Your Qna     New Questions     About Qna
EQNA is a growing interactive people-knowledge network with more than 120,000 questions and 450,000 answers from over 55,000 members worldwide. With all friendly functions, EQNA will be a fun place to join, share and discover knowledge, an open net space allowing you to connect with other people having specialized knowledge or ones with same interests to yours. EQNA login features secured logins using Twitter and Facebook enable you to place questions without sharing your personal information to us. Lets get out and join our community today!
Ask a Question
.

The morning news, black friday a success! 7%increase from last year!! Market down by 7.5%??

bright plummy tones telling us, as a news broadcast, what a great day it was....lies, liars and the rotten people that tell them!anybody getting tired of being wipe-sawed by the market?the question is; what is left to be believed? are there any sources that tell the truth anymore?the 'news' was/is purposely misleading. to be 'successful' sales would have to been at least 20% higher than last year. last years holiday sales slump laid the final groundwork for this years dismal performance., this years will be the death knell, but our tv tells us how great it is....if you were visiting in another country and witnessed this type of tv coverage, what would you think of that country? what would you think of the news broadcasts? might you see reason to doubt anything that was broadcast?a true stat about thanksgiving after day sales is the fast food outlet sales for that day....
Whipsaw:

News outlets are just trying to do their part in shoring up collapsing consumer confidence. Whipsawing markets are signs of failing bailouts and day traders pumping some nickels from the death throes of the economy. Black Friday and the holiday sales numbers are the last hurrah for those who still have money in their pockets. There are serious clouds on the horizon, and all of us are hoping they go away. Putting on a happy face and denying possible failure may be the best strategy available.

.:

my point, what purpose does misleading people do? get them even more in debt? if the idea is to mitigate a panic, just whose responsibility is it? shouldn't people have the honest scoop so to be able to make informed decisions?
more of a philosophical question i suppose..

Whipsaw:

I don't think they are encouraging new debt, credit is getting tight and expensive for most people. I think they are just trying to get people to spend money. Fear is contributing to recession, money is freezing up on supply and demand sides. Lies and optimism are just hopes for restarting the cash flow, though I don't think it will work. The strategy makes sense, but doesn't address underlying problems.

.:

good to see you, we've talked about this before...
money is freezing because the banks have taken 700billion, lets just call it right, more than 1.5trillion, and hoarded it. covering loan exposure, OK, using it to buy other banks?...so a vast amount of money is out of circulation.beware those that would state that decreased spending is the root cause, better to see for yourself where the cart and the horse are... look at 1931, but better yet, look up 1873(?) http://www.viewfromsiliconvalley.com/id452.html and please note what happened to shipping, letters of credit are no longer forthcoming as a matter of course for shipping now, watch for imported dry goods to disappear first.(by march)and don't forget the source, i'm batting 100%
stopping a panic, sure. blinding people to the problem, NOT!
perhaps the strategy makes sense for the short term, but does it make the situation worse for the long run? and if so, who gave anybody permission to lie to me about my future?is that criminal?

Whipsaw:

I am off to work for a bit but will do the reading you recommend when I get done. I agree, lying to prevent panic is a short term fix at best, and probably just makes things worse in this case. I note that they cannot lie effectively to you, and I think most people, even without examining the economy closely are not swallowing the pretty lies. If nothing else a quick glance at the "Help Wanted" pages in most newspapers should scare folks right now. Everyone I know is battening down the hatches in preparation for a storm. Criminal or not, the lies aren't working.

Whipsaw:

That article is scary. The parallels are obvious. I am going into 2009 with no business debt and fair reserves, but like many medium businesses, I am dependent on the health of large corporations, and a situation like 1873 will wipe me out in a year or two. I have made sure I won't have to borrow any time soon, but without clients, and income, it won't matter if I can get credit or not. I see your point though, in a situation like that people would be better off saving their money, spending is not going to fix the economy. The media's lies could be quite damaging to individuals.

Literally Speaking ™:

All I know is what I saw as i passed several mall parking lots, people having to park in the grassy medians because all the lots were FULL, local police diverting traffic etc etc.......

.:

yeah, part of this q was a follow up to the others about the death by crowds on that day.
if it was soo crowded, why were sales so small? 7% is a drop in the bucket.

the main point of this q is to bring focus on what will happen after xmas, the possible unemployment as more chains close, woolworths is only the start. expect pennys and even sears to go under. while the taxpayers monies go to bonuses and all that, the individual citizen is going bankrupt
what many dont see is the candle lit at both ends effect. at the same time that people lose jobs and need unemployment etc, is the same time that fewer people are paying the taxes that fund these safety nets.
burying our heads in the sand serves no purpose...

Ginger:

It depends on who you are listening to and how you interpret the numbers. Sales were up about 5% over last year. That is sales; not profits. Products were marked down much more this year than they were last year. Also, most of the sales were on the deep discounted products. People were buying what they went for and leaving. Very few shopped for other than the big bargains. Best sellers were electronics and children's clothing. Also, the outlook for the remaining Christmas shopping is quite grim.

Sonnamae:

Sorry, your answer and Ed's wasn't there when I started my answer. Guess we think alike.

.:

it's how i see it, and it seems that the street also agrees...
the fairest assessment is that most small businesses count holiday sales as 70% of their net. after last year how many will fail 2009?

Ginger:

Looks like big trouble for some big names. Macy's may not make it through the year. They had scheduled to close 10 stores. After this season, it will probably be more. Maybe something will happen between them ans Saks. The Sears and K-Mart stores also do not look too healthy. I'm sure the loss of many big paying jobs in New York's financial district is weighing heavily on Tiffany's.

