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Keyword: consumer

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  • 51 million, mostly lower-income, will do worse under new tax law

    12/17/2010 2:30:34 PM PST · by wrrock · 26 replies
    Consumer Reports ^ | 12/17/2010 | Consumer Reports
    The federal tax bill passed by Congress yesterday includes some extras for the middle class and lots of goodies for the wealthy. But individuals making less than $20,000 and households making less than $40,000 a year will actually get less tax relief in 2011 than they got in 2010 and 2009. That's because the Making Work Pay credit, a temporary tax credit that's been in effect for the past two years, is going away as of January 1. That credit provides up to $400 per individual, $800 per household, for all eligible workers. And it adds more to the pockets...
  • The Certified Angus Beef scam

    12/01/2010 11:39:58 AM PST · by JimVT · 99 replies
    JimVT | 12/01/10 | JimVT
    The latest screw the consumer attack is coming from Angus Beef cattlemen and America's meat sellers. Try and find a piece of meat with the "Certified Angus Beef" (CAB) sticker on it that also has the acceptable USDA grade on it. Very difficult, if at all. My local market managers when asked about the USDA grade on thier CAB meat say: "Oh, it's choice or select." So how are we supposed to know which? I don't knowingly buy "select". This is a scam...ripoff...and consumer fraud! Complain to your meat seller and tell your congressman to force the USDA to stop...
  • Obama Administration Buys One in Four Hybrids as Consumer Market Slumps

    11/23/2010 1:43:33 PM PST · by Nachum · 29 replies
    fox news ^ | 11/23/10 | http://nation.foxnews.com/hybrid-cars/2010/11/23/obama-administration-buys-one-four-hybrids-consumer
    President Barack Obama's administration has bought almost a fourth of the Ford Motor Co. and General Motors Co. hybrid vehicles sold since he took office, accelerating federal purchases as consumer demand wanes. The U.S. General Services Administration, which runs the government fleet, bought at least 14,584 hybrid vehicles in the past two fiscal years, or about 10 percent of 145,473 vehicles the agency purchased in that period, according to sales data obtained by Bloomberg under a Freedom of Information Act request. In fiscal 2008, hybrids accounted for less than 1 percent of government purchases, the data showed.
  • Survey of Consumers Thomson Reuters / University of Michigan

    10/30/2010 7:31:56 AM PDT · by HangnJudge · 15 replies
    University of Michigan ^ | 10/28/2010 | Richard Curtin
    Confidence in government economic policies has fallen to the lowest level since the closing months of the Bush presidency, with just 11% of consumers holding favorable evaluations of Obama’s policies. Although mid-term elections primarily respond to local rather than national issues, residents of nearly all local areas expressed economic discontent. It would not be surprising for confidence to rebound after the election; it would be surprising if those gains proved to be more than temporary. If the lame duck Congress does not immediately pass an extension of the Bush tax cuts, not even deep discounts will secure modest gains in...
  • Consumer Confidence Rebounds In October, Beats Expectations

    10/26/2010 7:23:09 AM PDT · by blam · 8 replies
    The Business Insider ^ | 10-26-2010 | Gregory White
    Consumer Confidence Rebounds In October, Beats Expectations Gregory White Oct. 26, 2010, 10:00 AM Consumer confidence rose to 50.2 in October. Expectations were for a 50. In September, consumer confidence plunged to 48.5. That was a seven month low. Markets barely moved on the news, and still remain negative. Dow down 0.33% NASDAQ down 0.44% S&P 500 down 0.33% Check out 20 signs the American consumer is completely tapped out >[snip]
  • HHS Defends ($8.7 Million) Consumer Website After Insurer Group Questions A New Feature

    10/07/2010 7:37:56 PM PDT · by Libloather · 1 replies
    HHS Defends Consumer Website After Insurer Group Questions A New FeatureArticle Date: 04 Oct 2010 - 0:00 PDT HealthCare.Gov, the consumer health care insurance website run by the federal government, unveiled a slew of new features Friday morning, but the insurance industry raised some concerns. The Hill: New data posted Friday on the government's health insurance Web portal offer consumers a "pretty good measure" of their chances of being denied coverage, the deputy director of HHS's Office of Consumer Support said. 'It's not perfect,' said Karen Pollitz, 'but it gives you a pretty good idea about what to expect in...
  • The Recent Collapse In Consumer Growth Has Been WORSE Than The Great Recession

