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  1. #1
    Join Date
    Sep 2002
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    2,887

    No Jobs But People Are Spending

    The one of many retail companys that just reported blowout numbers,Bed Bath & Beyond.As I post this the stock is up over 4% in after hour trading,and should drive the retail sector higher.My point is BBBY sells stuff you dont really need,just like Best Buy,Sears,and Nike.Makes me think how can this happen with 9.7 unemployed.All above had great numbers top and bottom.

  2. #2
    Join Date
    Jan 2006
    Location
    Near Atlanta, GA.
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    14,621
    That's how recoveries happen. Consumer spending (retail sales) has to rise before employers start hiring again. Jobs are always on the tail end of a recovery.

    There are signs of some recovery, but I'm still concerned about falling back into recession because of the crap coming out of Washington.

    Fingers crossed

  3. #3
    Join Date
    Feb 2009
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    Canada
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    6,876
    Say you have 10% unemployment where you used to have 5% unemployment.

    Before you had 95% spending. For a while people were cutting back on spending because they did not know if they would loose their job. Well things are looking better so the 90% are now picking things up a bit.

    Not a surprise.


    Not 100% accurate might help explain things.

  4. #4
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    Quote Originally Posted by coolperfect View Post
    The one of many retail companys that just reported blowout numbers,Bed Bath & Beyond.As I post this the stock is up over 4% in after hour trading,and should drive the retail sector higher.My point is BBBY sells stuff you dont really need,just like Best Buy,Sears,and Nike.Makes me think how can this happen with 9.7 unemployed.All above had great numbers top and bottom.
    I think the correct wording is that there are no jobs where you live. We are doing fine up here and looking for people who are willing to work and get off of unemployment or welfare. THAT is the issue up here...lazy people looking for a handout and complaining about the economy.

  5. #5
    Join Date
    Feb 2009
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    Canada
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    Quote Originally Posted by pdrake65 View Post
    I think the correct wording is that there are no jobs where you live. We are doing fine up here and looking for people who are willing to work and get off of unemployment or welfare. THAT is the issue up here...lazy people looking for a handout and complaining about the economy.
    Just curious, what kind of jobs are doing well there?

  6. #6
    Join Date
    Sep 2002
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    2,887
    Quote Originally Posted by k_fridge View Post
    That's how recoveries happen. Consumer spending (retail sales) has to rise before employers start hiring again. Jobs are always on the tail end of a recovery.

    There are signs of some recovery, but I'm still concerned about falling back into recession because of the crap coming out of Washington.

    Fingers crossed
    We now agree, I said in many of my posts that employment would be the last to come back,and construction even later.I also agree with the second part of your post,This guy does not understand business He spent all this time on health,and put jobs on the back burner.We are getting good numbers from all places,but it wont hold if OB has his way.

  7. #7
    http://www.aim.org/aim-column/print/...ancial-crisis/

    Still want to bet the market when 3 to 4 trillion is sitting on the sidelines.


    Stop looking at the figure head and look to the "head" behind the figure.

  8. #8
    Join Date
    Feb 2008
    Posts
    1,275
    The stock market is a poor indicator of how well an economy is moving along. Right now another stock bubble is forming, it is a classic pump and dump trying to lure retail investors into the markets. One day soon, the stock market will crash again and all the major brokers will have their money on the short side. Think of all the extra cash the governments of the world have printed in the last couple of years, it has to go somewhere and right now it is going into stocks. Some stocks are up 200-300% from their lows, does that even make sense?

    Inflation is on its way, and trouble is brewing if they have raise interest rates to calm inflationary pressures. Imagine all the people who are on the margins with their mortgages, then they wake up and their rates are no longer 4-6% they are 12-20%. That is going to be a troublesome time. Or on the flip side you have deflation, which is equally disasterous.

  9. #9
    Join Date
    Sep 2002
    Posts
    2,887
    We are in just about the same position as we were in 1993.The differance now is Housing,more unemployment,and the deficet.It is now in The goverments hands.If they do right we will be good to go for at least 5 years.As far as the stock market goes,wall street will be pacient for a time.There is no other place to put your money,what is the CD rate 1.25%

  10. #10
    Join Date
    Feb 2009
    Location
    Canada
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    6,876
    Quote Originally Posted by coolperfect View Post
    We are in just about the same position as we were in 1993.The differance now is Housing,more unemployment,and the deficet.It is now in The goverments hands.If they do right we will be good to go for at least 5 years.As far as the stock market goes,wall street will be pacient for a time.There is no other place to put your money,what is the CD rate 1.25%
    Are you sure we have been here before?

    http://hosted.ap.org/dynamic/files/s...O&SECTION=HOME

    Looking at the figures I think I know where your debt came from.

  11. #11
    Join Date
    Feb 2005
    Location
    Dothan, Al
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    3,453
    Quote Originally Posted by coolperfect View Post
    We are in just about the same position as we were in 1993.The differance now is Housing,more unemployment,and the deficet.It is now in The goverments hands.If they do right we will be good to go for at least 5 years.As far as the stock market goes,wall street will be pacient for a time.There is no other place to put your money,what is the CD rate 1.25%
    I don't know guys...
    I still feel the economy is going to drop further with unemployment going higher.
    I believe that this new spending of which you speak is more about the beginning of the summer & tax return time, when people are starting to be able to get out more...so just for something to do, many will shop.But I'll bet their shopping with credit cards, not cash....IOW: this is just a short-term increase.
    I think we will KNOW by the end of summer, August, Sept., if the recovery is really on or it is just a figment of the governments temporary employment & tax credits....
    I believe it will temporary...
    But saying that, my business is booming right now...We've got more work than I want right now....so I hope it is the real thing & not temporary...but I fear the worse...

    Richard
    Lets get H.I.G.H. http://www.theletsgethigh.com
    Honesty, Integrity, Gallantry, Honor

  12. #12
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    Jul 2009
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    Quote Originally Posted by printer2 View Post
    Just curious, what kind of jobs are doing well there?
    Construction is booming at the housing and business level...All aspects of the trades. Help Wanted signs everywhere. We are just not seeing this problem here. The lower paying jobs are being filled by Mexicans and Puerto Ricans ( legally ,I hope!) because nobody wants to work them.Minimum wage is $8.25 an hour.

  13. #13
    Join Date
    Aug 2001
    Location
    forney texas
    Posts
    17,890
    Housing is picking up. I can drive around my little town and count 40-50 new home going up, one is one the street I live on and the lot has been vacant for 8 years.
    I got a new boat.

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