar's picture

Those higher Obamacare premiums are a bummer.

Fri, 05/23/2014 - 11:40 | 4788717 Winston Churchill
Winston Churchill's picture

Ding ding ding. A rubber chicken sandwich for the winner.

Fri, 05/23/2014 - 11:34 | 4788667 CaptainSpaulding
CaptainSpaulding's picture

Stop and shop aka Ahold was very busy today. Lots of people buying fat burgers and sausage for the barbie on monday. Happy memorial day.

Fri, 05/23/2014 - 11:42 | 4788725 homiegot
homiegot's picture

Memorial Day: A celebration of meat and beer. The veterans appreciate it.

Fri, 05/23/2014 - 11:33 | 4788678 ejmoosa
ejmoosa's picture

Quarterly Rate of Profit Growty(year over year):

Retail Store -19.79%

Retail Hardlines -1.83%

Retail Softlines  -26.8%

Retail/wholesale Food  -10.56%

 

And the icing on the cake(despite all time highs for gas):

 

Petroleum Producing  -32.04%

Petroleum Integrated  -32.04%

 

Sooner or later, these sectors will be raising their prices and rightsizing to their new profit levels.

Watch out, my inflation Overlords...

Fri, 05/23/2014 - 12:19 | 4788901 dontgoforit
dontgoforit's picture

Yeah that SS check will be worth half of what it is today.  Can anybody say sardine sandwiches and chicken neck bone soup?

Fri, 05/23/2014 - 16:06 | 4789623 SDShack
SDShack's picture

When pets disappear because people eat pet food, and the 0zer0care death panels are shoving the old and sick into soylent green plants, then you will know revolution is near.

Fri, 05/23/2014 - 11:37 | 4788700 Kreditanstalt
Kreditanstalt's picture

Maybe consumers don't have enough MUNNY...!   Print faster print faster print faster

Fri, 05/23/2014 - 11:38 | 4788706 BeerMe
BeerMe's picture

"Pent-up demand"  What a joke.  Any "pent-up demand" has gone into inflated food, energy, healthcare and shelter.

Around here I'm not seeing any sign of a better Q2.  So far Q2 is on track to be worse than Q1.

Fri, 05/23/2014 - 11:46 | 4788746 Winston Churchill
Winston Churchill's picture

My Q2 looks good only because of my 1%'s & 0.01%'s clients.
Shit all from the 95% underclass.
I hate having all my eggs in one basket but what can you do,except go where the money is ?

Fri, 05/23/2014 - 11:54 | 4788775 homiegot
homiegot's picture

Long razor wire.

Fri, 05/23/2014 - 14:05 | 4789248 franzpick
franzpick's picture

'Pent-up supply' - of inventory - will precede the  next leg down from this large head and shoulders in retail stocks:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=xrt&insttype=&freq=1&show=&time=8

Fri, 05/23/2014 - 11:40 | 4788708 homiegot
homiegot's picture

Sears, JCPenney and the like just need to be selling marijiuana/other drugs. Install smoke/fix rooms. Build food/snack court in store. Install video game cubicles. Also install diet/diabetes clinics. Problem solved. It's a win-win.

Fri, 05/23/2014 - 11:38 | 4788709 G.O.O.D
G.O.O.D's picture

Gas must hit 42 dollars a gallon b/4 we take the train.

Fri, 05/23/2014 - 11:51 | 4788768 CrazyCatLady
CrazyCatLady's picture

Its only got to hit ten before i take my kid's bike.

Fri, 05/23/2014 - 12:21 | 4788907 dontgoforit
dontgoforit's picture

Only trains we got out here are ole Mr. Peabody's hauling coal.

Fri, 05/23/2014 - 13:20 | 4789126 crazybob369
crazybob369's picture

Won't be long.  Crude oil firmly over $104, and rising.  With the pots in the Middle East still boiling, I expect $5-$6 by Labor Day.

Fri, 05/23/2014 - 14:13 | 4789277 franzpick
franzpick's picture

A $1/brl rise in WTI equals about 3c/gal in gas:  $114 WTI adds 30 cents/gal to gas, and 1 good mideast oil scare will bring us $5/gal gas here in cali.

