Free Republic 3rd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $70,572
80%  
Woo hoo!! And after accruing the balance of the monthlies we're now over 80%!! Less than $18k to go!! Thank you all very much!! God bless.

Keyword: consumer

Brevity: Headers | « Text »
  • 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...
  • Extra Tax Refunds Giving Consumers A Short-Term Boost

    04/19/2010 9:18:11 AM PDT · by Slyscribe · 28 replies · 1,025+ views
    IBD's Capital Hill ^ | 4/19/2010 | Jed Graham
    Amid all the optimism that the consumer is back, it’s worth considering one of the reasons why: a huge tax refund season. As the economy was nose-diving last spring, most people probably overlooked the record-smashing $259 billion in refunds awarded (as of April 24) — roughly $40 billion, or 17% ahead of the 2008 tax season. Back then, panic was in the air, consumers were retrenching and the refunds acted as a Band-Aid on an open wound. But this year, with an economic upturn under way, an even more rewarding tax season is serving more as a vitamin boost. New...
  • Recession over?

    03/30/2010 11:04:58 AM PDT · by faucetman · 30 replies · 835+ views
    me ^ | 3/30/2010 | faucetman
    I just heard on the news that the Consumer Confidence Index was up for March at 52.5, up 6.1. I don't really follow this or understand it, but I usually notice whether it is up or down. Then they added that it is normally around 90! WHAT? I had not ever heard that before. I thought I would look into it a little bit. Wikipedia good enough for my casual inquiry. "The Consumer Confidence Index was started in 1967 and is benchmarked to 1985=100. This year was chosen because it was neither a peak nor a trough. The Index is...
  • Democratic AGs call for consumer protection agency

    03/07/2010 11:55:06 AM PST · by legalwatch · 8 replies · 74+ views
    WASHINGTON (Legal Newsline)-A group of Democratic state attorneys general are calling on the U.S. Senate to pass legislation to create a national consumer protection watchdog agency, but warning lawmakers not to limit AGs' powers in the process. Among attorneys general doggedly pushing for the creation of the U.S. Consumer Financial Protection Agency is Lisa Madigan of Illinois, Tom Miller of Iowa and Richard Cordray of Ohio.
  • Bankruptcy filings volume in US is still soaring despite economic recovery signs(consumer)

    03/04/2010 7:02:41 AM PST · by TigerLikesRooster · 20 replies · 411+ views
    Bankruptcy filings volume in US is still soaring despite economic recovery signs March 3, 2010 - 4:55am Bankruptcy filings volume in US is still soaring despite economic recovery signs As American Bankruptcy Institute data showed, despite good signs of economic recovery consumer bankruptcy filings surged this month compared to a year earlier figures. Thus the data reflected 14% surge on an year basis. As for the monthly changes, 9% increase from January is represented by 111,693 cases filed last month. And that financial distress is driving more Americans to file for Chapter 7 bankruptcy, which allows a court to discharge...
  • Energy Efficiency and it’s Impact on Energy Demand

    03/01/2010 9:53:18 AM PST · by goldenwings · 3 replies · 195+ views
    OilPrice.com ^ | 02/28/2010 | Marco Bertoli
    Energy efficiency is one of the themes most discussed by those who are interested in issues regarding energy and the environment. The key question is how effective these proposed solutions will be. Will these technological solutions labeled as ‘energy efficiency’ (i.e. an increase in power plants generation efficiency, cogeneration, home insulation, more efficient electric motors, cars, light bulbs, etc.) really lead to a decrease in the global demand for energy? First of all, we should distinguish between two different economic spheres: production and consumption. With respect to production, the proposed solutions (increases in power plants efficiency, changes to EFF1 electric...
  • Consumer Sentiment Weakens -- WEAKER THAN ESTIMATES

    02/26/2010 7:40:55 AM PST · by Calif Conservative · 10 replies · 266+ views
    Fox Business ^ | 2-26-2010 | Jeffry Bartash
    Friday, February 26, 2010 Consumer Sentiment Dips in February You must login or register in order to recommend this. ShareThis| Respond to Editor | Print By Jeffry Bartash MarketWatch Pulse NEW YORK--U.S. consumer sentiment was weaker in February, as Americans grew more impatient with the government's gridlock over efforts to stimulate jobs, a survey released on Friday showed. While not fearful of another spike in layoffs, consumers have turned more gloomy about their job and income prospects, according to the Thomson Reuters/University of Michigan's Surveys of Consumers. "Consumers have been getting more impatient with the slow progress of the stimulus...
  • Citigroup Warns Customers It May Refuse To Allow Withdrawals

    02/20/2010 8:47:58 AM PST · by mkjessup · 108 replies · 3,308+ views
    Business Insider - Clusterstock ^ | 19 Feb 2010 | John Carney
    The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days. "Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by...
  • Obama's Consumer Agency Bill May Be in Jeopardy (On the eve of the State of Obama Show - perdone?)

    01/27/2010 4:10:01 PM PST · by Libloather · 5 replies · 293+ views
    Ponte Al Dia ^ | 1/27/10 | Charlie Ericksen
    Obama's Consumer Agency Bill May Be in JeopardyPor Charlie Ericksen - Hispanic Link 16:57 | 01/27/10 WASHINGTON, D.C. — Multiple news reports indicated that Senate Banking Committee Chairman Sen. Chris Dodd (D-CT) — in an effort to garner bipartisan support — is considering dropping the proposed Consumer Financial Protection Agency from legislation to reform U.S. financial regulation. After securing numerous compromises with moderate Democrats, the consumer agency is a key component of President Obama’s vision for regulatory reform. The Administration has repeatedly fought back attempts to eliminate the agency as a standalone entity. Such an agency is seen by supporters...
  • The Scariest Retail Sales Chart Ever

    01/11/2010 8:25:33 AM PST · by blam · 46 replies · 3,499+ views
    The Business Insider ^ | 1-11-2010 | Joe Weisenthal
    The Scariest Retail Sales Chart Ever Joe Weisenthal Jan. 11, 2010, 8:55 AM Ok, this isn't quite as scary as the scariest jobs chart ever, but this chart of retail sales in various recessions shows that the collapse we've seen is like nothing we've send before. In some recessions (especially the previous one) retail sales hardly drop at all. This one was fast and furious, and well behind anything we've seen yet. This is one reason why state tax collections have done an utter cliff dive. Source: The Rockefeller Institute
  • Check Out The Retail Home Run In December

    01/07/2010 3:39:53 PM PST · by blam · 9 replies · 503+ views
    The Business Insider ^ | 1-7-2010 | David Bodamer
    Check Out The Retail Home Run In December David Bodamer Jan. 7, 2010, 4:18 PM After a weak November, retailers bounced back in a big way in December. ICSC, Retail Forward, Retail Metrics and RetailSails have all done the math in comparing results from various chains and the verdict is that many retailers had a very merry Christmas and largely beat expectations. Retail Forward, Retail Metrics and RetailSails concluded that same-store sales jumped 3.0 percent in the month while ICSCÂ’s figures showed a 2.8 percent improvement. That made December the best month for retailers since July 2008 or April 2008,...
  • Consumer Confidence Grows

    12/30/2009 2:29:45 PM PST · by blam · 5 replies · 302+ views
    Seeking Alpha ^ | 12-29-2009
    Consumer Confidence Grows Last Update: 29-Dec-09 10:25 ET The Conference Board's Consumer Confidence Index rose in December to 52.9 from 50.6 in November, which was just below the consensus estimate of 53.0. The jump in confidence mirrors December's boost to the University of Michigan Consumer Sentiment index. The details of the report are somewhat puzzling. The entire increase in the index was due to the Consumer Expectations index rising from 70.3 to 75.6 in December. The Present Situation Index actually declined from 21.2 to 18.8 in December. Given that the present situation index is highly correlated with the current employment...
  • Is there a consumer's guide that isn't Consumer Reports?

