November Sales Disappoint; What Happened to Black Friday’s 13%? | The Big Picture

"The bottom line: The NRF is an industry shill group that produces nonsensical spin that misleads investors, fools the public, and bamboozles incompetent journalists. Any writer who uncritically reprints their nonsense deserves to be fired; any media outlets that publishes their junk should be put quarantined and put on your DO NOT READ list."

What about the nonsense of the supermajority of financial blogs and their endless twitter feeds.

Party

I guess we'll just have to believe in Sandy clause for another month or so.

WASHINGTON -- Congress would cancel about $935 million in foreign aid to the Palestinians if they use their new standing in the United Nations to pursue Israel in the International Criminal Court, Sen. Lindsey Graham said Thursday.

Lindsey Graham Threatens to End Foreign Aid to Palestine | wltx.com

The storm affected 24 states, with particularly severe damage in New York and New Jersey.

Really?

HomeGnome wrote:

Lindsey Graham Threatens to End Foreign Aid to Palestine | wltx.com

Remember. Lindgay Graham is suppose to be the "new and improved" GOraPe.

Can't change spots.

Hurrricane Sandy reduced wages in October

Ha ha ha ha ha ha ha ha ha

however PCE in October was weak.
Personal consumption expenditures (PCE) decreased $20.2 billion, or 0.2 percent.

i'm gonna wait till Sebastian explains me why this is not a big deal. to me, this seems to confirm David Rosenberg's and ECRI's point of view. we'll see

i much rather look it like David, he focuses on true leading indicators, core CAPEX and exports. employment data seems more useful to signal exist of the recession than entrance, housing data is just not relevant for entrance as it just reflects gov actions.

notably the export picture was pretty negative when you dig into it. the sectors doing badly are core and those doing ok were final consumer driven (furniture, apparel) except for USA leading export: paper. notably the % of those saying "is getting worse" reminds elevated at 29%. and who in that % is talking is very important too, furniture is not leading for ex, but lagging.

Hurrricane Sandy reduced wages in October

yep, earning conference calls and econ reports remind me of my son's kinder son: "what's the weather, what's the weather... "

I didn't know chickenhawks had spots.

However, BEA did make adjustments where source data were not yet available or did not reflect the effects of Sandy.

Hey, Joe, Alaska's numbers look a bit low. Maybe we should throw in an adjustment for Sandy.

Antarctica, Greenland ice definitely melting into sea, and speeding up, experts warn - World News

we need to enjoy life much more before TSHTF!

When the earthquake hit LA in 1994, Anaheim stadium claimed it's big screen was knocked out by the temblor...

Everybody wants a little piece of the action~

Hey, Joe, Alaska's numbers look a bit low. Maybe we should throw in an adjustment for Sandy.

sure! those folks weren't able to be as productive while watching Sandy on TV

Oh please, please, please!

"Krauthammer urged Republicans to "simply walk away" from negotiations if they do not receive a better offer."

Krauthammer, Republicans Pan Obama Fiscal Cliff Offer - Business Insider

Come 2016 the GOraPe will be reduced to a shit stain on the carpet of Congress.

Big smile

The more I hear our gutless politicians in Washington drone on, the more appetizing the cliff becomes.

Sandy is certainly helping increase the velocity of money.

Almost every contractor has made a request for Cash, and no, I dont need a receipt instead of check. Willing to "save you the sale tax" if paid with Cash, and no, I dont need a receipt

Pigged Comrade Kristina wrote:

When they get hungry enough...see my avatar

"What is SNAP increases by the millions to prevent that from happening?"
.
Srsly, I'm all for the revolution, but I'm not seeing it. Egypt had one, and now, they are back at the drawing board with the poor folks still suffering. Doh!

shill wrote:

The more I hear our gutless politicians in Washington drone on, the more appetizing the cliff becomes.

Om-nom-nom-nom OMNOMNOM fiscal cliff!!

The buffalo jump was used for 5,500 years by the indigenous peoples of the plains to kill buffalo by driving them off the 11 metre (36 foot) high cliff.

Head-Smashed-In Buffalo Jump - Wikipedia, the free encyclopedia 

The storm affected me_ I watched it go by. And a nervous Nellie delayed closing a couple of days.!

shill wrote:

the more appetizing the cliff becomes.

Really? What does it "taste" like?

yagij wrote:

"What is SNAP increases by the millions to prevent that from happening?"

SNAP, brought to you by J.P.Morgan. Note that a $6/month administrative fee may apply if the card goes unused.

