 |
|
| View previous topic :: View next topic |
| Author |
RICH GET RICHER |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
 Posted: Fri Nov 05, 2010 8:06 am Post subject: RICH GET RICHER |
 |
|
In this respect we too are a "devolping nation" The developing two-tiered net-worth cross section is becoming ever more "bar-bell"--and it's showing in retail:
The Trickle-Down Effect in Retail
By JIM CRAMER
| Quote: |
"Let me tell you about the very rich. They are different from you and me." I always thought F. Scott Fitzgerald was speaking about how the rich handled themselves in "The Rich Boy," with starts with that observation. Now I know he was speaking about portfolios and their impact on shopping, notably Tiffany , Whole Foods , Coach , Nordstrom and Williams-Sonoma -- places where higher costs get passed on and nobody blinks. These are all stores where there inflation is taken in stride and prices, albeit higher because of the cost of silver or cotton or food, not only don't inhibit profits, they seem to improve them. We've been in a barbell economy for certain since the great bull market of 2009 re-ignited itself when the polls showed the Republicans would take the house. All five of the merchants above put up truly amazing numbers, and... |
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
 |
| Author |
RICH GET RICHER Replies |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Fri Jan 28, 2011 8:55 am Post subject: |
|
|
It is said that 40% of egypt lives on $2/day or less. That's probably not gonna get you a revolution in and of itself but when Al Jerrzeera brings the rising fortunes of the chinese peasant into the home (while underscoring their oil dependence!) and the price of rice shoots up..... Tunisia is certainly a spark. The Arab world is caught once again dawdling in the Middle Ages. --Dubai notwithstanding.
When is it "our turn" 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Wed Jan 26, 2011 4:16 pm Post subject: |
|
|
Makes the cover of this week's Economist:
http://www.economist.com/node/17959590?story_id=17959590
And focus of Davos. The "rising tide" model has clearly become dysfunctional but editors here feel it can be saved.
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Fri Jan 21, 2011 8:39 pm Post subject: |
|
|
I made a lot of good calls over this cycle--some very good. This was not one of them. Indeed my estimation of the rich I got 180 degrees wrong. I didn't bet against them, but when shopping autos I for example, I stayed away from BMW and Mercedes. The art market, reformed and redefined as it is, has bounced back in a way that belies all expectation. Indeed the Hirst "baby skull" is more pronounced in my mind than the NAZ or SP 400 return--or, even, that "red gold" copper. What has not come back is the Yacht.
Yes, that bane of Bill Miller that near marked the top, that particular weakness of american money (or the american tax code), is in structural decline. Our surrogates to the south, mexican oligarchy, is picking up the pieces but dreams of chinese pleasure cruisers will be just that, dreams.
| Quote: | Some yacht brokers say that Americans are holding back now largely because they fear being viewed as profligate when many people have lost jobs, and that they will soon return.
|
There's no "value" in yachts (see Paradox of Thrift). To able to reside "offshore" is another example of governments driving markets. But the invasion of Switzerland and "Black Listing" the Caribbean makes that now a sunken expense. All we have left is excess. And that, all facts to the contrary, is un-american right now.
http://www.nytimes.com/2011/01/22/business/22yachts.html?pagewanted=2&_r=1&hp
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Sun Nov 07, 2010 1:54 am Post subject: |
|
|
| Quote: | | The October employment situation was dramatically weaker than the headline 159k increase in the payroll employment measure. The broader household employment fell 330k. The only reason that the unemployment rate held steady is that 254k dropped out of the labor force. The civilian labor force participation rate fell to a new low of 64.5%, indicating that people do not believe that jobs are available, but this serves to hold the unemployment rate down. In addition, the employment-to-population ratio fell to 58.3%, the lowest level in nearly 30 years. |
--Lacy Hunt
Bless the rich for they are us. Pity the fool who shied away from our markets because of the jobs (mis)numbers. Yes, Mr. Mauldin' that's you. After five years of bubble bull BRICs you'd think we'd acquired a taste for anti-egalitarianism. 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
Please log in to view without the ad banners |
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
Powered by phpBB
|
FAQ
Search
Memberlist
Usergroups
Statistics
Register
Profile
Log in to check your private messages
Log in
