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L.A. Ports Already Forecast An Awesome Christmas Season
The Business Insider ^ | 8-9-2010 | Vincent Fernando, CFA

Posted on 08/09/2010 7:16:57 AM PDT by blam

L.A. Ports Already Forecast An Awesome Christmas Season

Vincent Fernando, CFA
Aug. 9, 2010, 6:14 AM

Los Angeles port volumes continue to rebound, and the ports themselves believe that this could signal a strong holiday season in the U.S. this year, or at least stronger one than last year's:

Hellenic Shipping News:

“I think we’re seeing the imported goods and the containers like what you see here obviously filled with holiday items and we’re seeing those in larger numbers,” said Richard Steinke, the executive director of the Port of Long Beach, which sits on a complex alongside the Port of Los Angeles.

...

“We’re still a little cautious about how sustainable it is but from hearing from the retailers and some of the importers it sounds like we’re going to see that sustained business at least through the end of this year,” Steinke said, responding to the idea that this could be a byproduct of companies restocking their inventories and taking advantage of cheap goods, rather than a sign of economic recovery.

Mr. Steinke is cautious to proclaim a strong holiday season, but so far things appear to be trending in that direction. We believe the outlook is still pretty mixed in regards to the U.S. consumer, though this latest L.A. ports view is something to keep an eye on going forward.

Nevertheless, Mr. Steinke also believes the U.S. trade balance could improve due to Asian consumption of higher-value U.S. products.

“You’re going to see agricultural products that really start to move in greater quantities, in larger numbers, and that really benefits those consumers, and it really improves the balance of trade,” Steinke said in relation to Asian exports starting to catch up with imports. “The higher value exports are now moving to those nations

[snip]

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: badnewsblam; christmas; economy; shipping; ships

1 posted on 08/09/2010 7:16:59 AM PDT by blam
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To: blam

the asian sweatshops dumping last years unsold product isnt indicitive of a glorious holiday season.


2 posted on 08/09/2010 7:18:36 AM PDT by Casaubon (Internet Research Ninja Masta)
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To: blam

BS.


3 posted on 08/09/2010 7:18:51 AM PDT by Frantzie (Television controls the American people/sheep)
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To: blam

You’re going to see agricultural products that really start to move in greater quantities, in larger numbers, and that really benefits those consumers, and it really improves the balance of trade,” Steinke said in relation to Asian exports starting to catch up with imports. “The higher value exports are now moving to those nations

[snip]

And who exactly does it help when commodity prices rise drastically? (including grain and oil)
No more money for shopping, if you want to eat!


4 posted on 08/09/2010 7:20:08 AM PDT by griswold3 ('Regulation and law without enforcement is no law at all)
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To: blam

I’ve never seen a blog as schizophrenic as the doubleclickpopupinsider. One day it’s doomsday, and the next is properity-just-around-the-corner.


5 posted on 08/09/2010 7:20:17 AM PDT by Larry Lucido
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To: blam

Hmmmm...I’m looking at my budget, and I’m spending about the same this year as I did last...about 25 cards, envelopes, and stamps. No tree. Wreath on the door. That’s it.


6 posted on 08/09/2010 7:20:33 AM PDT by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
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To: griswold3

I’m told by a trader that world wide, grain silos have been emptied. Next year there won’t be any surplus. It will be a world wide bidding war for grain. Those that can not afford grain, will bid up corn, soybeans.

It will be good for farmers, farm economies, exports.

Expect higher bread, cereal, chicken, beef and pork prices. Don’t be expecting your boss to give you a raise, either. And tough cookie for welfare, SSI people.


7 posted on 08/09/2010 7:27:00 AM PDT by Leisler ("Over time they create a legal system that plunders and a moral code that glorifies it." F. Bastiat)
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To: blam

Went to the mall yesterday and had to park across the street, again. Second weekend in a row.

Crappy economy? High unemployment? Hell, traffic at rush hour seems about the same. Only difference I can detect is watching more and more people do some really dangerous crap.


