Consumer Spending Surges in November - Page 7 - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #61 of 173 (permalink) Old 12-23-2007, 09:50 PM
~BANNED~
 
Jakarta Expat's Avatar
 
Date registered: Aug 2006
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
Posts: 17,697
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Botnst View Post
Heck no. It makes blind decisions based on the sum of self-interest of investors and owners.

Now please provide an example of a government bureaucracy that has made wise, long-term financial decisions.

B

Well exactly so how do you justify saying in your post above (in reply to Bear) that you expeced the market to sort it out, those pricks are only going to do what what you say above. Is this your way of coming up for a solution to help the american public and the crisis that the US is facing now, it would be nice to see a long term solution rather all of these short terms and fix things that will last a few decades rather than years.
Jakarta Expat is offline  
Sponsored Links
Advertisement
 
post #62 of 173 (permalink) Old 12-23-2007, 09:57 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Botnst View Post
Heck no. It makes blind decisions based on the sum of self-interest of investors and owners.

Now please provide an example of a government bureaucracy that has made wise, long-term financial decisions.

B
The VA loan program, Fannie Mae, Freddie Mac are three examples of programs that have been around [some for over 50 years]. Only in the past 6 years has Fannie Mae and Freddie Mac started getting in a bit of trouble as they quit focusing on their charter and started trying to be quasi public market.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #63 of 173 (permalink) Old 12-23-2007, 10:02 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Digmenow View Post
Mr. bottomline is correct. Though we were instructed to push gift cards this month, the selling store gets no credit for the sale. If customers leave their dollars in my store, depart with a gift card carrying a full load, give that card to someone they feel is deserving and that someone shops in our location on the west side of the Beltway, it's the OTHER store that receives credit for the sale and turns the inventory.

Hopefully, someone from THAT side of town will do the same thing for someone on THIS side of town and it all comes out in the wash.
Is that a corp or a IRS accounting thing. I deal so little with retail that, as bottomline said, I know more about Govn accounting [and I try to stay away from that now].

I need to see where I read that article. Now I am perplexed. Thanks for clearing it up.

Just reread your post. OK, at the Store level it is counted at the store where cashed. Now, at Corporate, when are the dollars counted, when the card is purchased [and the VISA account is charged] or when the card is cashed [and merchandise is loaded]?

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #64 of 173 (permalink) Old 12-23-2007, 10:08 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Botnst View Post
Heck no. It makes blind decisions based on the sum of self-interest of investors and owners.B
But isn't that assuming actions and decisions in a vacuum. In the real international market there are government pulls and pushes on all sides from various countries. Everything from customs tariffs to dollar devaluations ot hedging of currencies [bolstered by the FED].

There are also laws and treaties [although we have been ignoring some of those lately] that also govern the actions of the investors and owners which would keep them from exercising their self interest.

In reality there is no such thing as a free market economy, short of the trading bazaar in Ankara [and you don't want to get caught up in that too often].

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #65 of 173 (permalink) Old 12-23-2007, 10:12 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
Dang, I read something just a week or so ago on the subject and they were talking about posting up to AR as soon as the money hits the store. It might depend on retailer or type of card/merchandise. I know some stores don't get the cards turned in for merchandise [or only a percentage of the value] yet the comment was the store got full value up front.

Gerkibi Help, you would know this one.
I know for a fact that is not true. And it is particularly problematic this year since apparently around 50% of all gifts are those damn cards. So any early January spending #'s you see will not include the gift cards and that will be a big chunk of the total... I believe it will be February before they mean anything.

Don't believe everything you think
Jayhawk is offline  
post #66 of 173 (permalink) Old 12-23-2007, 10:18 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
But if the market slams the entire economy, and takes out several sectors with it [in this case destabilizing the International Derivatives and Hedge fund market] then the ripple tanks 401Ks, Teacher Retirement Funds, Institutional Investment funds, University Pension Funds, and just about every investment instrument on the planet.

It doesn't just smack the guys that made the piss poor decisions.
The free market should, and will, rule. If the little guy gets hurt, so be it. I don't like it, but if we are going to have an honest free market, government needs to stay the hell out of it. The alternative is too scary for me to contemplate.

Don't believe everything you think
Jayhawk is offline  
post #67 of 173 (permalink) Old 12-23-2007, 10:18 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jakarta Expat View Post
I understand I have been in a different situation but every year for 25 years of working offshore I put away 60 t0 70% of my salary away in long term investments or banking it. Now if most of the American public had just put away a fraction of what they had made there would be no crisis no, sorry gentlemen but it will soon be time to pay the piper.
Entirely too many people don't have nearly enough to last a year, much less prepare for retirement. It is a very scary proposition that we have $15 Trillion in Consumer debt [not including mortgage or auto] and many don't have savings or health insurance.