    12/27/2009 7:20:27 AM PST · by GOP_Party_Animal · 30 replies · 1,384+ views
    12/27/2009 | me
    I'd rather not send money to the People's Consumer's Union so I can get their ratings for a new washer and dryer. Are there others that I could use?
  • Senate's Solution: Consumer Choice Is Dead on Arrival

    12/15/2009 11:37:29 PM PST · by Nachum · 11 replies · 616+ views
    American Thinker ^ | 12/15/09 | Linda Halderman, MD
    According to the health care reform bill being debated in the U.S. Senate, there's an easy way to solve the problem of the uninsured in this country: * Force people to buy health insurance just like we do with auto insurance. * Make insurance companies accept everyone who applies, including those who want insurance only when they're sick. * Don't let companies get away with selling plans that don't cover everything.
  • New York Times : Americans Now Owe Less. That’s Not All Good.

    12/12/2009 8:53:21 AM PST · by SeekAndFind · 50 replies · 1,248+ views
    New York Times ^ | 12/12/2009 | Floyd Norris
    AMERICAN consumers owe less now than they did a year ago. Before the current financial crisis, that would have been unthinkable. Figures released this week by the Federal Reserve showed that Americans owed $10.8 trillion on home mortgages at the end of the third quarter, down 2.2 percent from a year earlier and the lowest level since mid-2007. Similarly, the Fed said that outstanding credit card bills in October totaled $888 billion, down 8.5 percent from a year earlier. That number was lowest since March 2007. Those trends do not, however, necessarily indicate that Americans have paid down their debts...
  • Dow at new '09 high (better-than-expected reading on consumer spending, stronger USD propels Dow)

    12/12/2009 8:49:52 AM PST · by SeekAndFind · 13 replies · 590+ views
    CNN Money ^ | 12/12/2009 | Alexandra Twin
    NEW YORK (CNNMoney.com) -- Better-than-expected reports on retail sales and consumer sentiment lifted big blue chip stocks Friday, but gains were limited by weakness in technology and the strength of the U.S. dollar. The Dow Jones industrial average (INDU) rose 66 points, or 0.6%, to finish at its highest level of 2009. The S&P 500 index (SPX) gained 4 points, or 0.4%. The Nasdaq composite (COMP) ended little changed. The Dow and the S&P ended the week higher, but the Nasdaq slipped. Big consumer stocks Coca-Cola (KO, Fortune 500), McDonald's (MCD, Fortune 500) and Walt Disney (DIS, Fortune 500) were...
  • Weak Consumer Spending, Rising Unemployment Snag Economic Recovery

    11/25/2009 2:49:38 AM PST · by Son House · 8 replies · 696+ views
    FOXNEWS.com ^ | November 25, 2009 | FOXNEWS.com
    Some employers are continuing to lay off workers. Struggling Internet company AOL last week said it plans to cut up to 2,500 jobs, more than a third of its work force, once it is spun off from the media conglomerate Time Warner Inc. And Hartford, Conn.-based health insurer Aetna Inc. said it will cut 625 jobs, or nearly 2 percent of its staff, and will make similar job cuts in the first quarter of 2010 due to the lagging economy and the potential impact of health care reform. Federal Reserve policymakers said at their November meeting that the unfolding recovery...
  • Consumer Confidence Is Tumbling Back Down

    11/13/2009 7:45:01 AM PST · by FromLori · 11 replies · 591+ views
    The Reuters/U. of Michigan Consumer Sentiment November report just hit the wire and the results are not looking good. Sentiment fell during early November to the weakest level in three months due to a weak economy and lagging job market. The index of consumer expectations fell to 63.7 in early November from 68.6 in October. Reuters: "Confidence tumbled in early November due to the grim financial realities faced by consumers as well as weaker economic prospects for the year ahead -- importantly, the decline in confidence was already in place before the announced increase in the unemployment rate to 10.2...
  • Don't Do It! (Cashing Out 401ks)

    11/09/2009 7:34:12 AM PST · by blam · 53 replies · 2,858+ views
    The Market Ticker ^ | 11-08-2009 | Karl Denninger
    Don't Do It! (Cashing Out 401ks)Monday, November 9. 2009 Posted by Karl Denninger in Consumer at 08:44 Grrrrr.... As the last of his severance pay dwindled away in March, Brad Cleghorn of northwest suburban Marengo cashed out his 401(k) plan in order to pay his mortgage and feed his family. Cleghorn is not alone. A Hewitt Associates study shows that 46 percent of workers with 401(k) plans who lost or switched jobs cashed the plans in, a trend that could lead to serious problems when younger generations of people working today reach retirement. That's not the real problem folks. Let...
  • Consumer Credit: Awful

