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 Post subject: Re: US. down down down
PostPosted: Mon May 26, 2014 5:34 am 
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Retail Death Rattle Grows Louder - -> http://www.safehaven.com/article/33929/ ... ows-louder

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Retail store results for the 1st quarter of 2014 have been rolling in over the last week. It seems the hideous government reported retail sales results over the last six months are being confirmed by the dying bricks and mortar mega-chains. In case you missed the corporate mainstream media not reporting the facts and doing their usual positive spin, here are the absolutely dreadful headlines:

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%

Target Profit Plunges by $80 Million, 16% Lower Than 2013, as Store Traffic Declines by 2.3%

Sears Loses $358 Million in First Quarter as Comparable Store Sales at Sears Plunge by 7.8% and Sales at Kmart Plunge by 5.1%

JC Penney Thrilled With Loss of Only $358 Million For the Quarter

Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%

Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%

Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores

Gap Income Drops 22% as Same Store Sales Fall

American Eagle Profits Tumble 86%, Will Close 150 Stores

Aeropostale Losses $77 Million as Sales Collapse by 12%

Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%

Macy’s Profit Flat as Comparable Store Sales decline by 1.4%

Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%

Urban Outfitters Earnings Collapse by 20% as Sales Stagnate

McDonalds Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%

Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster

TJX Misses Earnings Expectations as Sales & Earnings Flat

Dick’s Misses Earnings Expectations as Golf Store Sales Plummet

Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%

Lowes Misses Earnings Expectations as Customer Traffic was Flat

there is more


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 Post subject: Re: US. down down down
PostPosted: Tue Aug 12, 2014 7:17 pm 
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FNC: Residential Property Values increased 8.4% year-over-year in April -> http://www.calculatedriskblog.com/2014/ ... PBjxkri.99


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 Post subject: Re: US. down down down
PostPosted: Wed Sep 10, 2014 7:17 pm 
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Chinese government policy change kills Coastal California housing market - -> http://ochousingnews.com/blog/chinese-g ... ng-market/

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The people who deny a real estate bubble in China are wrong, and the deflating Chinese property bubble could destabilize the world economy, but of greater interest to owners of Coastal California real estate, the deflating Chinese housing bubble could turn local real estate buyers into desperate sellers.

Both homebuilders and real estate agents delude themselves with notions about the desirability of Coastal California to convince themselves the influx of Chinese money is based on sustainable fundamental factors. In reality, this is hot money escaping a collapsing market, subject to the policy whims of an unpredictable totalitarian government. Chinese capital is an unstable source of investment, and it could reverse course in a moment based on policy changes in China.

there is more


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 12:40 am 
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Location: California
Subprime - I'm back!

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http://dealbook.nytimes.com/2014/09/24/ ... blogs&_r=0
Quote:
Mr. Vead can monitor the movements of about 880 subprime borrowers on a computerized map that shows the location of their cars with a red marker. Mr. Vead can spot drivers who have fallen behind on their payments and remotely disable their vehicles on his computer or mobile phone.

The devices are reshaping how people like Mr. Vead collect on debts. He can quickly locate the collateral without relying on a repo man to hunt down delinquent borrowers.

Gone are the days when Mr. Vead, a debt collector for nearly 20 years, had to hire someone to scour neighborhoods for cars belonging to delinquent borrowers. Sometimes locating one could take years. Now, within minutes of a car’s ignition being disabled, Mr. Vead said, the borrower calls him offering to pay.

“It gets their attention,” he said.

Mr. Vead, who has a coffee cup that reads “The GPS Man,” has been encouraging other credit unions to use the technology. And the devices — one version was first used to help pet owners keep track of their animals — are catching on with a range of subprime auto lenders, including companies backed by private equity firms and credit unions.
Using his computer or cellphone, Mr. Vead can monitor the movements of about 880 subprime borrowers, and if they are late in making a payment, he can disable their vehicles.

Mr. Vead says that first, he tries reaching a delinquent borrower on the phone or in person. Then, only after at least 30 days of missed payments, he typically shuts down cars when they are parked at the borrower’s house or workplace. If there is an emergency, he says, he will turn a car back on.

None of the borrowers or consumer lawyers interviewed by The New York Times raised concerns about the way Mr. Vead’s credit union uses the devices. But other lenders, they said, were not as considerate, marooning drivers in far-flung places and often giving no advance notice of a shut-off. Lenders say that they exercise caution when disabling vehicles and that the devices enable them to extend more credit.

Without the use of such devices, said John Pena, general manager of C.A.G. Acceptance, “we would be unable to extend loans because of the high-risk nature of the loans.”


