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Thread: Retail Sales Down 2 Straight Months

  1. #1
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    Default Retail Sales Down 2 Straight Months

    The Federal Reserve wanted to slow things down. Looks like they got their wish.

    https://abcnews.go.com/US/wireStory/...ember-96503675

    They have been touting strong employment numbers but that will go to shit as spending slows. Compound that with high credit card debt and record low saving and things are gonna get interesting.

    Tech companies are already shedding jobs.

  2. #2
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    High CC balances, high interest and and low savings rates are pretty telling, IMO, of whats ahead.
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  3. #3
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    It’s getting back to normal, which it should.

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    Yep Microsoft layed off 10,000 today.
    Gettin old is for pussies! AND MY NEW TRUE people say like Capt. Tom >>>>>>>>>/
    "Wow, often imitated but never duplicated. No one can do it like the master. My hat is off to you DRDUCK!"

  5. #5
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    Amazon laying off 18k people as well. Not sure if that's normal. Seems like a big number to me.

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    I wonder how much of that is seasonal layoffs for amazon in distribution centers and what not. I have to imagine they ramp up for the holidays like UPS and the like. Maybe I'm wrong but just throwing the thought out there.
    "This is My commandment, that you love one another as I have loved you." John 15:12

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  7. #7
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    Mortgage originators will be delivering pizzas here directly.
    "Rivers and the inhabitants of the watery elements are for wise men to contemplate and for fools to pass by without consideration" -Izaak Walton

  8. #8
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    Quote Originally Posted by BigBrother View Post
    Mortgage originators will be delivering pizzas here directly.
    I know a lot of originators and realtors that suddenly have tons of time on their hands.
    DILLIGAF

  9. #9
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    Quote Originally Posted by Hogg View Post
    I know a lot of originators and realtors that suddenly have tons of time on their hands.
    Most of the folks that I know in those professions always save during the good times for rainy days. /s

  10. #10
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    Quote Originally Posted by BigBrother View Post
    Mortgage originators will be delivering pizzas here directly.
    There's a whole lot of glamour shot 25-35 year old fresh realtors that will be trying to sell you CBD creams here shortly.

  11. #11
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    "It's going to hurt.": 300,000 South Carolinians prepare for major cuts in SNAP benefits February

    Starting Feb. 1, nearly 300,000 South Carolinians who rely on SNAP benefits will face more challenges feeding themselves and their families.

    Jan 18, 2023

    Starting Feb. 1, nearly 300,000 South Carolinians who rely on SNAP benefits will face more challenges feeding themselves and their families.

    Chad Scott with Harvest Hope Food Bank explained the benefits work a lot like food stamps and were bolstered by emergency funding during the pandemic.

    "SNAP benefits have been maximized by the federal government since COVID started," he said. "At the end of this month will be the first time when they're back on income contingent. So, we expect that number of what we see in our lines every week to increase exponentially."

    According to the USDA, that emergency funding gave families either $95 more a month for groceries or gave them the maximum amount they could receive based on their household size. Right now, a two-person household, like Greenville resident Lisa Marie Waller is eligible to receive $516 dollars a month for groceries. Starting February 1, that decreases to $250.

    "It really scares me," she said. "It scares me about... how am I going to support her and me and us living like we're doing? It's going to hurt. It's going to hurt really bad. Because we really rely on it."

    Waller and her daughter have been homeless for a little less than a year. When these changes go through, she'll have to decide between buying blankets and buying food in the dead of winter.

    Harvest Hope has watched this problem grow since the end of certain pandemic emergency programs, like loosened restrictions on unemployment and free and reduced lunch. Scott said they're preparing for a nearly 30 percent increase in need starting February.

    "All of those things have taken a toll, and we are now seeing numbers that are well above what we saw during the height of the pandemic because of the end of all the subsidies that were out there," he said.

    Seventeen states have already ended their supplementary SNAP benefit funding. While South Carolina is ending its in February, the remaining 32 will end theirs in March.

    https://www.wyff4.com/article/south-...ruary/42558113

  12. #12
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    Is this the correction phase from what COVID did to our economy?

  13. #13
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    Quote Originally Posted by JABIII View Post
    "It's going to hurt.": 300,000 South Carolinians prepare for major cuts in SNAP benefits February

    Starting Feb. 1, nearly 300,000 South Carolinians who rely on SNAP benefits will face more challenges feeding themselves and their families.

    Jan 18, 2023

    Starting Feb. 1, nearly 300,000 South Carolinians who rely on SNAP benefits will face more challenges feeding themselves and their families.

    Chad Scott with Harvest Hope Food Bank explained the benefits work a lot like food stamps and were bolstered by emergency funding during the pandemic.

    "SNAP benefits have been maximized by the federal government since COVID started," he said. "At the end of this month will be the first time when they're back on income contingent. So, we expect that number of what we see in our lines every week to increase exponentially."

    According to the USDA, that emergency funding gave families either $95 more a month for groceries or gave them the maximum amount they could receive based on their household size. Right now, a two-person household, like Greenville resident Lisa Marie Waller is eligible to receive $516 dollars a month for groceries. Starting February 1, that decreases to $250.

    "It really scares me," she said. "It scares me about... how am I going to support her and me and us living like we're doing? It's going to hurt. It's going to hurt really bad. Because we really rely on it."

    Waller and her daughter have been homeless for a little less than a year. When these changes go through, she'll have to decide between buying blankets and buying food in the dead of winter.

    Harvest Hope has watched this problem grow since the end of certain pandemic emergency programs, like loosened restrictions on unemployment and free and reduced lunch. Scott said they're preparing for a nearly 30 percent increase in need starting February.

    "All of those things have taken a toll, and we are now seeing numbers that are well above what we saw during the height of the pandemic because of the end of all the subsidies that were out there," he said.

    Seventeen states have already ended their supplementary SNAP benefit funding. While South Carolina is ending its in February, the remaining 32 will end theirs in March.

    https://www.wyff4.com/article/south-...ruary/42558113
    So these folks will be back to eating like me and my family? Terrible…….

  14. #14
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    Crab leg sales could take a hit, but probably not. Biden will just increase pay-ments on the Fed side...

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    Every business that I ride past has a now hiring sign in the window. If your not working it's because you don't want to.

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    They say construction has slowed, I still can’t find decent laborers, much less skilled workers.
    Yeah, but do you consider a dog to be a filthy animal? I wouldn't go so far as to call a dog filthy but they're definitely dirty. But, a dog's got personality. Personality goes a long way.


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  17. #17
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    Quote Originally Posted by Saltydog235 View Post
    They say construction has slowed, I still can’t find decent laborers, much less skilled workers.
    New construction has increased by a factor of 5 around here...

  18. #18
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    Quote Originally Posted by Whackumstackum View Post
    So these folks will be back to eating like me and my family? Terrible…….
    agreed

    I did pass by the food bank of shop road this am. Line was longer than I remember seeing in a long time. Some nice ass cars in line waiting for their handouts.
    A Nation of Sheep Breeds a Government of Wolves!

  19. #19
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    Lay off another 10,000 seems to be the daily trend in tech.

  20. #20
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    Quote Originally Posted by GBelly View Post
    agreed

    I did pass by the food bank of shop road this am. Line was longer than I remember seeing in a long time. Some nice ass cars in line waiting for their handouts.
    Yeah that joint is a scam. Ned turned me on to that bullshit 15 years ago...

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