    11/06/2009 2:54:23 PM PST · by blam · 8 replies · 609+ views
    The Market Ticker ^ | 11-6-2009 | Karl Denninger
    Consumer Credit: AwfulFriday, November 6, 2009 Posted by Karl Denninger Where are my green shoots? Consumer credit decreased at an annual rate of 6 percent in the third quarter of 2009. Revolving credit decreased at an annual rate of 10 percent, and nonrevolving credit decreased at an annual rate of 3-3/4 percent. In September, consumer credit decreased at an annual rate of 7-1/4 percent. Yuck. Here's the graphical representation. Nothing good in here. The non-revolving flattened out some in September (gee, you think "cash for clunkers" might have influenced August and September?) but revolving credit - that is, credit cards...
  • Consumer Confidence Dips Due to Jobs - And the Price of Oil?

    10/28/2009 3:16:55 AM PDT · by Son House · 23 replies · 1,501+ views
    Seeking Alpha ^ | October 28, 2009 | Seeking Alpha
    U.S. consumers turned decidedly more pessimistic in October, according to a report released Tuesday, with households increasingly worried about job prospects. The Conference Board, a private research group, said its monthly Consumer Confidence Index fell to 47.7 this month, from a revised 53.4 in September, which was originally reported as 53.1. The current month's reading was well below economists' projections of 53.2, according to a survey conducted by Dow Jones Newswires. The downturn in consumer confidence at this stage of the recovery is to be expected, as it has occurred in previous recoveries (please see chart below), and does not...
  • GDP Reminder: Stock Market Isn't the Economy, The Consumer Is[Bull Market on Government Spending]

    10/16/2009 3:09:33 AM PDT · by Son House · 7 replies · 682+ views
    Seeking Alpha ^ | October 16, 2009 | Seeking Alpha
    You have to play the game, but remember to keep your eye on the ball: as we've smoothly entered this earnings season, broad index plays are a bit inadvisable. There's the usual tango between earnings reports and future guidance, profits and revenues; but it's getting so hard to figure out which datum is leading the dance and which is following. How heavily are investors weighing profits, as the economy's thirsting for revenue growth to affirm a recovery? I posted an article a couple of weeks ago that discussed the Investor's Cycle of Psychology: The rally gained steam through short covering,...
  • Obama steps up push for consumer protection agency

    10/09/2009 5:46:59 PM PDT · by My Favorite Headache · 19 replies · 858+ views
    AP ^ | 10-9-2009
    WASHINGTON – President Barack Obama fought to keep his proposed banking overhaul on track Friday, casting the political struggle ahead as one between big financial interests and average Americans victimized by complex or unscrupulous financial transactions. The president illustrated his call for a consumer finance agency by showcasing five unwitting borrowers and bank customers whose troubles ranged from massive overdraft fees to unwanted interest-only mortgages. "My concern are the millions of Americans who behaved responsibly and yet still found themselves in jeopardy because of the predatory practices of some in the financial industry," Obama said from the East Room of...
  • Audio: Consumer Analyst Davidowitz: "Obama talks like 'imbecile'; Worst Christmas in 40 years!"

    10/08/2009 3:32:08 AM PDT · by Beloved Levinite · 5 replies · 819+ views
    WBBM 780 ^ | October 6, 2009 | Howard Davidowitz
    Howard Davidowitz On NBH 10-6-09 Howard Davidowitz, Chairman and Chief Investment Officer at Davidowitz and Associates joins Regine during the WBBM Noon Business Hour to discuss the retail sector.
  • The Economy is a Lie, Too

    09/26/2009 12:11:59 AM PDT · by underthestreetlite · 105 replies · 3,628+ views
    Baltimore Chronicle & Sentinel ^ | 23 September 2009 | Paul Craig Roberts
    Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over. The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered...
  • Consumer Reports: Ford Mustang Beats the Chevrolet Camaro & Dodge Challenger in Tests in Next Issue