What we need is a reality show about a SNAP recipient being johnny on the spot, parlaying perfectly legal twinkie purchases into undreamed of profits selling same on eBay...

re: Switzerland, Jersey, Luxembourg, BVI, HK, Caymans, (Mann, Bermuda) ...

Its name is the "Liechtenstein list" or the "Kimber list." This is another list of names of Greek nationals with deposits in a foreign bank. The list was compiled by an employee in the Liechtenstein bank LGT, Heinrich Kimber. It contains the names of 4,527 account holders, including Greek and German citizens.

Another mystery with Greek depositors in a Liechtenstein bank

BTW, left-center SPD in bundesrat last blocked bilateral agreement with Swiss on tax enforcement that past bundestag.

Jackdawracy wrote:

What we need is a reality show about a SNAP recipient being johnny on the spot, parlaying perfectly legal twinkie purchases into undreamed of profits selling same on eBay...

Watching him attempt to trade up from a SNAP card to a house would probably be quite a hit.

Also, we had an early Halloween this year.

Jackdawracy wrote:

I guess we'll just have to believe in Sandy clause for another month or so.

Bravo!

DSK contributed $6M to US economy this week.

curious wrote:

The storm affected 24 states, with particularly severe damage in New York and New Jersey.

Really?

Yeah, didn't you see the Kansas City Fed numbers yesterday?

Really? What does it "taste" like?

Tastes like Liberal Scum...come on you know.

You can Run DSK, but you can't hide the salami with the help.

YouTube - RUN DMC - Peter Piper

Oh, and Sandy had devastating consequences in the Chicago area (preparing for the Chi PMI).

He or she sells mint wrapped boxes for a couple hundred large, and before you know it they're kingpins in the twindustry.

New Keyboard Okay, that is enough from you two. Stop it. Laughing out loud

I'll bet Johnny Cash could whip it up theme song to this posting.

Maybe this will do

YouTube - Johnny Cash - Help me (with Lyrics)

oh and bt/w

Its my Birthday

Real French Sparkly

Happy Birthday, Barley Returns. Happy Birthday!!!

BarleyReturns wrote:

Its my Birthday

... many barley returns of the day

sum luk wrote:

... many barley returns of the day

I will drink to that. Beer

It's baaaaaaack (well appears that it never really went away):

animated 12 week drought map 

on Puerto Rico, it has 3 different public pension systems. the biggest one was 10% funded in 2009 at the bottom of the mkt, it might have made a big comeback since then. retirement age is as early as 55 if the employee contributed for 30 years.

the demographic pyramid doesn't help either. during the next 5 years a bigger chunk becomes elegible to retire at 55 (~10-15% bigger).

the pro-funding measures so far had been to increase employee contributions 1%.

pro-funding proposals: to cap pensions to $60k for regular employees and $36k for teachers (the teachers fund seems much better funded, 24% in 2009). also to stop providing loans (for all types of things including mortgages, weird!).

vs-funding proposals: they are also thinking about lowering contribution requirements for women to 25 years. so a female employee could work 30-55, and then be a retire from 55 to >83 (cause it's life expectancy at birth, not for those who reached 65). so more years retired than working.
Sin votos de AP pasa informe para jubilación a los 55 años - JUL. 06, 2012 - Política - Noticias de Ecuador y del mundo | El Universo

S&P cuts outlook on PR pension system - Caribbean Business

If an election were held now, the main opposition SYRIZA party would get 31.5 percent of the vote against 26.5 percent for New Democracy, which leads the current three-party coalition, the VPRC survey for Epikaira magazine indicated.
Greek leftists widen lead over conservatives in poll
| Reuters

Unemployment in the eurozone hit a record high of 11.7 percent in October, official Eurostat figures showed Friday, with more than 170,000 more jobs lost
/
The picture was particularly bleak for under 25-year-olds, with year-on-year figures showing almost one in four out of work both in the 17-nation eurozone and 27-nation European Union.

The highest unemployment rate was recorded again in Spain, where 26.2 percent of adults are out of work
Eurozone jobless rate hits new record of 11.7 percent - EUROZONE - FRANCE 24

Comrade Kristina wrote:

Okay, that is enough from you two. Stop it.

very well... back to our regularly scheduled bitching and whining... Laughing out loud

Mount Shasta: Is U.S. Snowstorm Record in Jeopardy? - weather.com

Meanwhile in the Sierra, we're expecting a warmish upside down pineapple express cake.

I don't know about you guys, but when a storm threatens, I see more people spending money, not less. But that's just me.

