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Fall In Christmas Shoppers Burdens The Consumer Spending Sectors
FYI: As Christmas shopping comes to an end, companies within the retail and consumer goods industries will be closing shop for the one day of the year. Following a large number of busy shopping sprees, the consumer discretionary and consumer staple sectors have predominantly successful Q4s in previous years. This year has not to been the case. Regards, Ted http://www.etfstream.com/news/5727_fall-in-christmas-shoppers-burdens-the-consumer-spending-sectors
Yep ... The FOMC killed my "want and desire" spending this year with their continued rate increase campaign which has dinged the stock market. I was thinking strongly of buying a new vehicle this year to repalce my 2006 Jeep Commander (which still runs great) with 212,000 miles on it. About 60% of these miles are road miles traveling form Charlotte to the Carolina coast frequently. After the market swoon and since it is not worth much as a trade-in but still is a solid, clean and good running, well maintained vehicle I decided to delay this purchase. Plus we have two other vehicles. Instead I have choosen to keep this cash ready to to be deployed back into the stock market (spiff position). This has lead me to believe that spending by others will probally be down as well.
I shopped more online this year because of the savings over retail store prices. In doing this I was able to put more spiff money in family members stockings.
So, I am not surprised to read that consumer spending is down.
And, the FOMC continues it's rate increase march under its head wizard Powell. It's my belief that both uncle Ben and Aunt Janet would have had a better handle on the effects rate increases on the economy especially with the trade tif we are currently in with China. Real estate sales are down, auto sales are down, and now general retail sales are down. I sure wish Janet was still around. From my perspective Powell needs to go. He can wordsmith all he wants; but, the results are not anything like of what he utters.
For me, and through the years, if the stock market does well ... I'll spend. And, if it is decline then so will my spending also be in decline.
Comments
I shopped more online this year because of the savings over retail store prices. In doing this I was able to put more spiff money in family members stockings.
So, I am not surprised to read that consumer spending is down.
And, the FOMC continues it's rate increase march under its head wizard Powell. It's my belief that both uncle Ben and Aunt Janet would have had a better handle on the effects rate increases on the economy especially with the trade tif we are currently in with China. Real estate sales are down, auto sales are down, and now general retail sales are down. I sure wish Janet was still around. From my perspective Powell needs to go. He can wordsmith all he wants; but, the results are not anything like of what he utters.
For me, and through the years, if the stock market does well ... I'll spend. And, if it is decline then so will my spending also be in decline.