8 posted on 08/09/2010 7:34:25 AM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Frantzie

BS.

agreed.


9 posted on 08/09/2010 7:35:52 AM PDT by SpaceBar
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To: Larry Lucido
Are Markets Two Days Away From Being Suckerpunched By The Fed?
10 posted on 08/09/2010 7:36:13 AM PDT by blam
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To: Leisler

Our transportation business is 99% agricultural bulk commodiites.
We’ve never been so busy for August in 30 years. Something’s up!
Wheat harvest was not good here. The corn and beans are looking fine so far.
The typical fall fertiliaer fill up is going on now.


11 posted on 08/09/2010 7:37:37 AM PDT by griswold3 ('Regulation and law without enforcement is no law at all)
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To: Vendome

Where do you live?


12 posted on 08/09/2010 7:37:57 AM PDT by kabar
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To: kabar

San Jose, CA.

Do I owe you money? LOL


13 posted on 08/09/2010 7:40:26 AM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Leisler
Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices At Fastest Pace Since Early January


14 posted on 08/09/2010 7:45:25 AM PDT by blam
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To: Leisler

The UK which is going through final stages of Islamification is suffering where English people (whites) who do not get endless freebies like asylum seekers (muslims) are search for food bargains. Like squirrel. The UK will become an even nastier place as the invaders population booms.

This was all done by the Labour Party and left media including Rupert Murdoch (Fox News). The same thing is happening in America. Keep watching TV folks cause TV helps them.


15 posted on 08/09/2010 7:46:09 AM PDT by Frantzie (Television controls the American people/sheep)
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To: griswold3
Russia Agrees To Allow Some Previously Scheduled Wheat Exports

" Russia is caving after reports that a wheat ban would cause food riots in Egypt and South Africa. Another reason for wheat prices to keep sliding."

16 posted on 08/09/2010 7:50:04 AM PDT by blam
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To: blam

That’s better, lol!


17 posted on 08/09/2010 7:56:46 AM PDT by Larry Lucido
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To: Vendome
No, I was trying to find out if your experience with overflowing malls had to do with where you live. I live in the Wash DC metro area, the richest area in the country thanks to the USG and the parasite private sector that lives off of government contracts. We live in a bubble with low unemployment and packed malls. Happy days are here again. That is not true for the vast majority of the country.

My condolences on living in CA. It is the canary in the coal mine when it comes to America's future. It is going down the toliet and things will only get worse. It is a real shame.

18 posted on 08/09/2010 7:58:41 AM PDT by kabar
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To: blam

We won’t be contributing too much to the economy... saving and hoping is the rule of the day in this disaster of an economy.


19 posted on 08/09/2010 8:01:51 AM PDT by paulycy (Demand Constitutionality: Marxism is Evil.)
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To: Leisler
I’m told by a trader that world wide, grain silos have been emptied.

Russia has had another disaster in agriculture this summer, with unseasonably warm temperatures and drought. Moscow is currently under a smothering blanket of smog from raging wildfires.

Last week, the Russians announced they were stopping all wheat exports. India has been rumored to be already hoarding grain in anticipation of supply problems --- they were hit hard a few years ago when a similar situation developed.

Russia wildfires: Thick, toxic smog chokes Moscow residents

Fires Still Burning Around Moscow

Russian Fires Threaten Global Commodities Trade

Russia's wheat woes could hit U.S. grocery shelves

20 posted on 08/09/2010 8:01:52 AM PDT by snowsislander (In this election year, please ask your candidates if they support repeal of the 1968 GCA.)
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To: Vendome


Went to the mall yesterday and had to park across the street, again.
Second weekend in a row.

Same here in Columbia MO.
The late, great Paul Harvey would comment on how the unemployment rate
in Columbia was 1% back in late 1990s.
It’s not so good now, but if you drive past the major shopping center
(Columbia Mall) or places like Olive Garden...PACKED.