Fri, 05/23/2014 - 11:39 | 4788713 TrustWho
TrustWho's picture

We SELL future earnings.....UP, UP AND AWAY.......

Fri, 05/23/2014 - 11:39 | 4788714 asscannon101
asscannon101's picture

"The American consumer is not fully back and remains cautious,"

 

Heretic! Non-believer! Unclean! Infidel! Burn him at the stake!

Fri, 05/23/2014 - 11:44 | 4788723 nakki
nakki's picture

Pent up demand indeed. I'm definitely in the market for a 60 inch LED smart TV. I'll then have 4 TV'S and can put my 40 inch in my bathroom. Plus my iPad iPods and smart phone need to be replaced as they are all at least 1 year old. Put me down for a new car since the one I bought last year, the one to replace the one I bought in 2005, is well a year old. I almost forgot my furniture, my couch is well past its prime being 7 years old and let's not forget my pots and pans they are at least 10 years old. While I'm at it I might as well buy a new house, you know, cause the one I'm living in is old. PENT UP DEMAND INDEED!!

Fri, 05/23/2014 - 11:43 | 4788730 G.O.O.D
G.O.O.D's picture

Cant afford the vaseline anymore and now the fvkin is starting to hurt.

Fri, 05/23/2014 - 11:43 | 4788732 Never One Roach
Never One Roach's picture

Consumers have no money left over after buying their Xanax, X-Tra Wide Scooter, and Mary Jane.

Fri, 05/23/2014 - 11:44 | 4788734 TrumpXVI
TrumpXVI's picture

"...and home furnishing stores faring the worst."

Home furnishing stores ALWAYS are faring poorly.  That metric can simply be tossed.  

(The other retailers numbers are meaningful.)

Fri, 05/23/2014 - 11:48 | 4788755 G.O.O.D
G.O.O.D's picture

gona be a riot @ the Kum-n-Go

Fri, 05/23/2014 - 11:50 | 4788765 Spungo
Spungo's picture

We should make spending illegal. That would make people want to spend money. If they don't have the money, they suck a dick until they have the money. Then they go to JC Penny. Something happens. Recovery.
/Keynesian 

Fri, 05/23/2014 - 11:56 | 4788781 MedicalQuack
MedicalQuack's picture

It was very timely too yesterday with the White House news "template" as we had Obama stating we really need tourism to boost the economy in the US, well yeah because we are broke and don't have the money to spend.  The timing to talk about how wonderful tourism is couldn't have been worse and it's that group running the White House communication efforts today putting information out that functions like a template and I wonder when Obama himself might look at it and wonder what's wrong as it doesn't look good unless you just want to be a complete lame duck and do nothing. 

http://ducknetweb.blogspot.com/2014/03/virtual-worlds-real-world-we-have...

It' that case of "The Grays" with focusing on virtual instead of real world values. It's all we are anymore is a bunch of "Stat Rats" and it's catching up.  Sure we need statistics and good numbers as guidance so I'm not discounting that, but rather the over reliance of such when you are in the "people" business and the VA should be a big warning to all of us.  Now the greed of the markets and methodologies have traveled too far.  How long are we going to keep fooling ourselves with quantitated justifications for things that are just not true. 

VA Crisis Should Be A Huge Wake Up Call , We Have Turned Into a Nation of “Stat Rats”, Losing Touch With the “Real” World As Virtual Values Confuse, Collide and Wreak Havoc As Models & Formulas Fail

MedicalQuack Oh the @WhiteHouse news template again "America's Great Outdoors" & images from the Dept of the Interior? Huh?

MedicalQuack Weird timing-@WhiteHouse Tweet today talking about tourism boosting our economy? I guess we need it we as US consumers are broke

Fri, 05/23/2014 - 12:23 | 4788922 dontgoforit
dontgoforit's picture

When obozo speaks, I feel a 'little puke' coming on.  Too bad it won't improve my holdings values.

