Facebook

Twitter

StumbleUpon

Email

vote downundo vote up flag

calculatedrisk.blogspot.com - 11/14/2008

Retail Sales Collapse in October

—

The Census Bureau reports that retail sales collapsed in October: The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $363.7 ...

Leave a Comment

liquidating the automakers
Decline and Fall of Western Civilization — ... the two are suffering massively under the weight of economic contraction -- see today's retail sales disaster report -- and are burning through cash at a rate that may make them insolvent before year end. while the bailout-mad treasury dishes cash to seemingly every applicant in any line of business, in fact there are limits to what the feds will do. and ...

Worst Economic Downturn since the Great Depression?
J. Bradford DeLong's Grasping Reality with All Eight Tentacles — ... It has been the worst financial crisis since the Great Depression. I am now going to stick my neck out and say it will probably be the worst downturn since the Great Depression. Calculated Risk: Calculated Risk: Retail Sales Collapse in October: The Census Bureau reports that retail sales collapsed in October: The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price ...

Friday links: when you buy on the way down
Abnormal Returns — ... to currency based ETFs for all four of the BRIC nations (Brazil, Russia, India and China).”  (IndexUniverse.com) 30-year investment grade bond spreads are at a record.  (Crossing Wall Street) The 30 year Treasury bond auction was sloppy, to say the least.  (Accrued Interest) Retail sales in October were pretty bad.  (Calculated Risk, Curious Capitalist) “The ...

roubini calls (-10%) GDP
Decline and Fall of Western Civilization — ... Today’s news about October retail sales (-2.8% relative to the previous month and now down in real terms for five months in a row) confirm what this forum has been arguing for a while, i.e. that the U.S. has entered its most severe consumer-led recession in decades. At this rate of free fall in consumption real GDP growth could be a whopping 5% negative or even worse in Q4 of 2008. And this is not a temporary phenomenon as almost all of the fundamentals driving consumption are heading south on a persistent and structural basis. ... ...