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Consumer Confidence Plummets To May 1980 Level
UMichigan consumer confidence just printed at 54.9, on expectations of 63.0. This is the lowest since May 1980. And what's worse, inflation expectations were unchanged. Looks like those high inflation expectations are starting to get anchored. In the meantime, with the Chairsatan saying to expect at least two more years of recession, is this really a surprise to anyone?
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bullish
Bullish is right! May 1980 was a great time to buy stocks.
i'd rather buy and hold their treasuries...
http://www.mbaa.org/ResearchandForecasts/MarketEnvironment/TreasuryYield...
but keep our mortgages rofl
Buy the news?
Expectations: 45.7 vs. Exp. 55.3 (Prev. 56.0), lowest since May 1980
Transitory Dip, buy it while you can.
Nothing more bullish than a double dip. Double the buying opportunities! BBTFDs
Can't have a con without confidence.
these days i think you have that backward
+1 The truth is scary.
This consumer is confident consumer confidence will go much lower.
And this consumer, confident in your consumer confidence as a consumer, is also confident.
DavidC
I am confident that any consumers with confidence will be consumed.
shit, you guys forced me to realize my coffee hasn't kicked in =/
time for another cup...
As a consumer with confidence in your ability to confidently consume coffee I am confident that your consumption will lead to comprehension of consumer confidence conditions and completely clear the issue of confident comsumption by consumers which clears up the current consumers confidence while consuming question. Hope that helps.
GULP. My confidence has been completely consumed. Get me outta here.
Another success of QE1 and QE2. Looks like QE3 will finish us off for good.
Welcome back Carter.
Banzai?....Banzai?...Banzai?...http://thestarceleb.com/wp-content/uploads/2011/03/wbc-cast.jpg
and horshack's now the principal
Hard to believe there is accuracy in self reporting; she is a size 16 and he is actually the size of a small gherkin.
Confidenceless recovery.
Anyone think we have been in a recovery these past few years ?
party like its 1980...remember it was all uphill after that..
If all the money printers carry on with their business, this scenario is not so unlikely...
But the DOW/Gold-ratio is going to decline anyway.
The only stocks i´d consider buying right now are undervalued pm miners as the surge in gold hasn´t been priced in until now, agriculture (fertilizers, farming, seeds), and maybe oil - basicly all inflation related trades. Oil stocks of companies NOT involved in the middle east (Petrobras, Statoil, Lukoil etc.) might do well as oil prices would explode if the UN is stupid enough to go to war with Syria.
Additionally some emerging market stocks might be cheap (PE below 5 for some).
You mean the national debt?
I can't wait for chicks in big hair. Stirrup pants I could live without.
The consumer con is finally dented
Lazy Amerikans, can't even shop well.
With the exception of the Tiffany's and Nordstrom crowd, which is of course now being cheered mightily on FBN. Once Melissa said "Cramer is up next" I changed the channel.
that's it...fling the bling to the four winds, that'll keep the looters busy.
That is because they need parking spots closer to the ice cream freezers so they don't have to walk so far. I'll just park my Hoverround right under a soft serve ice cream machine and...gllllluuuggghhhmmmmmmmmmm so good!
And both the chair and your glucose meter "at no cost to you".
For those thinking this will play out like the post-1980 period again:
It's just too bad that so many multinationals have built factories in China & Mexico, and IT centers in India & Bangladesh, closing down the rusting shadows of factories and buildings they used to run in the U.S.
It's too bad that unlike 1980, NAFTA is in place, and China has MFN Trade Status (with more nations getting the MFN label soon), so that there will be more incentives to move facilities to even more places (other than the U.S.).
Wait...maybe Intel will shut down that 3 billion dollar plant it just built in China, and bring those jobs back to the U.S. */sarc
And throughout the good times of the 1990's oil was sitting at under $20/barrel. That is never ever happening again. Well, not as long as industrialised society survives.
So, ObAmA+ is Carter then.
My sweater smells like peas.
<The entire "story" of the Bull market is stocks rests on one reed: permanently rising corporate profits.
Too bad those profits are set to fall.>
http://www.entendance.com/forums/viewtopic.php?f=17&t=783&p=18711#p18711
UMichigan is in the geography that might slant it's NUMBering skills a little towards the dark side, ne?
Anyways, NUMBer and NUMBer, DUMBer and DUMBer.