I don't know about you guys, but when a storm threatens, I see more people spending money, not less. But that's just me

The money spent after Sandy will have a huge impact I think. The local ACE hardware had lots of empty shelves as contractors and homeowners swarmed the place to get restoration/rebuilding supplies. Home Depot was hopping this past weekend as well.

Off to work with me. Happy BFF! Does the FDIC Order Anchovies? Beer

KarmaPolice wrote:

That 50 billion dollar estimate is just the beginning:
Sewage Flows After Hurricane Sandy Exposing Flaws in System - NY Times

"“This is the largest sewage release in the history of Long Island,”

Yes, spending was weaker because of Sandy. For three days no one shopped. That's 10% of the month, so obviously this is just reporting .90 of the actual number, so nothing to worry about.

Wait, what's that? It only affected a small portion of the country? And what? Huh? You mean people went out prior because they had tons of warning, and so were able to bulk up on all the things they need. Oh, wait, you mean like, hugely expensive generators and stuff?

shill wrote:

Tastes like Liberal Scum...come on you know.

Well you can always pop a urinal mint to get the taste out of your mouth.

Jackdawracy wrote:

The buffalo jump was used for 5,500 years by the indigenous peoples of the plains to kill buffalo by driving them off the 11 metre (36 foot) high cliff.
Head-Smashed-In Buffalo Jump - Wikipedia, the free encyclopedia 

where's Rajesh?

Business Insider

Then Gallup came through with this ominous number about holiday shopping:

WASHINGTON, D.C. -- Self-reported U.S. consumer spending in stores, restaurants, gas stations, and online averaged $67 per day in the week ending Nov. 25, including Black Friday weekend. This is down from $83 a year ago and the $79 comparable for 2010, and essentially matches the 2009 weekly comparable of $69. **

I spent like $25 @ Home Despot and used a credit card and the cashier told me I didn't have to sign, and I said that's nice, and then she told me an interesting nugget: "Some customers have to sign for amounts as low as $2, depending on their credit".

They have us pegged nine ways to sunday~

Americans more humble this year and conscientious about appearing profligate and underreporting what they are personally spending.

Also, they donated more of their spending budget for Sandy charitable giving. Yada yada yada.

Jackdawracy wrote:

I spent like $25 @ Home Despot and used a credit card and the cashier told me I didn't have to sign, and I said that's nice, and then she told me an interesting nugget: "Some customers have to sign for amounts as low as $2, depending on their credit".

that one's In glod we trust

My mom was born not far from there, in Bellevue, Ab.

Don't forget land lines. People without land lines spend money like drunken sailors.

Well you can always pop a urinal mint to get the taste out of your mouth.

Are you retarded? Wait I already know the answer but why not ask anyway..WHAT PART OF RETIRED DO YOU NOT READ?..shall I type it in another language retard?

Oh and retard you can make fun all you want my urinal business allowed me to retire at 47 and with some savvy investments debt free.. keep working Tuna Dish...

It's baaaaaaack (well appears that it never really went away):
animated 12 week drought map

did the farmers got their payments from the super-heavily subsidized insurance? more $ will be on their way it seems...

Coming to pension plans everywhere, eventually.
Greece Shows What Happens When The Welfare Ponzi Ends | ZeroHedge

indeed, it's going to happen everywhere, it's just that it pops up earlier in countries/states that are very badly mismanaged. the pension crisis will not be CONTAINED, just like subprime was the tip of the iceberg. Greece and Puerto Rico are just the tip.

with time, it amazes me even more when informed people still believe their will get theirs.

Jackdawracy wrote:

"Some customers have to sign for amounts as low as $2, depending on their credit".

No wonder I have to sign all the time.

How often do you use a cc for $2? Laughing out loud

That should be an automatic "sign here".

shill wrote:

Oh and retard you can make fun all you want I my urinal business allowed me to go on disability at 47.

Fixed It For Ya

Why worry about ss and medicare If we get rid of debt limit?? We should stop publishing numbers that can hurt consumer confidence.

I'm more interested in the implications for food prices and constraints on water borne transport rather then grinding some pet axe, but YMMV.

Bill should screen all posts for certain word usage, and ban those.

For instance, "fiscal cliff".

In the CVBB in supermarkets, i've seen folks ahead of me at the checkout sometimes trying out a few credit cards until they get one that sticks, living la vida loan loco

sum luk wrote:

Bespoke Investment Group - Think BIG - Strong Breadth

How do you tell someone they have bad breadth?

