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alstry (35.96)

Retail Continues in Reverse

Recs

21

August 06, 2009 – Comments (24)

The following are reported EVEN THOUGH consumers are paying much lower prices for fuel this year vs. last.

 

Abercrombie & Fitch July same-store sales down 28%

American Eagle July same-store sales down 11%

Gap July same-store sales down 8%

Dillard's July same-store sales down 12%

Aeropostale July same-store sales up 6%

Limited Brands July same-store sales fall 7%

Urban Outfitters quarterly same-store sales fall 6

Stage Stores July same-store sales fall 11.9%

Costco July comparable-store sales fall 7%

BJ's July same-store sales down 9.1%

Target July same-store sales down 6.5%

Even after the fuel stimulous, sales keep falling.  With consumers being the driver of the economy, it is clear government needs to become the reliever.  Unfortunatey, government is running out of money too.

But the money keeps flowing into Wall Street.

Wall Street banks and lawyers could collect nearly $1 billion in fees from the New York Fed and AIG to help manage and break apart the troubled insurer, according to a Wall Street Journal analysis.

While flows out of the rest of the country:

Public employees and members of several Detroit labor unions threatened to strike Wednesday in response to Mayor Dave Bing's plans to trim the city's budget through furloughs, layoffs and union concessions.

We are getting to the point where if you aren't getting a check from the Fed or government, many may get desperate for money.

After a string of street robberies on a recent Saturday night left midtown businesses shaken, city and police officials scrambled to attack the issue before it became a public relations nightmare.

http://www.sacbee.com/topstories/story/2086809.html

Soon you too will realize, unless we restructure debt...our cites, counties, states, school districts, hospitals, families and businesses are in serious trouble....except if you are a friend of Benny the B.

24 Comments – Post Your Own

#1) On August 06, 2009 at 8:37 AM, alstry (35.96) wrote:

Headline:

U.S. initial jobless claims fall to 550,000

FALL???  No jobless claims are still OVER 500K.

Do you think retail sales are crashing(after heavy discounting) because jobless claims going down?

JCPenney July same-store sales fell 12.3%

Saks July same-store sales fell 16.3%

 

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#2) On August 06, 2009 at 8:40 AM, alstry (35.96) wrote:

This NEVER makes the headline:

WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits declined by 38,000 to 550,000 last week, while the number of people who continued to collect benefits rose by 69,000 to 6.31 million the prior week...

Nordstrom July same-store sales down 6.9%

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#3) On August 06, 2009 at 8:46 AM, alstry (35.96) wrote:

This won't help the numbers for next week. 

TAYLOR BEAN MUST CEASE ALL ORIGINATION OPERATIONS EFFECTIVE IMMEDIATETLY

 

About 5,000 people were reportedly laid off at the close of business yesterday and the company has essentially shut down.

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#4) On August 06, 2009 at 9:37 AM, russiangambit (29.32) wrote:

What is up with the willful ignorance about the state of the economy? On one hand the media tells us the recession is over, on the other hand the analyst expect 584K jobless claims and 550K is touted as a good number.  You can't have it both ways, either it is bad or it isn't. Claims over 500K is bad.

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#5) On August 06, 2009 at 9:55 AM, alstry (35.96) wrote:

Willful is definitely on point.......ignorance I doubt.

Just wait until the American people figure out that the American gGovernment can no longer afford to pay Social Security, Medicare, Medicaid, Welfare, and Unemployment while still paying for defense and maintaining an employment base of over 20,000,000.

Yes....change is coming......my guess is most will be shocked as they are lulled into complacency as Wall Street concentrates all the nations wealth.

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#6) On August 06, 2009 at 9:57 AM, Upstar75 (< 20) wrote:

The analysts work for government institution and financial firms who actually this time around created this mess. Yesterday Lloyds TSB in UK posted £3.9 billion in loss but analyst had expected the loss to be £5.0 billion. Shares has jumped 30% ….this is crazy because if you expect a loss then shares rationally should have gone down before news break but Lloyds have steadily increased for 3 weeks prior to the news. Crazy.  

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#7) On August 06, 2009 at 10:26 AM, mikecart1 (98.78) wrote:

They could say 1,000,000 job losses and the stock market would still go up.  We are dealing with stupid investors people.  I say give good news and say the economy is healed.  Maybe that will make the stock market go down for once!

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#8) On August 06, 2009 at 10:46 AM, jddubya (< 20) wrote:

Soon you too will realize, unless we restructure debt...our cites, counties, states, school districts, hospitals, families and businesses are in serious trouble....

I realize this...

But...even if the 65k + caps members came to this...ummm... realization...

SO WHAT!?!??!?!  WHAT THEN?!?!!? 

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#9) On August 06, 2009 at 11:02 AM, MGDG (34.61) wrote:

Let's see, Revenue is falling, Profits are falling, the number of unemployed is increasing, the number of unemployed losing benefits is increasing.

The toxic assets on balance sheets is being hidden, the government is handing out money as if it were candy. That money is being used for speculative trading instead of creating jobs.

