Because it shows ALL the SIGNS -- even if stoo-pid Amurkns can't see it!
"Trade gap narrows in June" by Michael M. Grynbaum, New York Times News Service | August 13, 2008
NEW YORK - The economy is chugging along on the strength of foreign demand, even as many Americans cut back on basic purchases outside of food and fuel.
That was the message in yesterday's report on the trade deficit, which unexpectedly narrowed in June despite record prices for oil and energy imports.
Demand for exports increased 4 percent - the biggest monthly gain in four and a half years - to the highest level ever. Foreign customers snapped up $164.4 billion in American-made automobiles, electronics, food, and industrial supplies, among other products, the Commerce Department said.
You know, like third world countries that used to supply us with those cheap goods!
The surge in exports was enough to narrow the trade deficit by 4.1 percent, to $56.8 billion, a much smaller figure than economists had expected. But take away the foreign sales, and many American businesses would be struggling. Outside of oil, domestic demand is lagging as American consumers cut back spending.
If they are not already!
Consumer spending was negative in June, after adjusting for inflation, and Americans shied away from foreign-made clothing, appliances, computers, and a number of other common consumer goods.
And we were told the numbers grew!!!
We were told "rebate" checks spiked spending!
Sigh!
"If you look at apparel and TV and furniture and toys and games, they were all down, and down quite sharply," said Nigel Gault, chief domestic economist at Global Insight, a Waltham, Mass.-based research firm. "The only reason imports didn't plunge this month was because of pharmaceuticals," Gault said, "which were way up but can be very volatile from one month to the next."
Translation: YOUR ECONOMY is SHIT, Americans!
Imports fell 1.9 percent in June after stripping out oil and pharmaceutical products, according to data from ING Bank. Food and beverage demand dipped 1.9 percent, clothing was down nearly 8 percent, and semiconductors dropped 6.1 percent.
The weakening purchasing power of the US consumer could eventually drag down growth around the world, in turn driving down foreign demand. And a slowdown in other countries could hurt American exports, now a strong point in a weak domestic economy.
Indeed, foreign demand has been holding up but there are signs of economic weakness abroad. Last week, the European Central Bank warned of a slowdown in growth and suggested it would hold interest rates steady to help fight inflation."
Translation: The meltdown is STILL COMING!
Need more proof of your collapsing standards of living, America?
"Bargain hunters propel TJX to tripled 2d-quarter profit" by Bloomberg News | August 13, 2008
NEW YORK - TJX Cos., the owner of the T.J. Maxx and Marshalls chains, said profit more than tripled as cash-strapped consumers bought reduced-price clothes and shoes.
Translation: Your STANDARD of LIVING is TANKING, America!
Second-quarter net income climbed to $200.2 million. Chief executive Carol Meyrowitz snagged deals on designer-label clothes, shoes, and bedding as department stores reduced inventory and closed locations.
But sales are great!!!!
Some consumers facing higher gasoline and food prices are shying away from Macy's Inc. and other chains and shopping at TJX's stores, where prices may be 20 to 60 percent lower.
Translation: Your STANDARD of LIVING is TANKING, America!
"In down economies, we tend to capture new customers," Meyrowitz said yesterday on a conference call with investors and analysts. "When times improve, our history has shown that our new customers stay with us because they love our value."
Translation: This economy ain't ever going back up for you, AmeriKan shit-eaters!!!!
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Another sign:
"Dollar, demand drive oil lower" by Associated Press | August 13, 2008
NEW YORK - Oil prices fell again yesterday, dampened by a stronger US dollar and more evidence that developed countries such as the United States are cutting back on their energy use.
Light, sweet crude dropped $1.44 to settle at $113.01 a barrel on the New York Mercantile Exchange, after falling as low as $112.31, a new three-month low. Oil is now nearly $35 below its July 11 record high of $147.27.
The average national retail gasoline price was $3.80 a gallon yesterday, according to AAA, the Oil Price Information Service, and Wright Express. That is down a penny from Monday.
Yup, the price of oil drops dollars, and we get a PENNY at the pump!
A stronger dollar also weighed on oil prices. The euro traded at $1.4914, about the same as late Monday but at its lowest levels since February. The pound traded at its lowest levels since November 2006.
It's amazing how they mention a stronger dollar when applicable, but ignore it when it plummets!
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