Oh and retard you can make fun all you want I my urinal business allowed me to go on disability at 47.

Disability? Hell I wish, I'll take that free sugar all day..yup.

Just trying to fit in with the " In " crowd.

Outsider wrote:

How often do you use a cc for $2?
That should be an automatic "sign here".

YouTube - The Dude writes a check for his half&half

living la vida loan loco

Laughing out loud Funny cuz it's true.

BTW, I had a wealthy relative who used to go thru the card-switcheroo-till-we-find-one-that-works act too. Some people just s-p-e-n-d.

shill wrote:

Oh and retard you can make fun all you want I my urinal business allowed me to retire at 47

Smells like actual capitalism Wink

U.S. Birth Rate Falls to a Record Low; Decline Is Greatest Among Immigrants | Pew Social & Demographic Trends
Who in the hell is going to pay for my Medicare and SS??

they will asset/income test the hell out of benefits soon. then they will transfer from those w/ fixed assets (mostly old anyway) to those old w/out assets.

it'll still be a transfer to those who would be in the deepest poverty without it. it's just clear that the labor of the younger is not going to be enough as a source to keep it going as it is, so i'd expect the bulk of the increase of the burden to fall mostly on the fortunate elderly instead (you can already see the beginning of this with teh Medicare tax on cap gains).

so the core idea of the system will be preserved, it'll just get rid of the added aim to "maintain standards of living". it should have ALWAYS been income/asset tested anyway.

shill wrote:

Just trying to fit in with the " In " crowd.

I have a crowbar. Because I am rather sure it would be a very tight squeeze.

I got into urinals early and left a deposit on margin, eventually retiring to the exit.

curious wrote:

The storm affected 24 states, with particularly severe damage in New York and New Jersey.

Really?

There's 6 states (all affected) in new England, right? Then there's the Carolinas, the Virginias, Maryland, Delaware and Pennsylvania (should we also count D.C.?), that 14, plus NJ and NY for a total of 16. FL and GA affected early on, and I heard the there were effects in OH, bringing the total to 19. We just need to come up with 5 (or 4 if you're already counting D.C.) more to bring to total to 24...

I have a crowbar. Because I am rather sure it would be a very tight squeeze.

There you go with the Vagina jokes again...

"Some customers have to sign for amounts as low as $2, depending on their credit".

I recently heard a story from a friend buying a used car. The car dealer told them that when he sells cars to people with bad credit, they can end up paying over 20% interest rates. Also, the lenders will add a premium to the price of the car. And they will put a GPS unit on it and also they will put a shut off on the ignition. Any missed payments and they use the shut off.

The car dealer wasn't happy about all that. Said some young guy was going to end up paying $10K for a car worth $2K when all was said and done. But the guy needed to do it to establish "good credit".

I got into urinals early and left a deposit on margin, eventually retiring to the exit.

Again I own my shit Smile

http://1.bp.blogspot.com/-kXE8T614MdU/ULe7YJ1llkI/AAAAAAAAPAw/iJYDOe2fEI4/s320/buffett-blankfein.jpeg

You can't really call it Cliffs Notes, 'cause it's all digital now, the debt that is.

The use of "e-scores" also is another way that you are constantly being treated differently based on your credit score. And most people never know.

YOU FOR SALE; Shoppers, Meet Your Scorekeeper - NY Times

Strong windy wet one passing through the Central Californicateya last night and into Sunday. Keep a weather eye out you downstream users.
Californicateya is doomed. Sea level rise has been measured at 11mm. Run for the hills!!!

I think we should eliminate credit scores. Its not a fair.

I'm tickled to learn that your endangered feces is protected.

Chicago PMI inches into expansion territory - MarketWatch

Chicago PMI faintly accelerated in November, rising to 50.4 from 49.9 in October. The index came in just a shade below the 50.5 MarketWatch-compiled economist consensus. Production and employment accelerated,but new orders slumped 5.3 points to 45.3. Any reading above 50 indicates expansion

yagij wrote:

I'm all for the revolution, but I'm not seeing it. Egypt had one, and now, they are back at the drawing board with the poor folks still suffering.

After the French Revolution the peasants were doubtfully fatter than they were before, and beheading royals only brings about a transient happiness...a few decades later they were back to Emperor Napoleon....

I think we should eliminate credit scores. Its not a fair.

Discriminatory! I'll bet the poor have, on average, lower credit scores than the rich. That shuts them out from a lot of good opportunities.

shill wrote:

There you go with the Vagina jokes again...

How's the Red Herring smell this morning?