    10/04/2010 2:34:28 PM PDT · by blam · 24 replies
    The Business Insider ^ | 10-4-2010 | Doug Short
    The Recent Collapse In Consumer Growth Has Been WORSE Than The Great Recession Doug Short Oct. 4, 2010, 3:32 PM For the past several months, the Consumer Metrics Institute's Daily Growth Index has been one of the most interesting data series I follow, and I recommend bookmarking the Institute's website. Their page of frequently asked questions is an excellent introduction to the service. The charts below focus on the 'Trailing Quarter' Growth Index, which is computed as a 91-day moving average for the year-over-year growth/contraction of the Weighted Composite Index, an index that tracks near real-time consumer behavior in a...
  • Elizabeth Warren To Be Appointed to Help Create Consumer Finance Protection Bureau

    09/15/2010 3:59:27 PM PDT · by Nachum · 9 replies
    abc news ^ | 9/15/10 | MATTHEW JAFFE
    President Obama will select Elizabeth Warren to join the administration in a special advisory role to help form the new Consumer Financial Protection Bureau, a watchdog agency she first proposed back in 2007. The move, first reported by ABC News' Jake Tapper, gives Warren an important role in creation of the bureau, but avoids, for now, a confirmation fight in the Senate. Her selection will appease a slew of prominent lawmakers, progressives, and labor unions who in recent months have clamored for her nomination to the post. After all, the new agency -- part of the sweeping Wall Street reform...
  • Consumer Candidate May Avoid a Vote

    09/14/2010 7:11:38 AM PDT · by Pining_4_TX · 5 replies
    The New York Times ^ | 09/13/10 | Sewell Chan
    The Obama administration is considering appointing the legal scholar Elizabeth Warren to run a new consumer bureau on a temporary basis to avoid a potentially bruising confirmation battle in the Senate, according to people who have been briefed on the search.
  • FDIC's New Power to Dissolve Companies Raises Concerns

    09/06/2010 8:58:42 PM PDT · by Rabin · 19 replies
    The National Law Journal ^ | September 07, 2010 | Jenna Greene
    FDIC's expanded authority is part of the 2,300-page Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law on July 21. The new regime for dissolving megacompanies -- one with almost no judicial oversight and in which creditors' rights are few. A company has essentially no choice about the FDIC taking over as receiver. "It may be difficult to try to draw a box around what that is," said Renée Dailey
  • Why Saving Is Right and Economists Are Wrong (Consumer spending is NOT the way to recovery)

    09/02/2010 6:47:48 AM PDT · by SeekAndFind · 10 replies
    Minyanville ^ | 09/02/2010 | Jeff Harding
    In George Orwell’s brilliant novel Nineteen Eighty-Four, one of the characters, Syme, in discussing the nature of Newspeak, says “It’s a beautiful thing, the destruction of words.” Newspeak was a systematic attempt by the dictators of Oceania, a totalitarian society eerily similar to North Korea, to control thought by eliminating words that gave rise to ideas they disapproved. What Syme and Orwell are talking about is that the destruction of words is the destruction of ideas. There is a parallel to this in contemporary economic thought. Mainstream economists, Keynesians, Neo-Keynesians, and Neoclassicists, would have you believe that what common sense...
  • You Say Consumers Aren't Spending? Hogwash

    08/27/2010 6:11:27 PM PDT · by SeekAndFind · 20 replies
    Smart Money ^ | 08/27/2010 | Jack Hough
    Grab the resuscitation paddles. The American consumer has lost the will to shop. Haven't you heard? Jolts of stimulus cash are needed to get sales registers ringing again and restore lost jobs. Don't believe it. Such logic was used to justify programs like the "cash for clunkers" incentive, which expired a year ago, and additional cash perks for home buyers, which ran out in April. Judging by data reported by the Bureau of Labor Statistics, the programs failed to produce a surge of home-building and car-making jobs. The two charts below suggest why. The first shows our supposed crisis of...
  • Intel: Chip giant warns consumer demand for PCs is weakening

    08/27/2010 4:51:32 PM PDT · by Nachum · 54 replies · 2+ views
    Mercury News [San Jose, CA] ^ | 8/27/10 | Steve Johnson
    In another sign the economic recovery is stalling, Intel -- whose fortunes are a key barometer of the technology sector's health -- cut its forecast for third-quarter sales, citing "weaker than expected demand for consumer PCs in mature markets." The Santa Clara company -- the worlds' biggest chip maker -- said it now expects its revenue for the quarter to range between $10.8 billion and $11.2 billion, compared with its previous prediction of $11.2 billion to $12 billion.
  • Consumer confidence continues to sink (Obamanomics continue to sink consumer confidence)