Yep, sounds like a real solid base for a recovery, except the government is the only one spending money. Uh wait, their spending our money.

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#10) On August 06, 2009 at 11:03 AM, alstry (35.96) wrote:

It is a simple fundemental quesiton of fairness.  If you have tens of millions of Americans on the streets jobless and broke, and a few Wall Street bankers holding practically all of the nations wealth because government gave it to them from the taxpayers pockets....not through the merits of their labor or ingenuity...

What do you think our society will degenerate into.....?

What most people fail to account for was during The Great Depresssion, there was little government welfare, the society was adjusted to those conditions.....if we go back to that after years of governmet dependency without safety nets in place.....

Our nation will fall into total anarchy....and the anger to the few with money will be unprecedented as the division between the haves and have nots will be unprecedented and concentrated into so few.

This is basic psychology.

Knowing this and proceeding forward is sociopathic, not much different than Madoff knowing what would happen to the psyche of his clients once they found out he was a fraud. 

The question now is where is our nation heading?    9.09

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#11) On August 06, 2009 at 11:33 AM, davejh23 (< 20) wrote:

Now analysts are saying that the clunker cash will take money away from back-to-school and holiday shopping.  So, we'll see artificially inflated numbers for durable goods purchases for Q3, and then they'll drop off...AND, since all these people that shouldn't be buying new cars will have big car payments now, they have no disposible income left.  We may not continue to see such large declines in revenues into next year and beyond, but sales will continue to be weak for some time.

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#12) On August 06, 2009 at 11:37 AM, davejh23 (< 20) wrote:

Alstry,

Do you have a link to the Taylor Bean article?  I saw an article on Tuesday about fraud investigations, no new FHA loans, and Ginnie Mae potentially taking over, but I haven't seen anything new since then. 

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#13) On August 06, 2009 at 11:42 AM, jddubya (< 20) wrote:

The question now is where is our nation heading?    9.09

Well - you've already proclaimed the dow would be 555 by 9.09 - so how do you answer your own question?

My answer (which I will call an uneducated guess) is... "sideways"

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#14) On August 06, 2009 at 11:51 AM, alstry (35.96) wrote:

davejh,

http://market-ticker.denninger.net/

 

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#15) On August 06, 2009 at 11:59 AM, mikecart1 (98.78) wrote:

#13, WHAT?

555 in a month?  What does that mean?  Do you mean 5550?  ????????????!!!

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#16) On August 06, 2009 at 12:28 PM, russiangambit (29.32) wrote:

Well, retailers like  M and GPS and JCP are up significantly today on projected better earnings next quarter, no matter that their sales this quarter are down 10-15%. let me see, if sales are down 10% for 3 quarters in the row and then they are up 2%, that is a reason to celebreate , for sure. Unbelievable.

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#17) On August 06, 2009 at 12:34 PM, alstry (35.96) wrote:

russian,

With revenues declining....everything in the real world is declining...wages, taxes, rents etc......

Any recovery next quarter is an illusion simply because deterioration is accellerating.  We have been hearing about a recovery now for a few years and no recovery has appeared.

As I have stated, if we proceed down the current path, the next phase could rip our country apart if we don't put safety nets in place.

You simply can't cut people off of welfare, remove them from prison, and fire them from their jobs without prospect for income and not expect distruptions.  Especially if you are firing public safety officers as well.

This situation is not much different than preparing for Katrina....IN ADVANCE of it hitting shore.

Based on the current path, and current behavior....it is no longer a question of if......simply when.

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#18) On August 06, 2009 at 12:56 PM, BlkAngus10 (33.41) wrote:

Alstry you do a lot of talking about 9.09. If September passes with no anarchy in the streets, no complete colapse of society, will you promise to never utter another word on this site again? All you do is try to terrify people and it is not productive. I mean really- how's that whole stock market/society collapsing thing been going for you lately?

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#19) On August 06, 2009 at 1:16 PM, alstry (35.96) wrote:

Blk.

Yup.

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#20) On August 06, 2009 at 1:28 PM, Tacomatight (69.05) wrote:

Thats BS. Of course you won't stop. You don't have a job. If you did you couldn't keep writing all these long diatribes about world collapse. You aren't investing real money because if you were you would have been wiped out several times over with your shorts you've been calling since April. Be honest about your insanity at least. It''s part of the healing process...

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#21) On August 06, 2009 at 1:31 PM, alstry (35.96) wrote:

Watch....;)

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#22) On August 06, 2009 at 1:34 PM, Tacomatight (69.05) wrote:

This is nothing but a big game to you. I've got real money riding on this whole thing. I don't like posers around when ther is money on the line.

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#23) On August 06, 2009 at 3:08 PM, jddubya (< 20) wrote:

#15 - ooops!  sorry about that.

Alstry[nomics] has predicted S&P 555 by 9.09.

I predict this Alstry[nomic] prediction will go the same way as the call of the top at 8300 in April - HORRIBLY WRONG.

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#24) On August 06, 2009 at 8:15 PM, millionby24 (< 20) wrote:

The kid is a joke, he knows NOTHING

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