I hear the whine of Stuka's on Monday morning open in Japan. eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.........
ORI
http://aadivaahan.wordpress.com/2011/08/04/many-drafts/
Scientific sampling (for those of you who haven't taken a college level statistics class, you may not want to agree or you may even be hostile to the notion that surveys or polling can be 'scientific' or 'accurate,' but it is highly accurate if proper protocol is conformed to) has nothing to do with geography, or the fact that the University of Michigan conducts this survey.
Proper scientific sampling is able to survey groups as small as 1,200 individuals, and if the protocol used is reliable and repeatable, that group can produce results that are nearly identical to what 310,000,000 individuals would have expressed, in terms of collective sentiment.
Michigan is only represented in this survey to the extent that its population was included, along with the other states, as a % of total population, in the survey methodology.
May 1980....hmmm. Weren't the PMs is a "bubble then, too?
Just wondering how long it will take a CNBS empty suit, talking head to make this case...
Stagflation is SO hot right now.
It's the new black!
It's stagflatiolicious!
I like the ass-backwards elaphonkey. What comes out of the donkey's ass slides down and up the elephant's trunk....and into our laps! Bipartisan teamwork!
It's funny because it works on so many levels
Brian Sack has his grubby fingers all in the market today. They'll continue to buy equities outright to try to keep this from collapsing into the weekend.
I love the fact that the DOW futures were down huge at 3:00 am and then reversed 400 points into the open. Golly.
Last few days there is
1.) a good data point (which ramps the market, with the gentle help of Mr. Sack)
2.) a bad data point (which nobody really talks about on the MSM. Instead discussion is left for ZH, and consequences for later).
3.) a rumor (which feeds the underlying pessimism created by 2. and momentarily triggers a sell-off)
4.) a few contradictory reports in quick succession (which juggle the indices up and down).
Woah! Distracting avatar there, but I get your points ... I mean point. Da Boyz always try to jiggle ... I mean juggle the indices up and down. (And side to side?)
But keep in mind the chart painters are no strangers to TA either. Key levels are run, bearish patterns are violated (viz the large H&S a few weeks back) and patterns are - as you intimate - carefully painted. Check out the sexy little Reverse H&S that's emerged this week. Oooo la la ... nice little bottom, there!
Years of watching all this has made a total cynic of me. What can be done, will be done. This is a pretty sophisticated operation, n'est pas?
i fucking knew it!!! trap -- massive bloodbath till algos kick in at, what, TD, about two your time?
Algos are mostly active at beginning and end of day. But some are active all day long.
After 2pm comes the mutual fund redemptions usually.
The technicals of the S&P are actually still bullish like yesterday.
thank you, slaughterer, i was just rereading the article and considering my failure. good thing i'm still practicing practicing. i did, however, get the opening jump about right (thought it would be about 50 higher) so called it at its peak. so that almost evened out my play money.
i really haven't begun to try and understand what 'technicals' really means -- i know what they mean in a general sense; only, i'd like to root around the plumbing. where could i look when i want to try and dig into that? i understand that they're important; but it's hard for me to lean on a crutch whose construction i do not comprehend.
what percentage of traders would you say depend primarily (if rather exclusively) on technicals?
John J. Murphy, Technical Analysis of the Financial Markets
Many technical traders have been doing very well overall with the recent H&S pattern being confirmed perfectly.
stupid question: h&s is head and shoulders...right? if so, i've actually been learning a bit about that. it sort of fits in well with the ideas i'm forming -- and they're easy enough even i've been able to start picking them out...since i figured out what moving averages are.
the things that tangle me are the two vectors that narrow and then force a movement...never know how to project a movement at those break or pivot or whatever points.
thanks again.
and thanks for the tits...reminds me of my early twenties...mine sag so wretchedly now.
janus
am no expert by any means ...... but good monthly at your option subsription site is DecisionPoint (Rhodes Reprt, TMcClellan, John Murphy, Sy Harding, Aden Sisters. others, RRUssell, many credible folks in TA land).... been following it diligently since late 90s.
Even they admit 'volume' is not what it used to be as an indicator of any relevance with what has happened in mkt. So pure price action and it's oscillation and advance/decline momentum analysis are the focus.
