Lowest holidays retail sales since 1969 sparks sell offs

[SSSnail]

Retail drops 2.7%, Wall Street was expecting 1.2%.

For the entire year, retail sales were down 0.1 percent, a stark turnaround from a 4.1 percent gain in 2007. It was the first time the annual retail sales figure has fallen on government records going back to 1992. The December tally also represented a record string of sixth straight months of decline.

The bleak numbers help spark a big sell off on Wall Street with the Dow Jones Industrial Average down more than 250 points Wednesday morning.

Needless to say, everybody is jumping the shark. Me thinks for the most part it's overreaction, and most of this is also driven by the media as it created a sense of panic and "hold on to your money" sentiment, therefore in itself created the drop in sales. It's a chain reaction to all areas of the economy, and hopefully this will be corrected soon.

 

[NeoV]

right, it's the media's fault...

despite "It was the first time the annual retail sales figure has fallen on government records going back to 1992. The December tally also represented a record string of sixth straight months of decline. "

 

[alien42]

the pain has just begun.

 

[daveymark]

Originally posted by: alien42
the pain has just begun.

the pain hasn't even started yet.

 

[Fern]

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

 

[senseamp]

Go out there and buy something, hopefully made and/or designed in the USA. Otherwise this economy is gonna tank real bad. Companies are going to fire a lot more people unless their revenues recover.

 

[imported_Imp]

Well, I didn't buy much this year. I spent $30 on Christmas gifts, and even on Boxing day, I only spent a whopping $15. Most of my shit's going in the bank.

 

[DisgruntledVirus]

Originally posted by: daveymark

Originally posted by: alien42
the pain has just begun.

the pain hasn't even started yet.

It's the self-induced pain of knowing how much real pain is coming

 

[mugs]

Originally posted by: Fern

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

Yeah, I'm not sure where the 1969 is coming from.

 

[Balt]

I've been going around to various retailers recently because I'm at the point I basically have to buy some new clothes (as much as I hate shopping). To be honest I haven't really noticed many good deals at all. If retailers are desperate they really aren't showing it yet.

 

[IceBergSLiM]

Not everyone has even reported holiday sales yet wait until feb. for the real bad news.

 

[dullard]

Originally posted by: SSSnail
Needless to say, everybody is jumping the shark. Me thinks for the most part it's overreaction, and most of this is also driven by the media as it created a sense of panic and "hold on to your money" sentiment, therefore in itself created the drop in sales. It's a chain reaction to all areas of the economy, and hopefully this will be corrected soon.

Yes, it is a chain reaction. But, to ignore the possibility for bad times can be far worse than a self-fullfilling prophecy of bad times. The great depression was marked by ONLY a 10% drop in consumer spending. At least initially government and business spending was UP. That 10% drop meant everything. We are now at a 2.7% drop, the only drop on record for end of the year retail sales (note this record only goes back to the early 1990s).

Of course, the great depression had other factors (deflation, etc). But the biggest factor was 10% drop in spending by consumers.

 

[BoomerD]

Gottschalks, which has been in businsess for over 100 years filed chapter 11 yesterday.

The writing's been on the wall for quite a while, and after their planned $39 million cash infusion from some Chinese backers fell through...it was only a matter of time.

I'm not really surprised at their demise. Product quality has been declining quite a bit over the past several years as they bought more and more crap from China.

It's gotten to the point where we stopped buying anything there. Almost like they're a "high-end Wal-Mart."

 

[ericlp]

Originally posted by: senseamp
Go out there and buy something, hopefully made and/or designed in the USA. Otherwise this economy is gonna tank real bad. Companies are going to fire a lot more people unless their revenues recover.

Buy something made in the USA? Where do you find that?

 

[BigJelly]

Originally posted by: mugs

Originally posted by: Fern

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

Yeah, I'm not sure where the 1969 is coming from.

I was thinking the same thing and that's why I entered the thread. He should explain himself of lock the thread.

maybe he's using statists like democrats on school spending: when a republican increases a school's budget by 10% and the democrats scream that the republican is a cutting school spending because last year school spending increased 15%.

So the last year that holiday sales fell the same percentage was 1969.

 

[Sedition]

Originally posted by: BigJelly

Originally posted by: mugs

Originally posted by: Fern

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

Yeah, I'm not sure where the 1969 is coming from.

I was thinking the same thing and that's why I entered the thread. He should explain himself of lock the thread.

maybe he's using statists like democrats on school spending: when a republican increases a school's budget by 10% and the democrats scream that the republican is a cutting school spending because last year school spending increased 15%.

So the last year that holiday sales fell the same percentage was 1969.

Sigh. You couldn't just put politician and opponent in there? You had to be a partisan douchebag?

 

[Schadenfroh]

Originally posted by: ericlp
Buy something made in the USA? Where do you find that?

Your local gun shop.

 

[BigJelly]

Originally posted by: Sedition

Originally posted by: BigJelly

Originally posted by: mugs

Originally posted by: Fern

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

Yeah, I'm not sure where the 1969 is coming from.

I was thinking the same thing and that's why I entered the thread. He should explain himself of lock the thread.

maybe he's using statists like democrats on school spending: when a republican increases a school's budget by 10% and the democrats scream that the republican is a cutting school spending because last year school spending increased 15%.

So the last year that holiday sales fell the same percentage was 1969.

Sigh. You couldn't just put politician and opponent in there? You had to be a partisan douchebag?

well i used a real world example to take a cheap political shot (one that's true I might add) while explaining how the OP might have gotten the 1969 referance.

So if being a partisan douchebag is explaining the OP's comment with a well used and known REAL world example, then I'll take that as a compliment .

 

[PokerGuy]

Originally posted by: mugs

Originally posted by: Fern

Originally posted by: SSSnail
Lowest holidays retail sales since 1969 sparks sell offs

Your thread title appears to be so completely erroneous it begs comparison with another well-known poster whom I won't mention out of politeness.

Lat months retail sales only fell 2.7% That can't possibly translate into the lowest sales since 1969.

If 2008 annual retail sales fell only .01% (compared to 2007), and 2007 rose 4.1% (compared to 2006) then 2008 sales were higher than 2006 by 4.0%. Right?

I suspect if the figures were provided for holiday sales we'd see a similar result (I.e., 2008 holiday retail sales still above 2006).

Fern

Yeah, I'm not sure where the 1969 is coming from.

I believe what is being said is that the year over year percentage drop is the largest since 1969, not that the actual level is the same as 1969.

 

[newmachineoverlord]

Originally posted by: ericlp

Originally posted by: senseamp
Go out there and buy something, hopefully made and/or designed in the USA. Otherwise this economy is gonna tank real bad. Companies are going to fire a lot more people unless their revenues recover.

Buy something made in the USA? Where do you find that?

e85 is made in the US. The problem is that most cars can't use it, and none of the cars that get decent mileage can use it.

 

[StageLeft]

Originally posted by: newmachineoverlord

Originally posted by: ericlp

Originally posted by: senseamp
Go out there and buy something, hopefully made and/or designed in the USA. Otherwise this economy is gonna tank real bad. Companies are going to fire a lot more people unless their revenues recover.

Buy something made in the USA? Where do you find that?

e85 is made in the US. The problem is that most cars can't use it, and none of the cars that get decent mileage can use it.

And the cars that use it were probably made in Ontario anyway.

The best advice at the moment is to baton down the hatches on one's finances and spend as little as possible, even if the economy as a whole acting in a similar way suffers by it.