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Thread: The coming economy

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    Default The coming economy

    http://www.upi.com/NewsTrack/Busines...ge_90_pct/4876


    It does not bode well.


    Forecast: U.S. dollar could plunge 90 pct


    Published: Nov. 19, 2007 at 2:16 PM
    RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

    "We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

    "The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal.

    Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse.

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    nice troll moron
    real economist say 1 to two percent growth so does the Fed.
    Your scary stupid but funny too. Thanks

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    thousands lined up at malls around the country yestardy and they will next year two. Incomes are way up every year.
    Educate yourself and just read the names and sales numbers of the top 500 companies and you won't need to troll for negative news.

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    Quote Originally Posted by Topspin View Post
    nice troll moron
    real economist say 1 to two percent growth so does the Fed.
    Your scary stupid but funny too. Thanks
    Hey what happened to that 3% growth you have been saying ?
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Retailers post robust start to holidays

    By ANNE D'INNOCENZIO, AP Business Writer 2 hours, 33 minutes ago

    NEW YORK - The nation's retailers had a robust start to the holiday shopping season, according to results announced Saturday by a national research group that tracks sales at retail outlets across the country.
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    According to ShopperTrak RCT Corp., which tracks sales at more than 50,000 retail outlets, total sales rose 8.3 percent to about $10.3 billion on Friday, the day after Thanksgiving, compared with $9.5 billion on the same day a year ago. ShopperTrak had expected an increase of no more than 4 percent to 5 percent.

    "This is a really strong number. ... You can't have a good season unless it starts well," said Bill Martin, co-founder of ShopperTrak, citing strength across all regions. "It's very encouraging. When you look at September and October, shoppers weren't in the stores."

    In a separate statement released Saturday, J.C. Penney Co. reported "strong performance across all merchandise categories," including fine jewelry, outerwear, and young men's and children's assortments.

    But the department store chain cautioned, "while we are encouraged by our strong start, it is still early in the holiday season, and we are mindful of the headwinds consumers are facing."

    J.C. Penney, Wal-Mart Stores Inc. and other major retailers are expected to report same-store results for November on Dec. 6. Same-store sales are those at stores opened at least a year and are considered a key indicator of a retailer's strength.

    The upbeat reports were encouraging since merchants have been struggling with anemic sales in recent months, as shoppers, particularly in the middle and lower-income brackets, were becoming more frugal amid higher gas and food prices and an escalating credit crunch.

    In an apparent sign of desperation, the nation's stores ushered in the official start of the holiday shopping season on Friday with expanded hours, including midnight openings, and a blitz of early morning specials that were more generous than a year ago. J.C. Penney and Kohl's Corp. opened at 4 a.m., an hour earlier than a year ago.

    The strategy appears to have worked, as shoppers jammed stores in record numbers for early morning deals on Friday. Martin noted that judging by the strong figures on Friday, stores were able to sustain strong sales throughout the day. He said he's counting on strong traffic throughout the weekend as many stores, including Macy's Inc., are continuing with special deals.

    While Black Friday so named because it was traditionally when the surge of shopping made stores profitable starts holiday shopping, it is not considered a bellwether for the season. However, merchants see Black Friday as setting an important tone to the overall season: What consumers see that day influences where they will shop for the rest of the year.

    Last year, retailers had a good start during the Thanksgiving weekend, but many stores struggled in December, and a shopping surge just before and after Christmas wasn't enough to make up for lost sales.

    This year, the Washington-based National Retail Federation predicted that total holiday sales would be up 4 percent for the combined November and December period, the slowest growth since a 1.3 percent rise in 2002. Holiday sales rose 4.6 percent in 2006 and growth has averaged 4.8 percent over the last decade.

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    This year, the Washington-based National Retail Federation predicted that total holiday sales would be up 4 percent for the combined November and December period, the slowest growth since a 1.3 percent rise in 2002.

    Yep something to be proud of.
    Last edited by uscitizen; 11-24-2007 at 05:55 PM.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    herein lies the plight of the ignorant like desh and USC trying to talk economics. 4.6 percent is quit good, what's not is both of your lack of any formal or nonformal education on the topic.

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    I enjoy laughing at a stupid housewife ignorantly trying to talk business.
    Trolling for years to find a negative article when the economy has grown quarter after quarter is ignorant at best.

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    The evidence shows that spinner is obviously proud of looking like an idiot.

    Just yesterday he talked of a 3+ % growth rate in the economy and now he speaks of 1% being good.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    usmoron GDP this year 3
    deshtard you are dumb as bricks
    for two years you two college haters have been predicting gloom and for two years you've been proven clueless.

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    It is coming soon stupit ass.

    Might have to delay your retirement a bit there spud.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    LOL
    keep saying its coming and every seven years you'll be right. One out of seven is about right for a high school grad on college material. LOL

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