Bot is right the very best and brightest sell the value of credit cards and merchandising and the very coolest of toys. Yet nobody is telling folks that maybe it is not a good idea to just charge away. Look at the media. They jump up and down at the great spending levels for Christmas. Slow is BAD, HIGH is GREAT!!!!. Yet most of that spending is via Credit. If it were cash spending I would be dressed as a cheerleader cheering it on but it is not. It is like cheering the Titanic for its great speed as it is heading toward an iceberg. Yeah for the speed, not so yeah for where it is going.

I think this next year is going to be a watershed year for our economy. Something is going to have to bring things to a more stable foundation as we cannot continue to have personal debt, mortgage debt, tax debt [that National Debt thingie] and the looming changes the baby boomers are going to do to the flow of monies into the national coffers. Folks have been sticking their heads in the sand for the past decade just hoping they get out of office before the real shit hits. Bush didn't quite make it.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #68 of 173 (permalink) Old 12-23-2007, 10:25 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
Is that a corp or a IRS accounting thing. I deal so little with retail that, as bottomline said, I know more about Govn accounting [and I try to stay away from that now].

I need to see where I read that article. Now I am perplexed. Thanks for clearing it up.

Just reread your post. OK, at the Store level it is counted at the store where cashed. Now, at Corporate, when are the dollars counted, when the card is purchased [and the VISA account is charged] or when the card is cashed [and merchandise is loaded]?
The latter...

Don't believe everything you think
Jayhawk is offline  
post #69 of 173 (permalink) Old 12-23-2007, 10:26 PM
BenzWorld Elite
 
Date registered: Sep 2004
Vehicle: 95 E300
Location: Inside my head
Posts: 36,850
Mentioned: 0 Post(s)
Quoted: 392 Post(s)
Quote:
Originally Posted by mcbear View Post
But isn't that assuming actions and decisions in a vacuum. In the real international market there are government pulls and pushes on all sides from various countries. Everything from customs tariffs to dollar devaluations ot hedging of currencies [bolstered by the FED].

There are also laws and treaties [although we have been ignoring some of those lately] that also govern the actions of the investors and owners which would keep them from exercising their self interest.

In reality there is no such thing as a free market economy, short of the trading bazaar in Ankara [and you don't want to get caught up in that too often].
Yes. Just as there is no such thing as freedom. I doubt you would argue since we haven't the perfect we should forget the pretty good and cease striving for better.

In the case of markets, we (the USA) should continue to seek expansion of free trade world-wide. Some markets will be with closed systems. So far, free markets have beaten closed markets in every instance in which they compete. Sometimes the collapse of the closed market is forestalled by treaty or gunpoint. But as the Chinese have obviously acknowledged, a free market will triumph at some point.

I doubt that a totally free market has existed aside from bartering systems on a small scale. Just as I doubt a pure democracy has ever existed other than in the most isolated of circumstances. Does that mean we should not pursue democracy? Of course not.

B

The biggest problems we are facing right now have to do with George Bush trying to bring more and more power into the executive branch and not go through Congress at all and that’s what I intend to reverse.

~ Senator Barack H. Obama
Botnst is offline  
post #70 of 173 (permalink) Old 12-23-2007, 10:26 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
I know for a fact that is not true. And it is particularly problematic this year since apparently around 50% of all gifts are those damn cards. So any early January spending #'s you see will not include the gift cards and that will be a big chunk of the total... I believe it will be February before they mean anything.
I read something but it might have been single company specific. I just don't remember. Somewhere I thought I read that Corporations took the charge when they got the monies. But I can see the other side of it also.

On the other hand, they at least KNOW how much they have in Gift Card sales so the point of how they did can still be answered whether they actually post the earnings January 1 or January 31.

Hopefully there will be a booming last minute kick. I was shocked at how easy I drove around both yesterday and today on the major mall areas. I got into the 1.5Million sqft mall area with no lines and parked right in front of the store I was going into this evening at 7. All the stores are open until 9 on Sunday which was a shock also.

I know online shopping has increased. I don't know what the UPS and FedEx guys are saying, they usually have a pretty good bead on what the online shopping trends are.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    engine surges danefx W140 S-Class 10 04-08-2011 02:20 PM
    Kickdown Causes Surges '91 300CE W124 E,CE,D,TD Class 6 11-05-2006 09:19 PM
    Am I spending too much $$$ for this service? FatTony W126 S,SE,SEC,SEL,SD,SDL Class 9 08-04-2005 03:58 PM
    MSN, Consumer Reports and Consumer Reviews malibuite R171 SLK-Class 0 06-01-2005 08:23 AM
    surges in idle Guest (MBNZ) R/C107 SL/SLC Class 1 06-27-2002 08:35 AM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome