WASHINGTON (MarketWatch) - U.S. retail sales fell 0.1% in July despite a boost from the government's cash-for-clunkers subsidy, the Commerce Department reported Thursday. It was the first decline in seasonally adjusted sales in three months. The report shows that consumer spending is still weak despite attempts by the government to stimulate demand. Sales at most kinds of stores declined in July. Economists surveyed by MarketWatch were looking for sales to rise 0.8%. Falling gasoline prices in July led to a 2.1% decline in sales at gasoline stations. Excluding gas, retail sales rose 0.1. Excluding autos, retail sales fell 0.6%, against an expectation of a 0.1% increase http://www.marketwatch.com/story/july-retail-sales-fall-despite-cash-for-clunkers-2009-08-13 Unexpectedly....
Government is not going to solve this problem with the Zimbabwe approach; not with the throngs of the unemployed 30 million deep and growing daily. Never. No matter how many bullshit programs they introduce (like CFC) or how much money they print or how much 'quantitative easing' they engage in. Jobs, baby, jobs. It's all about jobs.
I like your posts. I know people here hope and wish that they can shift reality through prayer and positive thinking, but it ain't going to happen. Remember the silly phrase " giving forward" Well for the last 30 years those same folks have been "spending forward" whilst the gov. has allowed their jobs to be exported. Just as "giving forward" comes back to you, well, hello, so does "spending forward" Welcome to reality ... jobs jobs and more jobs sosueme
The truth is, people don't have to shift the global economic climate. The true financial successes shift their own reality and prosper in these times as well as in the "better" times. There is money to be made in these times...the best keep trying and figure out how. The sheep wait for more "jobs" or handouts, or subsidies. Not everyone's fault...the news media and government do a good job training people not to think for themselves. But remember, each person is in control of their thoughts and beliefs around money even if they don't exercise it. How people struggling now had no strong financial plan years ago? How many people out of work have no contingency fund for themselves or their families and/or no savings? How many families live at or around exactly what their income is each month? The worst time to make financial decisions is when you have no money, in general. Money is important. So, spend less than you earn, and save and/or invest the rest. How many of you could live on 70, 60, 50, 40 or 30% of your current income and still lead happy, healthy and productive lives? How many people have 5, 10, 20 or 50K in a liquid account that they can use should their current income stop? To be creative and effective financially, in general, basic needs must be met. IN some cases, true crisis brings out amazing ideas. But day to day, thinking on higher levels requires an absence of worry about money. A strong financial plan should help create this, and often doing this involves finding out what is personally important regarding income and expenditures, and disregarding the rest.
You have a surreal image of the people with whom you share the country and the world. There is a big chunk of the population who have no intention of living other than day to day. They never have and they never will. If you do not see the reality in offering them useful simple work for a decent rate of pay then you can accurately anticipate trouble, and sure enough you will be right. There is a practical difference between "all men are equal" and " treat all men equally"
Yeah..well I think my post was right on the money, so to speak. My references come from actually doing it myself, and teaching others in the same manner. What are your references and experience? If you think a little beyond your response, you might find that I agree that most people don't think beyond living day to day. However, I don't agree with the "never can and never will" statement you made. If you think a little more, you will find that the government and media are some strong influencing factors in why most people do not think beyond living day to day. Governments need people to rely on them, or else why would people need to pay them (in the form of reelection and sustaining the status quo)? Training people to believe that their financial well being is directly proportional to some economic data is a beautiful spin and serves government well. I don't disagree with you, except for the "never" statements. "Never" is something you cannot factually state. In our lifetime it's essentially unverifiable. Actually, I agree with most of what you say. Giving people jobs makes people happy. Just like feeding chickens keeps them alive. Some chickens produce eggs and some are cooked and eaten. Chickens don't think too much though, and they remain to wait for their next handout. The way most people live is like the chicken that produces eggs. That's all they do. The eggs by the way are in expenditures on goods and taxes. The more the government and media Influence people to live at or above their means, the more control they have. So its a larger question my friend. But one that's solved on an individual, not communal basis. When individuals find ways to create income, real jobs are created. So it takes creative and forward thinking individuals to enact a change. The ones who do this will prosper and help the ones who rely on "jobs" to function. Handing out jobs with no real function or basis for them is more of a drain and those types of subsidies just prolong the cycle in the economy. This is what the government does in the short term, it also preserves their clout. You should know this. I mean, you trade, correct? You know what happens when the SEC bans short sales, in order to "protect" certain banks? Were you here last year? Were you one of the traders moaning because your long only trading lost money for two straight years, or did you think creatively, sell short, and profit from this "crisis?" Some of us did. And quietly, while my friends, who work "jobs" were upset at the paper money they lost in their 401k and homes, I was quietly earning a good living and saving money. Before I made that kind of money in a "crisis," I read all of the kinds of stuff about developing finanicial plans, how wealthy people have succeeded, etc. It occurred to me that waiting for a job to be "given" to me was one of the least attractive scenarios I could imagine. If I was going to prosper, I would have to create the income and not wait for the job. One way I did it was by trading. Even the "job" i worked while beginning trading was created by someone who created the service. See, it's on an individual basis not a communal basis. That might not be your story. I do agree with you that most people live day to day. I just offered a way to break out of that, if one chooses. No hard feelings, I just think you didn't think before you responded.
Hope you all bought the dip and made the free money! It's all about getting on the risk gravy train. Eventually, the stupidity will end, but not today!
pairsarbtooo wrote ""the news media and government do a good job training people not to think for themselves. But remember, each person is in control of their thoughts and beliefs around money even if they don't exercise it."" Excellent! I totally agree.
I am thrilled that you have found the gumption to think for yourself and I am equally thrilled that you have "discovered" the short side of the market. Good on you.