Problem with Tech Analysis it is like trying to drive via your rearview mirror .. and today so much is HFT & massive liquidity coming out nowhere you really have to think out your logic and even then it is a guess. But TA gives non-opinionated look under the surface of water level to try to understand somewhat the various currents at work in the stream. But for awhile now get feeling that algos or dark pools purposely manipulate TA for windowdressing of masses & media .... used to think this was conspiratorial ... not any more. That is why this site, ZH, continues to attract, it (TD) is trying to 'look around' the computer driven 'posturing' that is growing and probably now forever dominant.
E.g., a good chunk of past 1-2 years, while 'market' went up broadly ... it seeemed clearly 'managed' ... and you could almost see this in TA ... the 'action' seemed to frame to closely to 'texct book' TA pattterns, etc.. Too much to go into here ... you will see if you delve into it ....
What you say seems a bit contradictory at first glance, but I think I know what you're getting at. As I used to say long, long ago, on another board (in another galaxy far, far away): you don't need a conspiracy to make a dog chase a cat, just to let the dog off the leash.
And of course with Dark Pools and Super-Computers we have genetically modified Pit Bulls on steroids that are the size of small elephants.
again, if nothing else is gained from my time studying finance, i'll have a whole bevy of quips and sage nuggets to carry round for a lifetime...i'm stealin em all!
hands up, the huckleberry's in town!
I'm done with it, myself. I lost half a years' profits in the past week's gyrations. In my mind this market is broken, unnatural, a mad cow foaming with aftosa at the maw. I can't keep abreast of the next policy scam. Good luck.
Reaction...,
good show. that was goddam brilliant! (and i mean that as a complement)...you are being followed!
i think i'm developing a thing for kolalas (sp?)
Bad economic data along with short selling is now banned. Everyone head to Disney and be happy damn it!
You'll be whistling Zip-A-Dee-Doo-Dah out of your assholes!
lol...don't touch!
Our country loses the AAA rating and consumer sentiment was expected to rise? What is amazing is that the market has recovered so much ground. Truly an insane financial world we live in.
Huge up days are common in bear markets. It's the institutional side trying to sucker retail in, before they dump.
Johnny, Johnny, Johnny... good call, in a marginally sane environment (not this one though)!
Peeling back the onion on the up days, you eventually get to the maniacal bearded one... feeding primary dealers with cash to float the market... until treasuries tank, then it's let the market crash to drive investment to bonds... until the market crashes, then...
http://www.bofunk.com/video/5245/head_spinning_kid.html
If we close green today, the IBD 100 followers will see a Cup & Handle pattern which will sucker them in on Monday.
The trap is being set today.
Yep. It is either 1980 or 1929, place you bets - the casino is open!
1980 was a breeze compared to this mess
Agreed. The Reagan military build-up created many new jobs in the US in the 1980s. So did the telecom boom and tech boom that came later in the decade and into the 1990s. I don't see any industry creating massive numbers of good new jobs in the US these days.
It really is about creation of good paying jobs. That (plus reasonable spending levels) would help address a lot of problems. As it is, bureaucrats want to paper over our debt problems and kick the can down the road.
We need the next Al Gore to invent another Internet.
You AmeriKans should elect Ron Paul. Then you might become AmeriCans again. And i´d actually consider buying stocks of companies doing busines solely in the US.
We are still not going to buy Saabs, dude.
They are some ugly shit.
Saabs = cars?
tracy jordan invented the interwebs live on 30 Rock...everybody saw it
"It's a system of tubes!"
agree..... we are looking at 40 to 60 years to maybe entire post WW2 capital market order at risk versus 1980. We could still make mistakes then and survive, etc. no longer ..... we are transitioning to something beyond the so long dominant post-WW2 order. This is more the Bretton Woods and Nixon cursing De Gaulle .... way too many things at work.
First time in my adult life I see USA as vulnerable and if so, then even strong emerging markets like Brazil (was just there few weeks ago .... looked fine as far as I could tell on 1 week biz trip), then even the solid developing markets that did all the right things learning from their/our previous mistakes are likely to get drawn into this vortex.
Personal view, the US$ anchor is the fundnamental tectonic plate ... it it shifts ...... my brain cannot imagine what follows. That is one of my complaints about Federal Reserve & Geithner ... there is no visible Plan B or C .... you would think for nat'l econ security .... but then we fund terrorism via Saudi Arabia trying to keep itself in power with radical buy-out money , etc via our oil dependence, etc.. What maybe made sense in 1950s or 1960s is long gone ...
