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Making it difficult for the doom and gloomers
I know that they are hoping for the worst but it much better than the 0%-3% that the talking heads on CNN predicted.
Holiday retail spending up 8.7 pct: report Mon Dec 26, 2005 9:23 PM ET NEW YORK (Reuters) - U.S. consumers spent 8.7 percent more during the just ended holiday shopping period than in the comparable period a year ago, according to a report from an affiliate of MasterCard Inc., the Wall Street Journal reported in its online edition on Monday. The study, by SpendingPulse, covered the period from the Friday after the U.S. Thanksgiving holiday through December 24, Christmas Eve. That period included 30 days in 2005, compared with 29 days in 2004. The report found the biggest increases in spending on home furnishings, up 15.2 percent, followed by consumer electronics and appliances, up 10.5 percent. Spending on jewelry was down 4.6 percent. The report covers spending in stores and on the Internet, and includes food sales. It excludes spending on autos and gasoline. |
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what if.. the government is rewriting some of the records from last year and destroying all traces of the old records to make us think we are doing good.. like in George Orwell's 1984....
Last edited by TheDon; 12-27-2005 at 09:12 AM. |
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New-home sales tumble 11.3% in November
WASHINGTON (Reuters) — Sales of new homes fell 11.3% in November, biggest decline in nearly 12 years, as the number of houses for sale hit a record high, according to a government report on Friday that offered more evidence of a cooling housing market. |
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What if....
The gov sends out mind-controlling waves that inform us of what to think. They're called, "Cheney Waves." |
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New home sales will take an even harder hit this spring when Katrina rebuilding gets into full swing but existing homes sales will make up for it. |
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Not enough rich people left to pay the prices....popgoes the bubble. You can't keep up 25% + anual price increaces when peoples paychecks barely increaced much more than 3-5% over the same period.
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
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Graph
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Leave Real Estate issues to people who are in the Real Estate business. |
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This RE explosion is fascinating. People feel good about the increase in their homes value and go spending. We had not seen it in a major way until it slowed other places. Six months ago building lots were 20/35 up to megabucks in the foothills - now starting at 60/75 on the low end. The result - the entire town bought a new car or truck from the looks of the parking lots at the malls over Xmas.
It's going to be an interesting show to watch. Those poor slave labor Chinese are saving at almost 45% of income and we're on average at deficit savings if you don't include appreciation in residences. This morning two year money is earning slightly more than five year. Adds for furniture and carpet with no payment until 2007 abound. If there is any historical precedent to look to for ideas I'd like to know about it?
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89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
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I'm not a gloom and doomer but from what I read in the papers most of this spending is done via credit card. According to the seattle times, the US personal savings rate is 0 and consumer debt is $2.2 trillion - about double what it was 10 years ago. I guess the question is, how long can this go on?
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I'd rather argue against a hundred idiots, than have one agree with me. — Winston Churchill |
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I use savings account for my kid's accounts. I keep a checking acct and a small savings acct so I can have a cheap credit card and free checking. The rest of my money goes into my 401k or to a non-retirement mutual fund family managed (reliably profitably!) by Edwd D Jones. I don't have the sense to manage my own investments and I'm willing to pay them a fee. I still make WAY more than anything a bank can offer. |
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