Our business has fallen off a cliff. Sales are worse today than they were in the couple of months after 9/11, and they were terrible then.
On Oct 16, 9:30 am, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > My comment: I cannot judge yet, but please read the thread > Deflationary recession or > Hyperinflation?http://groups.google.com/group/world-thread/browse_thread/thread/cb4a... > > Inflation in U.S. Wanes; Consumer Prices > Unchangedhttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=akY6AvvvuDp0 > > Oct. 16 (Bloomberg) -- The cost of living in the U.S. was unchanged in > September, restrained by declines in fuel costs, automobile prices and > airline fares that show the slowing economy is starting to cool > inflation. > > The Labor Department's consumer price index was unchanged after a 0.1 > percent drop in August; economists had forecast an increase for last > month. So-called core prices, which exclude food and energy, rose 0.1 > percent, also less than forecast. > > Today's figures show that for the first time in two years, prices > didn't increase for two straight months. Waning inflation gives > Federal Reserve Chairman Ben S. Bernanke scope to lower interest rates > further as policy makers attempt to unfreeze credit markets. > > ``It'll give the Fed a little bit of cover to cut rates when they meet > next,'' on Oct. 28-29, John Ryding, chief economist at RDQ Economics > in New York, said in an interview with Bloomberg Television. > > Treasury securities, which had fallen earlier in the day on signs of > easing pressures in money markets, remained lower after the consumer- > price report. Yields on benchmark 10-year notes were 4.02 percent at > 8:43 a.m. in New York, from 3.95 percent late yesterday. > > Economist's Forecasts > > Consumer prices were forecast to rise 0.1 percent, according to the > median forecast of 75 economists in a Bloomberg News survey. Estimates > ranged from a decline of 0.3 percent to a gain of 0.2 percent. Costs > excluding food and energy were forecast to rise 0.2 percent, the > survey showed. > > Prices increased 4.9 percent in the 12 months to September after a > year-over-year gain of 5.4 percent in August. The core rate increased > 2.5 percent from September 2007, the same as the year-over-year > increase in the prior month. > > Separately, the Labor Department said initial jobless claims fell last > week as job losses related to the Gulf Coast hurricanes subsided, > while total benefit rolls rose to the highest level in five years. > First-time applications declined by 16,000 to 461,000 in the week that > ended Oct. 11. > > Some companies are cutting prices to entice cash-strapped consumers > who are limiting purchases to essential items such as food and fuel. > > Record Decline > > Energy expenses dropped 1.9 percent, led by the biggest decrease in > the cost of natural gas on record. Gasoline prices fell 0.6 percent. > > Oil prices have kept coming down this month. Crude oil futures on the > New York Mercantile Exchange dipped below $75 a barrel yesterday after > averaging $103.76 in September. > > The consumer-price index is the last of three monthly price gauges > from the Labor Department. The CPI is the government's broadest gauge > of costs because it includes goods and services. > > Prices paid to U.S. producers fell for a second month in September, > the first back-to-back drop in two years, the government said > yesterday. Import costs last month decreased by the most since April > 2003, Labor figures showed last week. > > Food prices, which account for about a fifth of the CPI, rose 0.6 > percent for a second month. > > New-vehicle prices dropped 0.7 percent, the most since August 2005, > and air fares fell 1.7 percent, the biggest decline since November > 2006. > > Earnings Weaken > > Today's figures also showed wages were unchanged last month, after > adjusting for inflation, following an increase of 0.6 percent in > August. They were down 2.5 percent over the 12 months to September. > The decline in purchasing power is contributing to the slowdown in > consumer spending. > > The Commerce Department said yesterday retail sales dropped in > September by the most in three years. > > Mattel, the world's largest toymaker, said this month that most of its > holiday toys will cost less than $20 to help lure shoppers who are > cutting back on spending. > > Wal-Mart Stores Inc. said this month it will cut prices ahead of the > holiday season, offering 10 items for $10 each. > > Hotel companies are struggling as consumers pull back on spending. > Marriott International Inc., the biggest U.S. hotel chain, said in a > statement that a measure of rates and occupancy will ``at best'' fall > 3 percent in North America in 2009. > > The effects of the deepening credit crisis on the economy will cause > the unemployment rate to keep rising for another year, reaching 7.3 > percent by the last three months of 2009, said Maury Harris, chief > U.S. economist at UBS Securities LLC in New York. The rate was 6.1 > percent last month, matching a five-year high. > > ``This is something that is impossible to turn around right away,'' > Harris said in an interview on Bloomberg Radio yesterday. > > On Oct 8, 5:31 pm, "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> wrote: > > > Finally the lack of trust (the wallet is smarter than the mind) led > > the storm in the banking system in USA, wipping out many players, and > > then to the rest of the world with more or less consequences depending > > on the economic area. > > > This, combined with the current economic war for global influence, has > > created a chaos as collateral damage. We are into the same phase yet, > > fall of purchasing power and fall of confidence. > > > Fed Tries to Find What Works in Mess: John M. Berry > > (Update1)http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anlb12f2CT7s > > > On Sep 9, 9:15 pm, "Xi Ling" <[EMAIL PROTECTED]> wrote: > > > > LOL.I laugh with you at your last comment. > > > > (((((Mrs. R.))))) > > > > Thank you very much for your message,.It is smart and clear. > > > > I cannot disagree. In addition, obviously, you know your country and your > > > people, while I do not. I just see their economic environment. > > > > There is a rate that more or less describes the circumstances for the > > > people > > > that you mean. It is called "pain and misery index". I enclose it here. > > > > As you can see, regarding this topic, the current situation in USA is > > > close > > > to those in 1935 (great depression) and 1915 (WW1) and, for example, far > > > from the prosperity that US economy lived between 1945 and 1970. > > > > That chart comes from > > > >http://www.nowandfutures.com/key_stats.html > > > > It takes official information and completes it. What they called without > > > lies. LOL > > > > Anyway, with or without lies, the current situation of those people is > > > severe. Right now, almost as severe as the most severe situation that US > > > economy has known in the last 100 years. And we cannot forecast anything > > > that eases it. On the contrary, it is worsening month after month. And > > > more > > > and more people are entering into that group. I cannot do much for many, > > > but > > > maybe I can do something for some to prevent them to fall into that > > > category. > > > > Related that group of people, you touch a topic that has a technical name, > > > asymetric information, and that I care very much. Prof. Joseph Stiglitz > > > (and > > > others) won the Nobel prize by challenging the "perfect market" with his > > > models about those asymetries. Not everybody has the same information when > > > they face economic decisions, That corrupts markets and moves economies > > > toward wrong situations where everybody (even those with accurate > > > information and smart decission logic) suffer the consequences. According > > > to > > > those models, Adam Smith, Milton Friedman among many others were wrong, > > > the > > > "perfect market" does not exist and the mundane markets (the real marets > > > where rel human beings make real economic transactions) do not tend to > > > balance as text books told and tell yet in some countries. > > > > The fall of trust on US treasuries that I posted in this thread is > > > serious, > > > extremely serious. It is an early sign, it could be fixed. Let us see if > > > somebody does it. Trust is difficult to gain, more when it is related to > > > money. > > > > Again, thank you very much for your message. > > > > Peace and best wishes. > > > > Xi > > > > US_pain_misery_index.png > > > 17KViewDownload --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