BTW...who exactly is Vagina. Is that your girlfriend?

If you're concerned that you can't offload your gold, you might want to turn to the physical.

If you're above the tule fog belt, are you really in the CVBB or just an intraloper?

KarmaPolice wrote:

Lindgay Graham is suppose to be the "new and improved" GOraPe.

My image of Graham is one with him on his knees in front of Bibi. That image has a lot of DC critters in a line behind him on their knees. The question always is: Do they spit or do they swallow?

Whiskey wrote:

you might want to turn to the physical.

Yes. That work out so well for people in the aftermath of Sandy.

ee, around here the unforgettable perfume of organic fertilizer (i.e. liquified animal shit, city slickers) is usually referred to as the 'smell of money'. Of course these days for the next generation it might be the smell of the freshly printed subsidy check that's arriving in the mail...

dilbert dogbert wrote:

My image of Graham is one with him on his knees in front of Bibi

Nope. Lindgay is a pillow biter.

yagij wrote:
I'm all for the revolution, but I'm not seeing it.

... I'm afraid our yeomen had a few too many 6pacs and will simply continue to sit and take it.

dilbert dogbert wrote:

The question always is: Do they spit or do they swallow?

I would imagine it was pre-negotiated at a fair market premium

Regulation and prosecution is all the revolution we really need. A few minor structural changes.

REBear wrote:

I think we should eliminate credit scores. Its not a fair.

We would do better to eliminate credit sores.

Jackdawracy wrote:

Head-Smashed-In Buffalo Jump - Wikipedia, the free encyclopedia

  • The Canadian indie band "Cuff the Duke Point" recorded a song titled "Head Smashed In Buffalo Jump"

Could it be...?

KarmaPolice wrote:

How's the Red Herring smell this morning?

Stop it!!! That always brings to my mind the words of an old Race Records song with the words: "One eyed cat peeping through the seafood door."

KarmaPolice wrote:

Nope. Lindgay is a pillow biter.

O.K. I assume that means he is on the bottom.

ResistanceIsFeudal wrote:

around here the unforgettable perfume of organic fertilizer (i.e. liquified animal shit, city slickers) is usually referred to as the 'smell of money'.

"Black gold"...

U.S. Birth Rate Falls to a Record Low; Decline Is Greatest Among Immigrants | Pew Social & Demographic Trends

wow! the gap in fertility dropped by almost HALF (gap of 47 down to 28) bt US born women and foreign born ones. it was expected looking at the amazing drop in fertility rates from some of their countries of origin (check Mexico's, the one with biggest drop, 23%, Brazil's collapse of fertility happened even faster). but still is fascinating how fast the change happened, only in 2 decades.

it's also interesting that the speed of fertility rate convergence accelerated after the end of the housing mania, but it was consistently shrinking in the 90s too.

there's still a way to go, i'd expect the gap to keep on closing. notice that many Latam countries are embracing having an only child as the optimal thing. it makes sense in an econ in which muscle doesn't matter and it's all about IQ and human capital.

Finance_Fan wrote:

but still is fascinating how fast the change happened, only in 2 decades.

internet pr0n? only half kidding.

Who in the hell is going to pay for my Medicare and SS?

Don't worry, the euthanasia movement will help with that. Catler!

NateTG wrote:

Don't worry, the euthanasia movement will help with that

The Asian youth are our future!

internet pr0n? only half kidding.

That's a thought. Wonder if it works that way -- replacing human relationships.

she told me an interesting nugget: "Some customers have to sign for amounts as low as $2, depending on their credit".

It's by transaction type, not by credit rating.

NateTG wrote:

It's by transaction type, not by credit rating.

My impression, too. Debit purchases are unsigned, credit ones are. However, I have noticed that some debit purchases don't require pin input.

It's by transaction type, not by credit rating.

Blows that theory. Guess the clerk wasn't fully in-the-know. Now some of us will have to sign for $2 items and fret about our credit scores.

Debit purchases are unsigned, credit ones are.

I don't think Nate meant credit/debit transaction types, but the purchase item. No?

yeah I find it ridiculous too. There is no real explanation for it. It is just another part of the stupid approach which is counting everything in money. There were more important loses than money during the hurricane. Imagine how many people lost their homes and now are dependent on the system. I´m glad Sandy did not have impact on my province in Canada. Every natural disaster is just too scary for me to even imagine how must people suffer. With increasing population (in Canada, it has risen to 33 476 688 in 2011) the costs of potential disaster in terms of real value things are exponentially growing.

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