Retail Spending Not On The Rise: But Historic Fall

Shopping on Historic Decline.

Retail spending is not showing a good sign of recovering  this is no surprise with the coronavirus rates still surging and past restrictions on outings to restaurants and stores are being brought back in some places once again.  The new stats as seen in a new npr report http://org/sections/coronavirus-live-updates/2020/12/16/946783072/shoppers-stayed-away-from-stores-and-restaurants-sending-sales-lower. Shows spending has did the opposite and plummeted this has not been seen since the plunge back in April.

The Commerce Department also revised October’s data to show a decline of 0.1% instead of an increase of 0.3%.

For November, here’s where the data showed people spending, compared with a month earlier:

• Grocery stores: +1.9%
• Home improvement and gardening stores: +1.1%
• Online retailers: +0.2%
• Sports, music and other hobby stores: -0.6%
• Big-box stores: -1%
• Furniture stores: -1.1%
• Electronics stores: -3.5%
• Restaurants and bars: -4%
• Clothing and accessories stores: -6.8%
• Department stores: -7.7%

You can see the full report on: org/sections/coronavirus-live-updates/2020/12/16/946783072/shoppers-stayed-away-from-stores-and-restaurants-sending-sales-lower

Let’s hope with the new vaccines are available to all U.S citizens. We will then see confidence in shoppers returning and numbers will start to climb. Now the only thing is waiting, let’s hope for soon.

Student Loans Moving To Government?

Sallie Mae One Of The Top Lenders Of Student Loans.

It depends on which side your own to decide if this could be a good thing or bad.  A student loan bill  is possibly being passed by Congress.  While private Lenders like Sallie Mae and Large Financial Institutions:  JPMorgan Chase, Bank of America and Citigroup combined could lose up to $70 billion-a-year  in fees from student loans. 

The new student loan bill would no longer pay fees to financial institutions who act as go betweens .   Instead the fees could be pumped into larger Pell grants for low to middle income students.  Which just might save on the need for further student loans.

Private lenders are fighting  against the student loan bill, their fight is that  it would cost thousands of jobs and be put into the hands of the government unnecessarily

On the other hand  a quote for Msnbc:

 ” The bill would see $61 billion in savings over 10 years from the switch to direct government lending. It would pay for Pell Grants and provide more than $4 billion to community colleges and historically black colleges. It also would direct about $19 billion to reducing the deficit and offsetting expenses in the health care legislation.”

Also the new student loan bill would no longer take the 15 percent of a graduates monthly income.  The new rate would be lowered 5 percent.  Graduates would not be required to pay more than 10 percent of their monthly income when repaying student loans.

Is It Really The End For Retail Giant “Sears”?

Jeff Matthews

 

 

 

 

 

Jeff Matthews of hedge fund RAM Partners seems to think the end is Near for Retail Giant Sears.   He’s says he’s not happy with the way the stores are looking  ( I kinda agree with him there, I grew up going to sears with my family. I remember how bright and cherry and clean. Not to mention that wonderful roasted peanut smell and my Dad stopping to get us a bag of those delicious peanuts:)

Matthews said they don’t look any better than they did five years ago. He gave an example of what might be the problem he says Wal-mart spends tens of Billions compared to Sears  200 million thats spent on their stores.

Matthews believes that  Sears Holding Corp Chairman Edward Lampert hedge and fund impresario doesn’t know what he’s doing when it comes to running a retail business.  He points out that that after Lampert bought the company and merged it with Kmart five years ago there have been no improvement in sales. Yahoo video: http://doiop.com/JeffMatthewstolateforSears

A Barron’s report 

Sears Holdings Corp (NASDAQ: SHLD – news) shares could fall 50 percent after extreme cost-cutting depleted the retailer’s ability to generate cash flow necessary to win back market share from Wal-Mart Stores Inc and other rivals, Barron’s said in its Aug 24 edition.”

Full Report:http://doiop.com/barronsreportonSears

I personally hope that there’s still hope for Sears even though. I don’t shop there as much as I use too.  I do remember when Sears did a make over around late 80’s early 90’s. I really liked their stylish clothes at that time.  (for awhile they only seem to cater to my moms style lol). 

I guess It’s more of a personal traditional thing for me. Sears ending would seem like another part of my past childhood vanishing.  It would be nice to experience that family friendly feel it once had and maybe even get a whiff of roasted peanuts once again.

Super Size Garage Sale:CA State Garage Sale

Used Blackberry $20, laptop $200, government Vehicles, that’s right Gov. Arnold Schwarzenegger has declared the”Great California Garage Sale” he is hoping that the government clutter will become cash that can help with the states finances.

He’s also hoping that his promos (even on Twitter) will get many out to the two day sale and purchase the 600 state-owned vehicles and thousands of pieces of office furniture, computers, electronics, jewelry, pianos, toan Xbox 360 gaming system. If it turns out the way Gov. Schwarzenegger plans thinks he just might reach hundreds of thousands of dollars in sales. http://tech.yahoo.com/news/ap/20090828/ap_on_hi_te/us_california_garage_sale

Gov. Schwarzenegger took suggestions that’s why he even autographed 15 car visors for sale. The idea for a garage sale came from state employees and was put into motion by Schwarzenegger through an executive order earlier this year. At the time, the state was struggling with a projected $26 billion deficit. http://www.time.com/time/nation/article/0,8599,1919309,00.html

Bargain shopers were allowed to get an early peak  Thursday at some of the deals at the huge warehouse like sale.  The Kinston free press referred to it as a ” Costco-like warehouse”  http://hosted.ap.org/dynamic/stories/U/US_CALIFORNIA_GARAGE_SALE?SITE=NCKIN&SECTION=HOME&TEMPLATE=DEFAULT

Some came as Early as 5am Friday. Door weren’t open until 8am.  Inside people were shopping for computers to camera’s. If you want to be a part of it the sale will end Saturday at 12pm.  First come first serve.

So That’s What The Symbols On The Dollar Bill Stand For

 

 

 

 

 

 

 

If you’ve every wondered what all of those symbols on the dollar bill mean or where actually used for.  I ran across a very interesting blog.  I have heard so many different versions of why the dollar bill looks the way it does, but this amazing blog really dug into the meaning of the many symbols: http://blogs.static.mentalfloss.com/blogs/archives/32057.html

for U.S state department facts: http://www.state.gov/