Fri, 05/23/2014 - 11:57 | 4788783 Ban KKiller
Ban KKiller's picture

We are still buying. Seed, ammo, chicken feed and bulk foods like rice, beans and small farm raised beef and pork. Own small garden...

Anything else we buy used on black market, aka, Craig's list, etc. Do some trading for other items. 

Furniture? Are you kidding me? Appliances? No. Next move is small solar (under 5k) off grid kit with batteries to power fridge and freezer. Prices are dropping on solar...finally. 

Decentralization is the key...IMO.  The other key to killing the banksters is the public bank model. THAT is what the oligarchy fears...decentralized money! AND decentralized monkees. 

Fri, 05/23/2014 - 12:06 | 4788825 SMC
SMC's picture

Somehow I doubt the aggregate demand of the 1% (who feed at the 1st tier of the crony-capitalism pig trough) combined with the parasitic draw of government politicians, contractors and employees (the 2nd tier) and the free $hit army (the 3rd tier) will magically make up for the decay in discretionary and non-discretionary spending of those who actually produce useful goods and services.

For those who will not kneel:

Take care of what you have, or go without.

When it is broke, fix it.

When it is torn, mend it.

Life is a team sport - help others and they will help you.

Eat only what you need for the day, save the rest for tomorrow.

Save for rainy days, stay debt free and only purchase productive assets that you need.

Keep an open mind, think for yourself, never stop learning.

Fri, 05/23/2014 - 12:17 | 4788897 agstacks
agstacks's picture

This is so easy to fix.  We just need to include illegal drug sales and prosistution as "retail sales". It would be a boon to our economy. 

 

{S}

Fri, 05/23/2014 - 12:21 | 4788908 buzzsaw99
buzzsaw99's picture

Don't worry about Lampert, he got plenty.

Fri, 05/23/2014 - 12:36 | 4788986 Space Animatoltipap
Space Animatoltipap's picture

Luckily human life is not about consuming like a pig. 

Fri, 05/23/2014 - 12:36 | 4788987 Space Animatoltipap
Space Animatoltipap's picture

Luckily human life is not about consuming like a pig. 

Fri, 05/23/2014 - 12:48 | 4789023 edifice
edifice's picture

I haven't purchased anything that wasn't necessary for living since 2010. In 2010, I had $15,000 worth of credit card debt and lots of student loans. Today, I have around $200 credit card debt and a few student loans left over. Gym dues and a couple of other small bills go to the CC. It is paid off monthly, before interest hits. Nothing else goes on it, unless it's an emergency.

I second shopping at Goodwill, Salvation Army, etc. I found a great set of cups at GW the other day... Good, thick glass and stenciled with microbrewery logos. 12 Like-New glasses for $4. Would've paid 5 or 6 times that retail.

Fri, 05/23/2014 - 13:04 | 4789069 Ban KKiller
Ban KKiller's picture

Subversive! You have brought our "economy" to its knees...

Fri, 05/23/2014 - 13:22 | 4789132 foodstampbarry
foodstampbarry's picture

You are an enemy of the state. .gov has been disapatched to your location and you will be dropped off at your local re-education camp.

Fri, 05/23/2014 - 12:49 | 4789025 stant
stant's picture

Freezers full of beef and the ammo lockers full too ,but I bought a box of 38spl anyway. Silly me big spender

Fri, 05/23/2014 - 13:03 | 4789066 Son of Loki
Son of Loki's picture

Who has time to shop? I'm too busy putting my Stoo-Dent Loans to work picking up Hot Babes on campus and showing off my new Escalade and Shiny Blingy Things.

Fri, 05/23/2014 - 13:27 | 4789140 SheepDog-One
SheepDog-One's picture

But don't worry, the consumer will surely be back NEXT quarter after the weather gets better!

Fri, 05/23/2014 - 14:21 | 4789323 franzpick
franzpick's picture

The ongoing credit and spending collapse will make things ever worse for the retailers: when the going gets tough, the tough will go shop-lifting.

Fri, 05/23/2014 - 14:32 | 4789366 Franktastic
Franktastic's picture

until there is regime change in Amerika, am not buying a dam thing!

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