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This is no surprise given decreased consumer confidence/consumer sentiment.
It doesn't take a Rhodes Scholar to figure it out.
No one has any money.
Then, when the FICA tax holiday fiasco ends, people will even less than no money.
And then, when the Obama Tax Cuts end, people have not very much money at all.
After that, there's Obamacare waiting to rear its ugly head and take whatever people have left, but hey, at least they'll get to turn their heads and cough once a year --- for "free."
It doesn't take a Rhodes Scholar to figure it out.
No one has any money.
Then, when the FICA tax holiday fiasco ends, people will even less than no money.
And then, when the Obama Tax Cuts end, people have not very much money at all.
After that, there's Obamacare waiting to rear its ugly head and take whatever people have left, but hey, at least they'll get to turn their heads and cough once a year --- for "free."
It doesn't take a Rhodes Scholar to figure it out.
No one has any money.
Then, when the FICA tax holiday fiasco ends, people will even less than no money.
And then, when the Obama Tax Cuts end, people have not very much money at all.
After that, there's Obamacare waiting to rear its ugly head and take whatever people have left, but hey, at least they'll get to turn their heads and cough once a year --- for "free."
Not retailing...
Mircea
It took THEM longer to get back at you than I thought it would but the first reply was just as bad as I knew it would be.
Once I pay off my mortgage, on which I am making double payments, I will have money freed up to spend. Not until then, though. I believe that is the primary reason for anemic spending. Many, many consumers are paying off debt at least to a point that is manageable.
Getting caught in a deep economic crisis with a debt load that was barely manageable during good times changes a person's view of consumerism and spending.
This is no surprise given decreased consumer confidence/consumer sentiment.
From page two of the article.....
"Retailers’ results toward the end of June may also have been hurt by tropical storm Debby in the Southeast and wind and thunderstorms in the mid-Atlantic region that led to severe power outages last week.............
Overall results also were hurt by unseasonably warmer weather earlier in the year that pulled forward demand for summer and warm-weather goods", analysts said.
Also on page 2:
"Upscale retailers Nordstrom Inc. and Saks Inc. posted better-than-expected sales gains of 8.1% and 6% each, limiting concerns about high-end shoppers pulling back......"
They may have been scared out of their wits by the Outlaws running the Show.
When the new taxes and regulations start showing up year by year beginning in January and people realize just what they've gotten themselves into consumer confidence will be non-existant.
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