AH! HA! caught you again, you furry llittle thing...and again, the effort was worth it. can't get far with those tiny little legs and those senses all dulled to dixe on eucalyptus (sp?) leaves; and it's a good thing too.
that's some good thinkin by my count
three is a magic number/
yes it is, it's a magic number/
well, the brain and the soul and the body/
faith and hope and Charity/
the past and the present and the Future give you three/
and it's a magic number,
janus
Huoban, can you spare a Renminbi?
Retail sales rise, consumer confidence plummets.
Either consumers became addicted to spending no matter what during the free credit years, or they have decided to party like there is no tomorrow.
Retail sales include gas & food, so grain of salt on the retail numbers.
Crop Yield Raises Risk to Food Cost
http://www.nytimes.com/2011/08/12/business/corn-and-soybean-prices-rise-...
thanks Caviar, good to keep track. . .
I'll just add that the majority of those three crops are GMO, and not really fit for human consumption over time, but sure, consumers are free to choose.
military owning the weather, hmm. . . after almost a week of blue skies, they're spraying heavy here, white-out skies tomorrow, *nods*
Low dollar = brisk retail sales to foreign shoppers with dough. See it every day in NYC. Tourists packing every flagship store.
Retail sales increasing has to do with prices going up more than people having the confidence to buy.
No adjustments are made for inflated prices.
Reverse repo, beuichuezes
http://www.newyorkfed.org/markets/opolicy/operating_policy_110812.html
CAC up 3% because ????
Short selling bananas
The most worthless number out there that people no trade on since '09...
Unless it's positive...in which case it's the most important rip-snorting bull indicator ever.
Looks like were headed down for now ... Let's get this party started
Is that your face there on the floor of the NYSE?
Death cross, bitchez!
Had to do at least one "bitchez" comment.
Here's another one:
Automatic spell check, bitchez!
FYI - the average UMich consumer confidence during a recession is around 72-73. We're at 54.9
Retail sales up and consumer confidence down. I'm confused. The consumer is spending more and enjoying it less, or consumer isworried about the future so they are partying like it's 1999? Makes perfect sense..... in bizarroworld.
I know that as I'm tucking in to my iPad here at breakfast, I'm worried about where I'll get the scratch for the next one. Maybe I'll have to let them repo my PWCs? No big, winter's on it's way. Nom Nom: iPad=crazy delicious!
With the news headlines that we are fed...wtf is there to be confident about?
Defaults, downgrades, double-dips, unemployment, Greek insolvency, PIIGS, London riots, flash violence, Libya, Syria, Iran, tsunamis, earthquakes, nuke meltdowns, No Jobs available......
The one bright spot, maybe Obumhole will be gone before too much longer. Yep, replace the "D" suit in the WH with a "R" suit.....things would be much better...LOL.
Buck up, little campers. Its not all bad news out there. Be happy in this headline..."Obama Promises Jobs In Michigan After A Week Of Turmoil."
Read the article, and you'll be buzzed by the peace-of-mind:
http://politics.blogs.foxnews.com/2011/08/11/obama-promises-jobs-michiga...
Somebody pass me the absinthe...I need something to take off the edge...
As denial turns to concern and increasingly to alarm and eve, yes, anger, U Mich goes Bitch
As long as this doesn't bring back Dorothy Hamel and the Ice Capades
mad max was made in 1980, coincidince ...or something else?
When Mad Max was made it was a fairly shocking movie. If it were re-made today, it would have to look more like The Road. More like total system melt-down than peripheral nasty patch.
Looks like a nice place for gold to bounce.
off topic, but has anyone seen this list of FBI's "suspicious activity"?
http://oathkeepers.org/oath/2011/08/10/7769/insisting on paying with cash?
buying meals ready to eat?
54.9 (expected 63.5, previous 63.7) … 14% drop vs 0.003% expected drop
HOLY MOTHER OF GOD !!
RALLY TIME! <monkey jumping up and down>
"...is this really a surprise to anyone?"
Not me, certainly. If I worked in an ice cream store, I'd call this double dip "Obama's"
http://www.stockfood.co.uk/images-pictures/Double%20Scoop%20Chocolate%20...
Must be time to vacation!
