Wednesday, October 15, 2008

Dumbass Wall St. Bastards

Stocks Sink on Retail Sales Drop- AP

Stocks are falling sharply in early trading after economic readings raised the possibility that the country is either in a recession or moving toward one. The government's report Wednesday that retail sales plunged in September by 1.2 percent is fanning concerns about consumers. The decline was steeper than expected and is worrisome because consumer spending accounts for about two-thirds of U.S. economic activity.

1) Did they really need a gov't agency to tell them that retail sales would drop?
2) It surprises them that it dropped as much as 1.2%?! I'd have thought it would have dropped a lot more.
3) "the possibility that the country is either in a recession or moving towards one?!"

This just illustrates what an isolated bubble these bubble heads operate within. Any working person in the USA could have told these dumb fucks all this shit a month ago. We didn't need the banks to collapse to know we were in trouble. We've watch regular commodity consumer goods become luxuries for many of us. We've seen our paychecks shrink at horrifying rates and the price of the things we HAVE to buy go through the roof.
Many of us who never used to pay a whole lot of attention to prices at the grocery store are now very careful shoppers. Same goes with where and how we buy our gasoline. I know every place where I can get gasoline discounts with my two different grocery discount cards. I used to not think twice about hopping in the car and heading down to the capital city for a good coffee, a pastry and a little music, now I just don't make the 45 minute drive unless I can combine a few other tasks.
I don't need no fucking gov't agency to tell me how fucked up this economy is. Having them tell me that consumer spending is down 1.2 percent in Sept. just tells me one thing. . . they're padding the numbers. I know how drastically my spending has changed and I'm not living paycheck-to-paycheck. These fuckers are afraid to say how bad it really is.
Meanwhile, the Wall St. investors are shocked at such number. . . "OH MY! Who wouldda thought?!!" and the corporate royalist continue to give us a good fucking by spending our tax dollars on vacations, more buy-outs and retirement packages.
Go back to your Long Island compounds or your Park Ave apartments and contemplate that for a while you bunch of ignorant morons.
I gotta go feed my farm animals who are spending much more time foraging in the fields than they used to because the price of feed has doubled in the past year.


Hawa Bond said...

I agree that there's no frickin way that retail spending only dropped 1.2%. I wonder what fuzzy math was employed to arrive at that understatement. Perhaps retailers padding the numbers so stock value doesn't nosedive?

One thing is for sure... more Americans seem engaged in the entire political process and economic concerns. Too bad that's only important after the government and corporations are ignored long enough to wreck the economy for the rest of us.

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themom said...

I have new patterns also. I won't even start the car unless it is to accomplish more than one task. Getting the kids to turn lights off is a real chore, but major cutbacks are needed in this house. My lowly little pension does not go far at all.

rainywalker said...

Your right about it all, our utilities the first of the month here in Colorado Springs will be going up 23% [gas, electric and water]. Might as well move out to one of the ghost towns burn wood, use a coal oil lamp and use a bucket for water.

Traci Dolan said...

Yeah, that's a load of shit. I know my habits starting changing before the market tanked because of a drop-off in business. It hasn't rebounded much. Instead of hosting big dinners, the pharmaceuticals are now hosting big lunches... a loss of about $780 - $1600 a week in revenue.

Yep. Don't need to tell me things are bad.