[tokyo_to_motueka]

Retail Sales Plunge in August

$this->bbcode_second_pass_quote('', 'B')y THE ASSOCIATED PRESS
Published: September 14, 2005

WASHINGTON (AP) -- Retail sales plunged in August by the largest amount in nearly four years, evidence that the economy was weakening even before Hurricane Katrina struck.

The Commerce Department reported Wednesday that total sales fell by 2.1 percent last month, double the decline that analysts had been expecting. The weakness came from a big 12 percent drop in sales of autos. Excluding autos, retail sales rose 1 percent, but much of that strength reflected a rise in gasoline prices.

[LadyRuby]

Finally some economic numbers that make a little sense.

[frankthetank]

I think the last thing holding this economy together is the retail buying consumer. Once the consumer leaves, the party is over.

GM & Ford are doomed...

[ejacob3]

DOOMED! Better get right with Jesus and hold your breath for the Rapture.

[falser]

From the CNN article:

$this->bbcode_second_pass_quote('', '"')In general, the economy is proving to be resilient to energy and gas price pressure. It's on a growth path," Englund said. "Even though oil prices are higher, the fundamentals of the economy are strong. Therefore, we see consumers' savings rate falling and spending up."

[LadyRuby]

$this->bbcode_second_pass_quote('falser', 'F')rom the CNN article:

$this->bbcode_second_pass_quote('', '"')In general, the economy is proving to be resilient to energy and gas price pressure. It's on a growth path," Englund said. "Even though oil prices are higher, the fundamentals of the economy are strong. Therefore, we see consumers' savings rate falling and spending up."

[FoxV]

and keep this in perspective that august is usually a pretty big month for retailers because of the back to school shopping

[rogerhb]

$this->bbcode_second_pass_quote('falser', '
')$this->bbcode_second_pass_quote('', '"')In general, the economy is proving to be resilient to energy and gas price pressure.

[pup55]

$this->bbcode_second_pass_quote('', 'T')he biggest increase in spending in August occurred at service stations, a 4.4 percent increase that reflected gasoline prices that have soared past $3 per gallon in many parts of the country.

[drattom]

$this->bbcode_second_pass_quote('', 'Q')uote:
"In general, the economy is proving to be resilient to energy and gas price pressure. It's on a growth path," Englund said. "Even though oil prices are higher, the fundamentals of the economy are strong. Therefore, we see consumers' savings rate falling and spending up."


They make it sound like it's a good thing people are spending every penny they make to prop up the economy. Nowhere mentioned is the inevitable fallout from an economy like this. So don't worry everybody, just keep spending and don't worry about the future.

[mgibbons19]

$this->bbcode_second_pass_quote('drattom', 'T')hey will probably remove all commodities from cpi because of the reconstruction of New Orleans.
I predict that in January, the inflation will be in control because the CPI will exclude everything but raining water, snow and air.

[knightrd]

They've been fudging economic numbers for a long time now. It's not just something they started doing under the Bush administration.

I've been telling people for a while that savings need to go up while spending goes down. We can't possibly continue to prop the economy up for the robberbarons. I believe very strongly in living a life without credit. A mortgage being the one exception that I can think of.

I can't believe the American public is so brainwashed into believing that this SPEND SPEND SPEND lifestyle can be maintained. I hope more people see the light in time. However, I'm surrounded by people who believe Faux News is the most reliable news source in the world.

[RdSnt]

$this->bbcode_second_pass_quote('knightrd', ' ')I hope more people see the light in time. However, I'm surrounded by people who believe Faux News is the most reliable news source in the world.

[tokyo_to_motueka]

tracking US retail sales, including certain key sub-categories, between now and Christmas could be mighty interesting.

[cube]

$this->bbcode_second_pass_quote('RdSnt', '.').............
BushCo. is going to make some pretty huge concessions to the Chinese, essentially turning their back on Taiwan and Japan. They have no choice, China is too big now and holds the American mortgage.
.............