Time for president Barry Carter to deliver his 'malaise' speech.
Hope he's not attacked by a giant rabbit while boating at the Vineyard.
I was a senior in High School in 1980. Seemed like good times to me back then, playing sports, cruisin for chicks, drinking beer(when we could find someone to buy for us).....good times man. Of coarse I had no clue what was going on outside my little town(population 1000).
I was a senior in High School in 1957. Seemed like good times but the country was in a recession. Had a part time job at ninety cents an hour, five packs of cigarettes were a bit less than a buck, gas averaged twenty cents a gallon. Gas wars sometimes brought it down to thirteen cents a gallon. A quart of Rrrruppert Knickerbocker was .78. And I had never heard of the Federal Reserve.
It's actually pretty high, if you take into consideration
all this: S-P downgrade, Debt ceiling crisis, EZ
Banks and Markets turmoil
and on and on, I'm surprise that anyone actually out
there shopping, this 54.9, probably Alcohol
only shopping and confidence :))))
I was thinking the same thing. It's wasn't actually zero. So, it' must be more gooder than expected.
TEA party rocks!
Were it not for the TEA party, we'd be talking about hokum hope-n'-change instead of facing reality.
You know, real people are losing serious money over your little hissy fit prone party... you are seriously fucked up to think for one minute that this is reality... 15 months left, have fun kids!
If you think the Tea Party is in anyway facing reality then you have not looked around.
The BEST budget plan from any Tea Party symp I have seen is reality only if you are waiting for the magic rabbit from uranus to start dropping unicorn/rabbit combo.
"TEA party rocks!"
How old are you, 14?
Looks like it is vacuum tubes BTFD time again cos the consumer/people are irrelevant to this "market"/churnfest
This is a reflection of the political landscape which is abysmal. Unfortunately for the economics professors and other temple merchants, the economic is part of the political, and visa versa.
I am shocked, shocked at this number after hearing endlessly on tout TV how "lower gas prices" were "a big plus for the consumer".
Apparently consumers didn't notice the $0.20/gallon drop, and remain focused on the fact that gas is 50% higher than it was this time last year (thanks to the marvelously successful QE2).
Isn't this a result of the debt ceiling impass, more than anything? Expect a rebound next month.
No i haven't seen that so everyone that is preparing it could be "suspicious activity"? Clowns
I can't believe he signaled 2 more years of ZIRP, that's just irresponsible.
somone should get this message to the throngs of consumers at the big box stores, the travellers packed like sardines on airplanes, the crowds lining the streets of Manhattan on a Thursday nite
or just visit an Apple store and see how depressed the consumer is
Key difference from 1980: there was growth!Big big difference. And growth was one of the key drivers of inflation unlike now where we have contraction along side rising prices.
Also: housing was strong, real incomes were still on the rise, manufacturing was vibrant, and monetary policy had only taken the first steps down the slippery slope to hell
And there was Big Hair ...
And Ditto's!
and pac-man
and back then the US was the largest creditor nation. look what can be accomplished in 30 years.
Everything is totally broken. Corruption reigns supreme over every sphere of American life.
Banks can manipulate commodities and markets at will becuase they own the SEC and CFTC and probably every congressman. There is no fear of the law or regulation by any banker. Naked short a million years supply of silver, no worries, done. Pocket multi million bonuses given by taxpayer bailouts, because they can.
America is a totally broken country. And Europe is not far behind...the AIDS that is bankers has infected everything.
As long as the credit cards keep working....bring it on...when the banks finally shut them off...then worry..which I think we will see in the banks next quarter
Impressive updating speed from Wikipedia:
http://en.wikipedia.org/wiki/List_of_stock_market_crashes
I was wondering if zero hedge stand by their '$2000 quote for gold in less than a month - with near 100% certainity'?
think you lot are top notch,
thanks
Looking at the chart, the lowest confidence levels provided some of the BEST buying opportunities. Contrarian indicator. The lower the number, the closer we are to the bottom. It's not like it's going to go from 54 to 3 and everyone is going to vow to not leave their house -- just sitting inside eating their canned food, counting their lead bullets, and polishing their shiny gold. The world will keep spinning. Always does. Someway. Somehow.
People will continue to go to work, buy groceries, and watch Jersey Shore/etc.