    09/01/2009 12:27:49 PM PDT · by wrrock · 15 replies · 948+ views
    cars ^ | 9/1/ | cars
    In the October 2009 issue of Consumer Reports, the freshened Ford Mustang outpointed two other reincarnated muscle cars — the Chevrolet Camaro and the Dodge Challenger. The Mustang received a Very Good overall road test score of 78, outpointing the Camaro which received a Very Good 71, and the Challenger, which received a Good 53 points.
  • Stock futures signal sharp drop after Asia selloff

    08/17/2009 1:46:47 AM PDT · by TigerLikesRooster · 4 replies · 684+ views
    Reuters ^ | 08/17/09
    Stock futures signal sharp drop after Asia selloff On Monday August 17, 2009, 4:28 am EDT PARIS/LONDON (Reuters) - Stock index futures extended their losses early on Monday, mirroring a selloff in Asian and European stocks on mounting worries the equities' recent surge had run ahead of the global economic recovery. At 4:18 a.m. EDT, futures for the S&P 500 were down 1.92 percent, Dow Jones futures were down 2.11 percent and Nasdaq 100 futures were down 2.11 percent. Chinese stocks (^SSEC - News) sank 5.8 percent to their lowest close in two months on Monday on worries about added...
  • From Today's Numbers, A Recovery Is Hard to See

    08/14/2009 2:39:40 PM PDT · by SeekAndFind · 6 replies · 618+ views
    Seeking Alpha ^ | 8/14/2009 | Tom Lindmark
    Another day of economic data that doesn’t spell raging recovery. Industrial Production Capacity utilization increased slightly from 68.1% in June to 68.5% in July. Industrial production was up 0.5% which is the first increase in that number since December 2007. Manufacturing production was up 1% but that was almost entirely due to auto companies ramping up production after their summer shutdown which was exacerbated by the bankruptcies of GM and Chrysler. Taking autos outo fo the equation, manufacturing was up 0.2%. Overall, the economy still has enormous excess capacity. Their is nothing in these numbers to suggest that new investment...
  • Sluggish July sales show tight-fisted consumers

    08/06/2009 7:12:24 AM PDT · by Need4Truth · 8 replies · 432+ views
    Yahoo-AP ^ | August 6, 2009 | Anne D'Innocenzio
    NEW YORK (AP) -- Shoppers, worried about job security and finding fewer options among the sales bins, remained tight-fisted in July, resulting in sluggish sales for many merchants and raising concern about the back-to-school shopping season's health.
  • Consumer confidence takes second straight monthly drop

    08/05/2009 6:29:51 AM PDT · by FromLori · 2 replies · 329+ views
    Consumer confidence took its second consecutive monthly drop in July, the Conference Board reported Tuesday, underscoring still-gloomy sentiment about the U.S. economy. The index dropped to 46.6 in July from an unrevised 49.3 in June. In May, the confidence gauge stood at 54.8. The confidence measure was worse than expected. Economists surveyed by MarketWatch were expecting confidence to dip to 48.0 in July from the June reading. See Economic Calendar. The weaker-than-expected July number helped to sap stocks after the opening on Tuesday. The Dow Jones Industrial Average (INDU 9,320, +33.63, +0.36%) was recently off by 37 points. The June...
  • AG sues to overturn default judgments against consumers

    07/27/2009 2:33:10 PM PDT · by freedommom · 3 replies · 495+ views
    Times Herald-Record ^ | July 27, 2009 | Michael Randall
    New York Attorney General Andrew Cuomo is going to court to try to overturn about 100,000 default judgments he claims were improperly obtained against consumers — including more than 6,000 in Orange, Sullivan and Ulster counties. The lawsuit, filed this week in state Supreme Court in Erie County, names as defendants 35 law firms and two debt collection agencies who relied on a Long Island company, American Legal Process, to notify consumers they faced debt- related lawsuits. According to Cuomo's office, ALP failed to properly serve consumers with legal papers and provided fraudulent affidavits of service. Many consumers never found...