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In my case the health insurance premium went up by 90 dollars per month and that has to come out of other spending. Stores can expect 1080.00 less spending per year by this consumer.
Its because of inflation. Too much money out there chasing too few goods. All you have to do is look at the empty shelves to know its inflation.
I always wondered why they weren't blocking the streets with pallets of hundred dollar bills during the protests...There is just too much money. We don't want it all. We are being smothered with it.
I don't see that downturn here in my local area, as for Target they were, and still are, moving in dubious directions with regard to strategies and store placement. I've been aware of a kind of economic shrinkage in the retail space, but most businesses have already made the required adjustments to inventory and employment, the result has been a noted economic marginalization of millions of American workers over the last six years or so. Many of the jobless are done in the workplace, they have seen their work go away or become mechanized, retail of course would be the first place we'd see the chickens come home to roost in regards to those sad employment stats.
My wife and I clamped down the hatches several years ago in anticipation of a continued recession and ZIRP policies. A few points:
As wealth becomes more and more concentrated the bottom 99% have less and less to spend thereby ensuring a deteriorating economy. Wealthy people do not by goods and services, they but hard assets.
The economy has been treading water but inducing people to borrow from the future whether it be lands for homes, autos, tuition, credit card etc. Families have run out of the ability to borrow from the future especially given the persistent low wage climate.
All of this is engineered by the Federal Reserve. It is obvious what is happening but like the low life they are they persist until every last ounce of blood is drawn out of the 99%.
It has gotten so bad that the Republican Party had become the biggest basher of greed on Wall Street and the disgusting policies of the Federal Reserve. Go figure but people are really fed up with the solution that the Feds are providing, I.e. borrow more!
Face it, stocks and commodities going down. The Fed is trying to get inflation going and is failing. We're in a long term recession/ depression. Fed anticipation of a rate hike will probably decrease in the next month or so. Hang on to your shorts, this could be a rough ride.
Face it, stocks and commodities going down. The Fed is trying to get inflation going and is failing. We're in a long term recession/ depression. Fed anticipation of a rate hike will probably decrease in the next month or so. Hang on to your shorts, this could be a rough ride.
The Fed is putting another reel of cartoons in the projector. It knows what its doing....
I know it sounds counter intuitive (at least it must to OUR corp execs) but I think the best thing for these chains to do is to re-invest in their payroll. The only way they're going to stay at all competitive with online is to offer better, faster, and more personal service. Unfortunately they seem to have spent too long going in the other direction with cutting budgets and cutting staff as if they think they can compete on price alone.
I agree with you DubbleT, and I'll throw one more into the pot: interest rates need to go up. It is going to crush big ticket purchases in the interim, but super-low rates are exactly why homes and real estate, and auto prices, and tuition, and other big expenditures keep going up up up. Eating away more of our discretionary income to spend at the mall, NOT with a credit card.
0% for too long.
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