Ask 9 out of 10 people on the street what the consumer confidence number printed at today and they will be like, "HUH?" Only people heavily interested in finances care about such things. The average person is oblivious. They don't know what the VIX is. They don't care about muni bond ratings or potential Italian bank failures.
Speaking of vacuum tubes, it's good/healthy for all of us to step outside the one we live in once in a while. There's more to life than ES futures. Just saying. How long has it been since you've been to the beach or for a walk in the park?
On a side note regarding demographics, as baby boomers pass away, that could provide a big economic boost as they pass on their inheritance. Most sheeple like to live paycheck to paycheck and BLOW any extra money they have. Give them $10k when some gray-haired person bites the dust, and it will find it's way into the economy quite quickly. Ipads for everyone... I wouldn't be surprised to see the gov't change the rules relating to inheritance taxes either.
how can you know if the 1980 bottom will hold this time?
I like that silver is holding above $38.50/oz. Perhaps all the paper selling is being matched by physical buying.
Great news. The DOW is up over 100. This economy is going to blow your socks off.
Michigan in the shitter. How does he do it. Oh wait..... it's the luck of the O'Bama Irish.
This has nothing to do with Michigan, other than the University of Michigan B School has traditionally conducted this survey, and it's one of the most accurate historically in gauging the mood of consumers across the nation -
Michigan Consumer Sentiment Index (MCSI) Definition
Reuters/University of Michigan Surveys of ConsumersOff topic also Senior Turkey official: We expect Syria to immediately halt its violent crackdown. I think Turkey may send troops into Syria ...
May, 1980? That was the month that Mount St. Helens exploded. Just sayin'.
so...the markets rise on a negligible claims print (that won't even be accurate until next week) and a rise in spending that is relevant only in the realm of statistical anomalies, and I read on the DXY site the eurobanks somehow magically got better overnight...yet this and the impending Q2 GDP downsizing get shrugged off, at least for now. which leads me to wonder, are there any actual human interaction with wall street anymore, or has it been completely turned over to skynet, scanning headlines, growing more self aware and about ready to unleash judgment day, the economic version? what are all those guys in the pit, looking uber stressed and screaming into their blackberry's really doing, are they really just a bunch of out of work soap actors wall street hired on to make it look as if the humans are still involved? I'm not a trader but it would seem to me in my laymen understanding of these matters that there is some serious twilight zone shit going on...
stocks will follow all the way back to 1982, it was based on inflated price only?
I hate it when I'm called a 'consumer'.
I always thought I was a citizen, then I found out I was just a consumer, a useless eater.
Does anybody remember what the economy was before it was 'consumer driven'? Any ideas how to get that back?
it has been consumer driven for ever. However the consumers used to have jobs and rising dollars to spend so that's your problem.
very odd close in european markets, futures jumping up like crazy the second it closed
already preparing next week's short squeeze perhaps?
See Socionomics: http://video.google.com/videoplay?docid=8483214695191142670#
must wait un til after ny lnch hour for the selling to commence..!
they have to make it appear like a real market .
you can think there is going to be inflation all you want but until the job force starts pushing back up against 5 % there are little inflationary pressures. The fact that people think there is going to be this massive inflatin and interest rates going up is because of all the campaigns out there to sell gold.. Every radio station on the quarter hour for the last two years.. I have never heard of any thing called a safe haven investment that moves 10% a week.. that is as stupid as calling oil a hedge for you portfolio.. We all know if will happen and one day good news will abound and gold will drop 300-400 dollars in a week..not a matter of if but when..
Confidence. LMAO.
The only people confident are those trying to Spin the news, working on Wall Street or trying to sell you some crap...like a house you can't afford...or a new car you don't need.
My wife and I have spent a great amount of fiat dollars in the past year or so. It has been spent on getting prepared for what is coming. I am sure this adds to the consumer con. report. I wonder if this is a good thing?
Bullish! No, I don't think so. This is warning signs for all of us. We are in times that have never been encountered before. There is global systemic debt that is impossible to pay off, and I would say we should not invest in the market anymore and feed the monster that has been created. Sell stock and invest in tangible real goods like gold, silver or anything other real and not just paper created out of thin air.
Don't fall for Wall Street's bullshit.
http://www.collapsenet.com/154.html
i've been going to Best Buy and have noticed that there is minimal foot traffic in the store. malls seem pretty dead too. just a matter of time before retailers start going under en masse.
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