Retail Sales Plunge

[JTFrog]

http://www.msnbc.msn.com/id/19743590/

WASHINGTON - Consumers put away their wallets in June, sending retail sales crashing by the sharpest amount in nearly two years.

The Commerce Department reported Friday that retail sales fell by 0.9 percent last month, the biggest drop since August 2005. Demand for autos, furniture and building supplies all plunged.

The drop was much bigger than the flat reading that economists had been expecting. It raised new worries about consumer spending, which is closely watched because it accounts for two-thirds of total economic activity.

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Who can afford to go shopping like the media tells we're supposed to do? On the other hand, over-the-top luxury item sales soar. :shrug:

[Vinca]

1. I only buy stuff when it's an absolute necessity. It's not just the money,

it's the "Made In (insert name other than U.S.A.)" stickers.

[madokie]

3. I hear that

first thing I look for is where its made, if there is one of whatever it is I want made in USA I buy it no matter the cost. have never been disappointed either

[Clark2008]

11. I was feeding my daughter last night and noticed that the Gerber

baby bottle was made in the USA. I bought that bottle 8 years ago when my son was a baby. I wonder if Gerber still produces bottles in this country.

It's sad that I thought about that while feeding my infant.

:(

[rabies1]

18. How's finding things that are made in the USA working out for you?

I am the same way but it's almost impossible to find anything still made here.
Recently I went to the GO LEFT TV site and found out that large amount of sales profits from Pepsi, Barnes & Nobe etc go to the Republican party. Companies that give a lot of their profits to the Democratic party are Starbucks, Coke, etc. I used to love Pepsi and Barnes & Noble, now I drink Coke and go to Borders - they sell Starbucks coffee. I also avoid Walmart like the plague.

[Vinca]

21. That's good to know. I've never liked Pepsi and now I know why.

I've taken to shopping for old, "Made In the USA," clothes at rummage sales. It's surprising how many never worn items turn up for pennies. Of course, goes without saying, we draw the line at undies.

[blondeatlast]

22. Barnes and Noble? Not true; I worked for them for years and was in a position to know this.

They are very, very blue.

Can you link to the site so that I may straighten them out?

[rabies1]

23. It's called Spend your green on Blue.

goleft.tv
consumer advocate.
This one really hurt. My discount card expired there and to renew it I was told I'd have to pay like 30 dollars. I went to Borders and asked "when does your card expire"? She said "it never does and it's free".

[nonconformist]

24. Crap. I'm a Pepsi addict.

Maybe I should try to switch to Coke. Or just stop drinking pop altogether... but I don't know if that will happen.

[madokie]

2. retail sales, does that include fuel for our vehicles

[JTFrog]

4. Not sure

if it's included, but definitely affected by it.

Analysts are worried that a relentless rise in gasoline prices and a slumping housing market could trigger a slowdown in spending.

[JTFrog]

5. Pisses me off

to see that Walmart sales increase amidst all this.

[Atman]

6. That is hysterical...after the record high on WS yesterday, I heard it was great

That's all they could talk about on MSNBC, was that the strong performance of the stock market had to do with places like Wal Mart reporting increases. I'm usually on top of this stuff, but they sure had me fooled. MSNBC was putting out the rosiest happiest economic report I'd heard in months. Just goes to show ya...


.

[displacedtexan]

8. And didn't they claim consumer confidence was way up?

That's what I thought I heard.

Of course, I was screaming, "Lies! Lies! Lies,"
at the time.

[snappyturtle]

9. I heard the MSNBC buzz too.....and it just doesn't jive with

what I see going on here in my community. Life "as usual" is going on but it's slower. Businesses are surviving but they're not as busy. Lines shorter. Waiting times reduced. It's kind of eerie. More "sales"--earlier than normal and bigger discounting. We have had a Winnebago Vectra diesel motorhome for sale for several months here in vacationland. We've just reduced it way under Nada pricing and it one heck of a deal but still no takers. We have a new business and don't have time for it anymore.....seems like everyone is working harder and having less leisure time.

[Clark2008]

12. Factor in gasoline prices as a reason why that's not selling, too.

It's not just that people don't have time to vacation in a Winnebago anymore, it's also that no one can afford to gas it up.

My neighbors are also trying to sell a motor home with no luck. Right now, they're using it as an "extra" room for their grandkids (and my son) to play video games in.

[snappyturtle]

15. Yes you're right. I've been watching big websites selling motorhomes

and find that we're lucky in one respect that ours is diesel and gets 12 mpg loaded....the diesels are out selling the gasoline models....so I'm keeping my fingers crossed.

[Atman]

17. My friend was looking to buy a boat because they're at fire-sale prices now

When you measure fuel consumption in "Gallons per hour" you know you're in trouble. He shopped around and found some great deals and finally told us last week that it didn't make any sense. He's a professional that makes good money, but he said the thought of having to fill up with a couple hundred gallons of marine fuel ($4-5 gallon) just to spend a day on the water...yikes.

.

[demnan]

7. Even Republicans are pissed

People aren't gonna buy any more shit from China after they poisoned our pets.

[spinbaby]

10. Wait a minute...

Last night on the news they were reporting that the stock market hit some kind of a record high because retail sales were up.

What happened?:shrug:

[snappyturtle]

16. Price of oil up? n/t

[OHdem10]

13. Kudlow , Business program

expounding on great the economy is---I got the impression
that Retail Sales were up.

This post proves a point I have been arguing. "Over the top
luxuary items sales soar."

When they comment on how wonderful the economy is, they are
really concerned and reporting for those Americans who make
One-Hundred Thousand dollars per year. (individuals who earn this).

The 70+percent of Americans who do not have these earnings (salry, etc)
are not the concern of leaders or business reporters.

[MrMickeysMom]

14. Agree... in fact, isn't it evident by negative savings that we consume...

too damn much?

I'd like to take my 165 thousand mileaged (yep, it's a Jeep) off the road and buy a hiybrid... but I'm trying to survive!

Jesus, the economists are as much to blame over this "surprise" as all the marketing whores...


Buy! BuY! Buy!

My response - No! No! No! Unless I absolutely need, need, need! :headbang:

[Javaman]

19. Why do consumers hate america? nt

[tjwash]

20. Didn't they say the high stock market finish yesterday was because of the opposite.

[Rosemary2205]

25. I can't afford anything but housing, food, basic transport and medicine.

Food has gone up so much in the last 6 months that I've had to give up my little luxuries, like makeup and nice hair.