    07/27/2010 8:11:15 AM PDT · by tobyhill · 6 replies
    CNN ^ | 7/27/2010 | Blake Ellis
    Uncertainty about the economy continued to shake consumer confidence in July, pushing a key measure of morale to the lowest level since February. The Conference Board, a New York-based research group, said Tuesday that its Consumer Confidence Index dropped for a second straight month, to 50.4 in July from June's upwardly revised level of 54.3. July's reading was lower than expected. Economists had forecast the index to have ticked down to 51 in July from 52.9 in June, according to a consensus estimate from Briefing.com. "Consumer confidence faded further in July as consumers continue to grow increasingly more pessimistic about...
  • Battle brews over director for new Consumer Financial Protection Bureau (Algore-"Take care of THIS")

    07/23/2010 8:02:09 PM PDT · by Libloather · 10 replies · 1+ views
    LA Times ^ | 7/22/10 | Jim Puzzanghera
    Battle brews over director for new Consumer Financial Protection BureauThe agency with the power to make rules for credit cards, mortgages and other products is created as Obama signs the financial overhaul law. By Jim Puzzanghera, Los Angeles Times July 22, 2010 Reporting from Washington — President Obama reversed decades of lax oversight of the financial industry Wednesday by signing a landmark overhaul of regulations, but he still faces a major task — appointing a director for the powerful new agency charged with protecting consumers from unscrupulous deals.
  • Bankrupt Studies Should Disqualify Warren As Consumer Cop

    07/16/2010 12:49:18 PM PDT · by Slyscribe · 11 replies · 1+ views
    IBD's Capital Hill ^ | 7/16/2010 | David Hogberg
    White House senior adviser David Axelrod told reporters Friday that Harvard Law professor Elizabeth Warren is a candidate to head the Consumer Financial Protection Bureau created in the recently passed financial reform legislation. Warren, who currently heads the TARP congressional oversight panel, was one of the first to propose such a bureau. But making Warren the consumer finance protection cop is a bad idea. She has been more than willing to produce research on consumer finances that is shoddy at best and dishonest at worst.
  • Consumer Bankruptcy Filings Jump 14%

    07/05/2010 10:15:43 AM PDT · by Son House · 16 replies
    FOXNEWS ^ | July 02, 2010 | FOXNEWS
    The number of filings rose to 770,117 from 675,351 a year earlier, the group said, citing data from the National Bankruptcy Research Center. Sam Gerdano, the ABI's executive director, said the increase stemmed from years of rising consumer debt levels and low savings rates, together with high unemployment and the nation's housing difficulties. Though consumer filings dropped 8 percent in June from May to 126,270, Gerdano projected there will be more than 1.6 million new bankruptcy filings in all of 2010. The U.S. Labor Department earlier said U.S. nonfarm payrolls fell 125,000 in June, the largest drop since October. An...
  • Consumer confidence tumbles in June

    06/29/2010 8:34:29 AM PDT · by NormsRevenge · 15 replies · 1+ views
    AP Finance on Yahoo ^ | 6/29/10 | Anne D'Innocenzio - ap
    NEW YORK – Americans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead. The Conference Board, a private research group based in New York, said Tuesday that its Consumer Confidence Index dropped almost 10 points to 52.9, down from the revised 62.7 in May. Economists surveyed by Thomson Reuters had been expecting the reading to dip slightly to 62.8. June's reading marked the biggest drop since February, when the index fell 10 points. The index...
  • Why Retails Sales Are Much Better Than They Look

    06/11/2010 7:34:27 AM PDT · by blam · 7 replies · 418+ views
    The Business Insider ^ | 6-11-2010 | Vincent Fernando, CFA
    Why Retails Sales Are Much Better Than They Look Vincent Fernando, CFA Jun. 11, 2010, 10:12 AM Econompic breaks down today's retail sales report nicely, showing how retails sales missed expectations mostly due to falling building materials and gasoline sales. Econompic: Building materials (which fell back to earth following a spike in April to take advantage of the end of the tax credit) and a 20% decline in the price of gasoline led the fall (these figures are nominal). Subtracting those outliers we still have a decline, which shows weakness. Just not as weak as early reports would indicate. So...
  • America's shoppers: The retailers' dilemma

    06/01/2010 8:36:38 AM PDT · by TigerLikesRooster · 14 replies · 634+ views
    Economist ^ | 05/27/10
    America's shoppers The retailers' dilemma As they decide how to stock their shelves later this year, America’s shopkeepers are debating whether the recent rise in consumer spending will last May 27th 2010 | NEW YORK | From The Economist print edition THE mood of executives at retail firms normally moves in lockstep with that of their customers. But in America the news on May 25th that consumer confidence had reached its highest level in two years left them oddly subdued. Consumer spending per person, which fell for two years in a row for the first time since the Depression last...