The demise of Circuit City and Linen n Things should help keep Best Buy and Bed Bath and Beyond in business at least through 2009.

.:

@Ginger, home depot is ready to bite the dust, bad breath and beyond will suffer(imo)because their consumer base has the better financial advisors, and mortgages come first....i agree, macy's has been spending far too much on advertising....
only the companies with truly deep pockets will last? aint no money around to borrow, this bs of credit worthiness is a smokescreen to create a financial panic. the vultures are not circling anymore, they are landing in anticipation of a gorging...
the largest monitory land grab in history is happening right now, to be closely followed by the biggest consolidation of businesses in history.
as he chinese say "may you live in interesting times"not meant as a blessing........

buy physical copper....take delivery, no one is going to swipe a block of it from the back of the garage,...
I'm not kidding, no matter what, electricity, electric motors, games even plumbing will continue to create demand.more basic than silver or gold....
thanks....

Sonnamae:

I think it could be a refection that people will only shop on the days with deep discounts. We have to wait till the end of the year for a true figure. Also HOW can retailers operate a business on 50% to 70% off?

.:

yeah, and saw your other comment. your question here goes to the heart of the problem, i feel that everyone should understand how serious this is, and that the news should have trustworthy, beneficial advice. the economy is the largest in the world, productivity has never, ever been better.
given honest direction the citizens could easily pull it up, despite less money, that same money, applied correctly would save every job in the country. it is all a matter of direction, and that is where my indignation lies...

paying millionaires even more definitely sends the wrong message...

Sonnamae:

I understand you completely.

Ed:

Keep in mind that the "real" economy is different than the wall st. economy. They are only loosly coupled. Wall st. tends to be the more volitile of the 2. It's not a matter of lying...it's just basic economics 101.

Whipsaw:

Wall Street plummets, a major corporation sees its stock tank, the loss of capital causes them to close a plant, and over 1000 people are laid off in a community of only a few thousand. This is my town, last month. I think Wall Street owns the economy in some cases.

.:

@Ed. yes, and the market is more unstable than i, or my mentors have ever seen it...
to disregard the real connection is a mistake, it all lies in how the info is worded. wall street certainly understands what those sales stats mean....

SovieTAviator:

I don't shop on that day too many amatuers.We better start trying to save or we will all be going to hell in a hand basket............

.:

save your money outside of stocks, and outside of treasuries
it gets difficult, but money in the bank actually loses value. the choice is how much risk anyone wants take.
buy copper, at least your money will break even...
of course i cant offer any back up, i'm just as bad as any late night infomercial....but my record is right here, for anyone to see, batting 100% for as year now......

Answer:
Text ColorBackground Color
BoldItalicUnderline
LeftCenterRightJustify
Ordered ListBulleted List
IndentOutdent
Horizontal Rule
SubscriptSuperscript
HyperlinkImage
Design ModeDesign
Html ModeHtml
 

Top Question And Answer

  • I told my employees this morning that we were converting to a 501 c3 nonprofit company. There is
  • I'm converting my co. to a 501 c3 nonprofit. I told my employees this morning. Why is it that they
  • Good morning Yall today is the first of my 7 day's off work, how long before they try to call me in?
  • Is my website alright? I just made it 2 days ago in the morning (30 mins)
  • Morning gang, yawn am working night shift last night, night shift tonight and open in morning?
  • i met a boy on Friday and we are gong out! we started slow-dancing about 1 hr. is that to soon?
  • On a Friday afternoon near the end of the business day, what should I be doing?
  • Advanced 5 workers a weeks pay friday so that they could buy kids school stuff. Today all didn't
  • Is there anyone from the Dominican Republic on line? My boss went Friday.Hurricane .How bad?
  • bye will you miss me??? tommorow will be a 12 hour class :( tommorow is friday :) i had a free time.
  • Do you think the Google Phone will be a success? Free...hmmm
  • Do you measure YOUR success... on your own terms...or do you measure it by the opinions of others?
  • What is your definition of success in regards to a career?
  • What is a success story? examples?
  • Who is the psychic/card reader that guided George Strait to his career success?
  • is a place of employment required to give a cost of living increase
  • Why hasn't America returned to the 55 MPH law of the 70's to help increase fuel supply?
  • MINIMUM WAGE WOULD BE CONSIDERED A TAX INCREASE, RIGHT?
  • What five Presidential terms since WWII saw an increase in the percentage of national debt to GDP?
  • does having a democratic president increase construstion jos causing a domino in effect in spending?
  • Is Free Market a fairytale?
  • What is your best good get at a flea market or second hand store?
  • What is the best Industrial/commercial embroidery machine on the market?
  • Do you own any stocks on the market? Please tell how they are doing. I own stock in Coke.
  • how large is the Q&A service market?
  • I want to buy a bag,what is the baghttp:www.goyardreplicasale.com/Grade-Quality-Goyard-Saigon-Tote-Bag-PM-8941-Black/196/index.html
  • How is it:www.topreplicagears.com
  • Www.mokahandbags .com
  • Facebook new account opening form
  • Hom bhr0165301533Www.facebook.new account
  • Hom bhr0165301533
  • Hom bhr0165301533Www.facebook.new account
  • Hom bhr0165301533
  • how do I get mms message fro. mmsweb.iwireless.com
  • Find out how many cars of my model are registered
  • What would happen if a letter opens in the mail
  • Facebook new account open
  • Facebook New Account Creation
  • Facebook new account creation
  • locating a business that closed