Retailers Report a Sales Collapse »
Posted By engineer 1 year, 1 month ago in Business & FinanceSales at the nation's largest retailers fell off a cliff in October, casting fresh doubt on the survival of some chains and signaling that this will probably be the weakest Christmas shopping season in decades.
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engineer
Hi
My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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Teech1 year, 1 month ago
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Jeez! Ya' mean all that money that was supposed to trickle down ain't gonna?
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What happened to those trillions in tax cuts that were supposed to trickle down and electrify the economy.
Maybe the 1% ultra rich Bush cronies will bring back some of that offshore, untaxed money and buy a few Chrismas presents!
Do ya' think? -
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willottica1 year, 1 month ago
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For how long have retailers been surviving by selling stuff that people don't need?
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Do you really need a 32" wide-screen TV? HD?
A new pair of shoes?
A new shirt?
When your chief consideration on making a new purchase is want over need, then when recession comes, the wants stop resulting in purchases. And if that was the majority of purchases, and the economy is based on sales of these frills, then you're in for a REALLY rocky ride.
The recent collapse has been a wake-up call to many. Overleveraged on credit-cards and lines of credit, many consumers are saying "Enough!" I know I, for one, will not be buying many 'extras' until I have completely paid off my not-inconsiderable consumer debt -- and I've never been one to spend frivolously! With 5-10 years of discipline and hard work, I can get back in the black. I WILL get back in the black. If others are like me, that's 5-10 years of slow consumer sales of the kind of frills that people just don't need.
And personally, I hope that a lot of people are like me. It will mean hard times for many, but if the majority get rid of their frivolous spending habits and get back to working within their budgets, then the economy will be far less fragile going forward.
Why is the current downturn so severe? Because financial companies promoted borrow-borrow-borrow to spend-spend-spend and pay it off later. And we listened. Now, there's no room left to borrow to pay bills, so the bills go unpaid, the mortgage collapses, the credit cards default, and the banks are soon going to realize that the shopping spree they urged us to borrow for might end up being THEIR burden to pay for. -
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willottica1 year, 1 month ago
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Kids songs can be great. Ring-Around-the-Rosie was about the Black Plague, what do you think was the inspiration for this one?
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Round and round the cobbler's bench
The monkey chased the weasel,
The monkey thought 'twas all in fun
Pop! Goes the weasel.
A penny for a spool of thread
A penny for a needle,
That's the way the money goes,
Pop! Goes the weasel.
A half a pound of tupenny rice,
A half a pound of treacle.
Mix it up and make it nice,
Pop! Goes the weasel.
Up and down the London road,
In and out of the Eagle,
That's the way the money goes,
Pop! Goes the weasel.
I've no time to plead and pine,
I've no time to wheedle,
Kiss me quick and then I'm gone
Pop! Goes the weasel.
I think the weasel has gone "Pop"! -
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canadianrancher571 year, 1 month ago
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When things go down it is just like when they go up, people develope a mentality that today is bad and tommorow will be worse. I imagine that alot of people who pick up part time jobs for the Christmas season will find getting that job a little harder this year.
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There is a lesson to be learned from this and it has to do with what willottica mentioned, there is a big difference between wants and needs and maybe it is time we all learned the message.
I get a kick out of the statement about the $250 diamond earrings selling for $77.99, to me it is $77.99 dollar earrings selling for $250, we all know that things are sold for a profit but seldom do we realize how much profit some items bring. -
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Justice4All1 year, 1 month ago
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Can't we just turn on FOX news and hear that the economy is great and that we are winning in Iraq and that Bush is the best president ever? This has kept the FOX news crowd happy for at least the last 5 years and nothing has really changed.
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