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 1:03 am 
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Profits = Investment – Household Savings – Government Savings – Foreign Savings + Dividends

(i.e. company profits are directly fed, in part, by government deficits)

BANKS DON'T LEND RESERVES
As confirmed by the Bank of England


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 1:37 am 
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Revolutions were started on less.


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 5:13 am 
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ditch dweller wrote:
Subprime - I'm back!

..and predictably you brought along your old friend securitisation!

http://ftalphaville.ft.com/2014/09/25/1 ... lism-gold/

What could possibly go wrong?

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"It's easy to confuse what is with what ought to be, especially when what is has worked out in your favour"
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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 7:38 am 
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Daniel Plainview wrote:
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A (real-life) plutocrat talks ...



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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 7:52 am 
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Posts: 377
Fallout in Callifornia thousands of times worse than thought from Fukushima, Government expert. From: enenews.com. That is what is effecting west coast real estate and the mass exit of the Stars.


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 8:39 am 
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Daniel Plainview wrote:
Image


Is this graph not a bit misleading, as it leaves out time periods when assets prices collapse.


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 7:17 pm 
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Location: California
maryocarol wrote:
That is what is effecting west coast real estate and the mass exit of the Stars.


if only


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 7:40 pm 
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Posts: 4752
bml wrote:
Is this graph not a bit misleading, as it leaves out time periods when assets prices collapse.

The clue is in the title "...during expansions".

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"It's easy to confuse what is with what ought to be, especially when what is has worked out in your favour"
Tyrion Lannister


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 Post subject: Re: US. down down down
PostPosted: Fri Sep 26, 2014 8:01 pm 
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Joined: Sep 13, 2007
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Eschatologist wrote:
bml wrote:
Is this graph not a bit misleading, as it leaves out time periods when assets prices collapse.

The clue is in the title "...during expansions".

Except some of the expansion of the top 10% is a recovery of their losses when asset prices collapse (as they're the asset rich).

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"It is impossible to design a system so perfect that no one needs to be good."

So long and thanks for all the fish.


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 Post subject: Re: US. down down down
PostPosted: Fri Nov 07, 2014 10:03 am 
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Location: California
http://thinkprogress.org/economy/2014/1 ... stigation/
Quote:
As Uber has surged in popularity — expanding operations in the U.S. and abroad, and recently hiring 50,000 military veterans as drivers — backlash against the taxi-alternative service has grown. Now the company is adding a federal investigation for sketchy lending practices on its pile of recent controversies.

First reported by Gawker’s ValleyWag, the U.S. Department of Justice (DOJ) is investigating Uber’s auto-loan program, which sets up drivers to borrow money they might not be able to pay back.
The company’s promotional video advertises its lending program, telling prospective drivers “even if you have bad credit or no credit at all, we can help you get behind the wheel in a week.”

While Uber doesn’t directly lend drivers money, the company links drivers with lenders including General Motors and Santander USA. Those lenders then lock drivers into subprime loans to be repaid through paycheck deductions. Subprime loans are high-risk loans with steep repayment terms — and were the chief cause of the 2008 financial crisis.


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 Post subject: Re: US. down down down
PostPosted: Fri Nov 07, 2014 1:07 pm 
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Understanding and Overcoming America's Plutocracy


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Pity the American people for imagining that they have just elected the new Congress. In a formal way, they of course have. The public did vote. But in a substantive way, it's not true that they have chosen their government.

This was the billionaires' election, billionaires of both parties. And while the Republican and Democratic Party billionaires have some differences, what unites them is much stronger than what divides them, a few exceptions aside. Indeed, many of the richest individual and corporate donors give to both parties. The much-discussed left-right polarization is not polarization at all. The political system is actually relatively united and working very effectively for the richest of the rich.

There has never been a better time for the top 1%. The stock market is soaring, profits are high, interest rates are near zero, and taxes are low. The main countervailing forces -- unions, antitrust authorities, and financial regulators -- have been clobbered.

Think of it this way. If government were turned over to the CEOs of ExxonMobil, Goldman Sachs, Bechtel, and Health Corporation of America, they would have very little to change of current policies, which already cater to the four mega-lobbies: Big Oil, Wall Street, defense contractors, and medical care giants. This week's election swing to the Republicans will likely give these lobbies the few added perks that they seek: lower corporate and personal tax rates, stronger management powers vis-à-vis labor, and even weaker environmental and financial regulation.


http://www.huffingtonpost.com/jeffrey-s ... 13618.html

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A housing boom is the economic equivalent of a tapeworm infection Tim Harford

"Those who yearn for the end of capitalism should pray for government by men who believe that all positive action is inimical to what they call thoughtfully the fundamental principles of free enterprise." - JK Galbraith


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