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Old 06-16-2020, 05:47 PM
 
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Quote:
Originally Posted by Serious Conversation View Post
But the lockdown creates fear and uncertainty. I don’t think it’s going to pop right back to normal.
No, not pop right back to normal overnight but quickly enough. It's already happening quicker than almost anyone expected. 18% jump in retail sales reported today. Things are moving.
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Old 06-16-2020, 06:17 PM
 
Location: Camberville
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Originally Posted by Serious Conversation View Post
This is what I have been noticing.

The toilet paper/hand sanitizer/etc. are all mostly back on the shelves.

You can't find a video game console new right now. It's been months since I've seen a Nintendo Switch. I've seen Walmarts and Targets picked over of things like movies and now lawn furniture. My local Target's lawn department is barren. Is there really a higher demand for things like lawn furniture and BluRay movies? Maybe a little from the quarantine, but I can't see it being enough to warrant clearing the store of them.

I feel like everyone I know, including people who don't normally play video games, purchased a Switch or Switch Lite in March or early April. Switches were hard to find before the pandemic, and everyone being at home didn't help. I didn't have a hard time finding a Switch Lite in early May.



My Target isn't picked over at all, but I'm not surprised about lawn furniture. Suddenly half of my coworkers are working outside in yards or apartment balconies to get away from being on top of their partner/spouse or kids. Many have purchased new deck furniture as a result. Many balconies in my complex that were previously where people kept bikes and snow shovels now have planters, tables, and chairs and people outside working on them all day.
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Old 06-16-2020, 06:29 PM
 
Location: On a Long Island in NY
7,794 posts, read 8,889,834 times
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Originally Posted by marino760 View Post
No, not pop right back to normal overnight but quickly enough. It's already happening quicker than almost anyone expected. 18% jump in retail sales reported today. Things are moving.
Thanks to the $1,200 checks that the Republicans were opposed to. Better send out more!
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Old 06-16-2020, 07:17 PM
 
13,249 posts, read 6,263,196 times
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Originally Posted by WIHS2006 View Post
Thanks to the $1,200 checks that the Republicans were opposed to. Better send out more!
Nonsense. That check was squat compared to what many people are spending now. Stores around here seem to be doing quite well even though that $1200 was spent 2 months ago. Home improvement stores can't keep up with demand and many items are gone, out of stock and not being replenished quickly enough. The parking lot at the mall is full today and has been since reopening. I doubt that $1200 is playing a role in it. AirB&B states demand has never been higher than right now. The $1200 did what it was suppose to do, but that was the beginning. The spending is increasing and continuing.
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Old 06-16-2020, 11:59 PM
 
Location: Oregon, formerly Texas
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Quote:
Originally Posted by marino760 View Post
Nonsense. That check was squat compared to what many people are spending now. Stores around here seem to be doing quite well even though that $1200 was spent 2 months ago. Home improvement stores can't keep up with demand and many items are gone, out of stock and not being replenished quickly enough. The parking lot at the mall is full today and has been since reopening. I doubt that $1200 is playing a role in it. AirB&B states demand has never been higher than right now. The $1200 did what it was suppose to do, but that was the beginning. The spending is increasing and continuing.

Even with that jump the retail sales were down 7% YOY. A 7% drop would be devastating news signalling recession if we were anything like a normal situation.


I remember stores being crowded back in 2009 too. Quite a bit. Didn't mean the economy was "good." Here's a blast from the past. October 2009 - the line to buy the then-new Playstation 3 video game console queued up around the block - https://www.popularmechanics.com/tec...a4963/4202335/
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Old 06-17-2020, 06:46 AM
 
80,167 posts, read 78,518,791 times
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Originally Posted by redguard57 View Post
Even with that jump the retail sales were down 7% YOY. A 7% drop would be devastating news signalling recession if we were anything like a normal situation.


I remember stores being crowded back in 2009 too. Quite a bit. Didn't mean the economy was "good." Here's a blast from the past. October 2009 - the line to buy the then-new Playstation 3 video game console queued up around the block - https://www.popularmechanics.com/tec...a4963/4202335/
we were at costco yesterday in long island .... holy cow , the line waiting to be allowed in was so long it wrapped around the building and the store had already been open for hours ...


there were so many people shopping it looked like they were giving stuff away free
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Old 06-17-2020, 09:06 AM
 
Location: Oregon, formerly Texas
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Originally Posted by mathjak107 View Post
we were at costco yesterday in long island .... holy cow , the line waiting to be allowed in was so long it wrapped around the building and the store had already been open for hours ...


there were so many people shopping it looked like they were giving stuff away free
Costco is doing well, its sales were up 5.4% over May 2019. Doesn't negate everything else in aggregate being down 7.

Most grocery stores are doing well... going to the grocery store or to a protest is all we can do with our lives right now. I'm spending more at the grocery store but less on everything else. I didn't even buy a tank of gas for 2 months.
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Old 06-17-2020, 09:48 AM
 
1,956 posts, read 1,070,006 times
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Quote:
Originally Posted by marino760 View Post
Nonsense. That check was squat compared to what many people are spending now. Stores around here seem to be doing quite well even though that $1200 was spent 2 months ago. Home improvement stores can't keep up with demand and many items are gone, out of stock and not being replenished quickly enough. The parking lot at the mall is full today and has been since reopening. I doubt that $1200 is playing a role in it. AirB&B states demand has never been higher than right now. The $1200 did what it was suppose to do, but that was the beginning. The spending is increasing and continuing.
I have to agree. $1200 isn't s***. It is not even the median rent in most metro areas. To the folks that truly needed it, it is long gone (rent). To the folks that didn't, it is either banked or was already spent. It really isn't that much money.
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Old 06-17-2020, 10:26 AM
 
Location: Lahaina, Hi.
1,943 posts, read 1,942,902 times
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Originally Posted by Eeko156 View Post
I have to agree. $1200 isn't s***. It is not even the median rent in most metro areas. To the folks that truly needed it, it is long gone (rent). To the folks that didn't, it is either banked or was already spent. It really isn't that much money.
With the $100k threshold, most of us who didn't need it, didn't get it.

For many of my former students, it was the largest payout they had ever received.
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Old 06-17-2020, 05:43 PM
 
Location: Oregon, formerly Texas
6,383 posts, read 4,326,658 times
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Quote:
Originally Posted by Eeko156 View Post
I have to agree. $1200 isn't s***. It is not even the median rent in most metro areas. To the folks that truly needed it, it is long gone (rent). To the folks that didn't, it is either banked or was already spent. It really isn't that much money.
I wouldn't discount it. Don't forget that a family could easily have gotten $3-5k. $1200 per adult, $500 per child. That is a couple rent payments.

I think we underestimate what people did with this. It was like a free tax return, and most people spend all of their tax return. It actually the biggest direct stimulus payment of this type the U.S. has ever done. Consider tht the 2008 stimulus payment was less than half as generous - https://www.thebalance.com/stimulus-...46009%EF%BB%BF

Looking at the May sales report - people bought a lot of stuff like furniture, electronics - the kinds of stuff they tend to spend their tax returns on.
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