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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (2520)7/7/2000 11:03:18 AM
From: SeaViewer  Read Replies (1) of 436258
 
One thing I don't understand is why retail stocks go up. If there is a slowdown the retail sales won't be good. Even without a rate hike (very unlikely, since ECB and Japan will raise later), high gas and food price will eat mid-class American family' pocket money. Since the gas price is now $0.50/gallon higher, average family has to pay at least $50 more every month (assume annual 1200 gallons for two cars). Plus food price is much, much higher than 6 month ago. Americans have to squeeze that money out of somewhere (due to their traditional low saving rate), most likely from clothing, etc.
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