But I guess this shouldn’t be so suprising as Columbia lives on
the money distributed by the Federal and state guvmints.
That is to say, we have the major university (University of Missouri) and
private schools (Columbia College, Stephens College, etc.) propped up
by federal dollars.
Along with our large VA hospital complex (which I’m not opposed to
except for the over-large salaries paid to some of the staff).

Recession, what recession is an understandable comment on our local economy.
And the beneficiaries of the Federal cash infusions should thank their
lucky stars for the sacrifice made by taxpayers from other states!!!


21 posted on 08/09/2010 8:10:11 AM PDT by VOA
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To: blam

With a 170 year drought on Russian soil, it doubtful that they could meet demand in their own country.
removing ‘ban’ merely symbolic.


22 posted on 08/09/2010 8:41:50 AM PDT by griswold3 ('Regulation and law without enforcement is no law at all)
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To: blam
This is the second story in a row I've read that made me LOL!

As things continue to worsen under Obama, the MSM spin machine is in high gear with November just around the corner.

23 posted on 08/09/2010 9:27:51 AM PDT by Rational Thought
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To: blam

And this is just from what Michelle Obama is planning on buying this year! She has at least 40 close friends to shop for, you know.


24 posted on 08/09/2010 9:35:30 AM PDT by Pining_4_TX
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To: blam
I think we will have an awesome Christmas inventory.
25 posted on 08/09/2010 10:06:29 AM PDT by Vince Ferrer
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To: Vendome
Crappy economy? High unemployment? Hell, traffic at rush hour seems about the same. Only difference I can detect is watching more and more people do some really dangerous crap.

You're in California... We see the same thing in our area of CA....Everyone tell us everyone moved out, and all the businesses fled, yet I see no damn differences....lol...Of course, the out of staters will tell ya all these people are illegal aliens....

I love it!!

By the way, it was foggy this morning and calling for a high of 74 degrees and sunny....In August! Been like this all summer...Not complaining though...lol...

26 posted on 08/09/2010 10:13:43 AM PDT by dragnet2
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To: snowsislander

How is the grain situation in the US?


27 posted on 08/09/2010 10:23:33 AM PDT by Patriotic1 (Dic mihi solum facta, domina - Just the facts, ma'am)
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To: Pining_4_TX
"And this is just from what Michelle Obama is planning on buying this year! She has at least 40 close friends to shop for, you know."

Fortunately for her, she has your checkbook...she won't run out of money for all her friends.

28 posted on 08/09/2010 10:29:18 AM PDT by blam
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To: Patriotic1
"How is the grain situation in the US?"

I read a FReeper comment on another thread that we were going to have a bumper wheat crop...don't know how true it is.

29 posted on 08/09/2010 10:31:28 AM PDT by blam
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To: blam; Patriotic1
I read a FReeper comment on another thread that we were going to have a bumper wheat crop...don't know how true it is.

I've read the same --- it's even mentioned in one of my links in posting #20 --- but I haven't looked at it otherwise.

I had noticed the Russian fire story only today although it apparently has been going on for a while, and realized that it was likely tied into last week's mention of the wheat export ban.

30 posted on 08/09/2010 11:10:17 AM PDT by snowsislander (In this election year, please ask your candidates if they support repeal of the 1968 GCA.)
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To: dragnet2

It’s going to a particularly crappy day up here. /s

This Globull Warming Crap has got to be dealt with.

Weather is just spectactular, mildly warm and Thank God. I don’t care for heat.

If we are moving into Globull cooling, works for me.

More snowboarding.


31 posted on 08/09/2010 11:12:22 AM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: blam

No thanks, I’m making mine. Quilts for the kids and grand kids. 2 more to go and I’m done.


32 posted on 08/09/2010 3:07:07 PM PDT by GailA (obamacare paid for by cuts & taxes on most vulnerable Veterans, retired Military, disabled & Seniors)
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To: blam
FWIW...

Baltic index rises, capesize market rallies

Christmas could go well. I'm worried about everything going pear-shaped after New Year's.

33 posted on 08/09/2010 3:13:54 PM PDT by mewzilla (Still voteless in NY-29. Over 400 roll call votes missed and counting...)
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