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you but it's 7:30 A.M. CA time, the DOW is down 300 pts, oil prices are down, they're projecting AN OIL SURPLUS in coming months, and the SQUAWKBOX folks are a bit hysterical.

So much for the crisis being over?  What's next?

Now where's the fun in that! - Megatron

by THE Twank (yatta blah blah @ blah.com) on Wed Oct 15th, 2008 at 10:33:44 AM EST
Retail sales fingered in MSM explanations of volatility in securities trading, not that securities trading has anything, really, to do with forecasting consumer spending. A "part-random" sample of related news illustrates how propaganda may or may not induce macroeconomic policy prescriptions for state-sanctioned graft.

Retail sales fall 1.2% in September | MarketWatch | 15 Oct 2008

Sales were weak in September in almost all kinds of stores. Excluding the 3.8% drop in auto sales, retail sales fell 0.6%.  Sales were weak in September in almost all kinds of stores. Excluding the 3.8% drop in auto sales, retail sales fell 0.6%.
In a separate report, the Labor Department said producer prices fell 0.4% while core prices rose 0.4%. See full story.
[...]
 Demand for consumer durables was weak in September. Sales at furniture stores dropped 2.3%, while sales at electronics and appliance stores fell 1.5%. Sales at hardware stores fell 0.6%.
Soft goods didn't fare any better. Sales at general merchandise stores fell 0.4%, including a 1.5% drop at department stores. Sales at clothing stores fell 2.3%.
Sales of leisure-time goods, such as books and sporting goods, fell 1.1%.
Sales at food stores and restaurants fell 0.5%.
Sales rose 0.1% at gasoline stations. Sales increased 0.4% at health and personal care stores.
Sales at nonstore retailers, such as catalog and online stores, fell 0.8%.

Cheaper gas tugs on retail sales | CNNMoney | 13 Oct 2008

The Census Bureau reported that retail sales fell 0.4 percent in September, following a revised 0.1 percent rise in August. Economists surveyed by Briefing.com had forecast a 0.2 percent rise in sales.

But gasoline station sales fell 9.3 percent in the month compared to August, as gasoline prices fell sharply. Excluding what was spent at gasoline stations, retail sales rose 0.6 percent in the month.

Just about every class of retailer measured by the government report, except for food and beverage stores and auto dealers, saw improved sales in September. Spending at clothing and clothing accessory stores led the way with a 3.0 percent gain, while general merchandise stores, such as department stores, posted a 1.1 percent rise over August.



Diversity is the key to economic and political evolution.
by Cat on Wed Oct 15th, 2008 at 11:48:07 AM EST
[ Parent ]
Not to beat a dead horse but it's about 11 A.M. CA time, DOW down about 500 pts.

Is this meaningless  bullshit?  Do I watch it like a rube, like I would stare at the bearded lady in a side-show?

Now where's the fun in that! - Megatron

by THE Twank (yatta blah blah @ blah.com) on Wed Oct 15th, 2008 at 01:54:19 PM EST
[ Parent ]
Well, I wouldn't call you a rube... but there is serious volatility out there. Hourly checking is probably more noise than signal.
by Metatone (metatone [a|t] gmail (dot) com) on Wed Oct 15th, 2008 at 02:30:48 PM EST
[ Parent ]
My final check in on this and I will shut up.

DOW down 733 for the day, back to the lows before that previous surge of optimism.

So?

Now where's the fun in that! - Megatron

by THE Twank (yatta blah blah @ blah.com) on Wed Oct 15th, 2008 at 04:52:27 PM EST
[ Parent ]

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