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Sorry but I'm simply astonished at how cheap everything is. The rest
of the US pumps its gas for 90c-$1.30/gal. We were all incredulous
the other day that our favorite PapaJohn's pizza is offering 2 large
pizzas for $12.99. I used to pay $15 for one large pizza at
RoundTable 20 years ago. My wife is going crazy buying clothes
because they are giving'em away. Everyone in my neighborhood bought
brand new Mercedes from their 5% cashout refis. Mortgage rates are
down making everything more affordable, tax rates are going down
making everything more affordable, airfares appear half price from a
few months back, zero interest rates and deferred payments on
everything from cars to computers to furtniture, soon everything will
be free.
--- In realtraders@xxxx, Ira Tunik <irat@xxxx> wrote:
> In the bay area a lot of high priced people have been laid off.
500 from
> Medtronics, several hundred from Agilent, and many of the telecom
companies
> have folded their tents. Some of the big telecom companies have
laid off
> hundreds. Those $700,000 to million dollar homes that where going
like hot
> cakes last year might just come back on the market. Even the wine
industry
> which is big in Sonoma and Napa counties is taking a hit with
layoffs. Yet
> the owners of retail space keep raising the rents, Apartment houses
have a 2%
> vacancy factor and their rents keep climbing. Everyone says that
we are in a
> deflationary spiral and prices are coming down. Air fares are
supposed to be
> a bargain. forget it. Checked on flights to Hawaii, they are twice
what they
> were the last time I went just over a year ago. I am wondering
what good the
> producer price index is when we import almost everything we use.
Cloths and
> shoes from the far east, food and vegetables from South America and
> Australia, timber from Canada, oil from the middle east,
electronics from the
> far east and auto parts from all over. We do produce missiles and
airplanes
> here and I am sure that every household has at least two or three
of each.
> The made in America symbol means very little. It should read,
assembled in
> America, parts made elsewhere. So when you see all those fancy
numbers, look
> at the balance of payments and see where your dollars are really
going. Of
> course gas prices are back down to $1.75, a real bargain. Medical
costs are
> up, health insurance costs are up, dental work costs more, almost
everything
> you buy to sustain life is up in cost. Of course you can buy a 2
MHz
> computer for under $2000 and that is proof that prices are coming
down. How
> many of you buy a computer on a weekly basis? Is it really 0%
financing on a
> new car or is the cost hidden in the price? What is truth and what
is
> fiction in the numbers that are thrown our way? Could you maintain
the same
> life style on last years income or on the income from 5 years ago?
As the
> powers say, we haven't had any inflation for the past 5 years. Is
there any
> correlation between the governments CPI, PPI and inflation numbers
and the
> cost of living. They produce the numbers, we have to pay to live.
Oh, yes.
> You did get a tax rebate and immediately went out and bought that
cabin
> cruiser you where looking at with all that money the government
returned to
> you. Have a good week. Ira.
>
>
> bruce.larson@xxxx wrote:
>
> > I've read plenty about hospitality and tourism being hit in Orange
> > County(Disneyland) where I live. But these are all minimum wage
jobs
> > (restaurants, airlines, hotels) where there was a labor shortage
> > several months back. These aren't people who buy expensive homes
and
> > cars.
> >
> > --- In realtraders@xxxx, "Me Tarzan" <ibe98765@xxxx> wrote:
> > > "I, for one, don't personally know anyone who is out of a job"
> > >
> > > Consider yourself lucky. I know way too many. With all the
> > defense
> > > spending going on, So. CA might not get hot too bad. But IMO,
the
> > SF
> > > Bay area is the harbinger for much of the rest of the country in
> > this
> > > regard. We even have a web site for out of work people to get
> > > together and do other activities <g>
> > (http://www.recessioncamp.com).
> > > I'm a few miles from SF Airport where United Airlines has a
major
> > > hub. They have laid off a good number of people here. I hear
that
> > > In-n-Out burgers has lowered their starting hourly rate from
$10/hr
> > > to $8 because their are so many candidates. Hotels are mostly
less
> > > than 50% full and are laying off or cutting back the hours of
> > > workers. Restaurants are cutting staff because people are not
> > eating
> > > out as much or spending as much when they do. There are rental
> > > vacancy signs all over my neighborhood as people without jobs
have
> > > either moved in with someone else or left the area. Recruiters
are
> > > going out of business left and right, saying businesses are not
> > > hiring. People are hurting.
> > >
> > > As to the unemployment numbers and 5.4% being lower than what
was
> > > previously accepted - that was a different time. We've built
our
> > > current economy around low unemployment. People expecting to
> > always
> > > be able to find work went out on a limb to buy expensive houses,
> > cars
> > > and take 2 vacations a year. That drove the economy forward
across
> > > all industries. But up here, it generally takes two working
people
> > > to even begin to afford a mortgage. What happens when at least
one
> > > of those people loses their job? Bad news cascades and not
only do
> > > people not by houses and cars, but they cut back on other
spending
> > as
> > > well. Predictions I have seen are for unemployment to hit 6%
when
> > it
> > > the numbers are next reported.
> > >
> > > Here's a good economic link with a lot of info on unemployment
that
> > I
> > > recently came across:
> > > http://www.epinet.org/
> > > --- In realtraders@xxxx, bruce.larson@xxxx wrote:
> > > > I've been reading about massive corporate lay-offs esp
associated
> > > > with banking mergers for the past 5 years. Seemed everyone
just
> > > got
> > > > a big fat severance package and turned around and got another
job
> > > for
> > > > more money. Otherwise they got rehired as consultants for
better
> > > > pay. I suppose the payrolls and claims data are confirming
the
> > > > negative news reports for the past several months. But on the
> > > other
> > > > hand, a 5.4% unemployment rate is far below the previous 6%
> > > standard
> > > > of NAIRU(non-accelerating inflationary rate of unemployemnt)
> > > commonly
> > > > accepted in the early 90s. I, for one, don't personally know
> > > anyone
> > > > who is out of a job. Aside from some furniture chain store
> > > closures,
> > > > I really don't see much evidence of a slowdown out here in
> > southern
> > > > California...yet.
> > > >
> > > >
> > > > --- In realtraders@xxxx, "Norman Winski" <nwinski@xxxx> wrote:
> > > > > Me,
> > > > >
> > > > > I am forecasting a better than expected holiday shopping
> > > > > season. The US economiy bottomed last week. You will hear
about
> > > > > it in February.
> > > > >
> > > > > Cheers,
> > > > >
> > > > > Norman
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "Me Tarzan" <ibe98765@xxxx>
> > > > > To: <realtraders@xxxx>
> > > > > Sent: Saturday, November 10, 2001 1:50 AM
> > > > > Subject: [RT] Layoff's continue to increase
> > > > >
> > > > >
> > > > > > Each layoff likely removes one more shopper for the Xmas
> > > season...
> > > > > >
> > > > > > http://www.msnbc.com/news/555872.asp?cp1=1
> > > > > >
> > > > > >
> > > > > >
> > > > > > To unsubscribe from this group, send an email to:
> > > > > > realtraders-unsubscribe@xxxx
> > > > > >
> > > > > >
> > > > > >
> > > > > > Your use of Yahoo! Groups is subject to
> > > > http://docs.yahoo.com/info/terms/
> > > > > >
> > > > > >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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