Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Earlie who wrote (60053)	1/20/2001 9:56:48 AM
From: flatsville	Read Replies (4) of 436258

Earlie- The U.S. economy is 2/3rds consumer spending. And most of Joe Sixer's recent spending has been debt based. Now, his SUV costs a week's pay to fill, his taxes, utilities, insurance, child care, etc. costs are rising and his STOCKS ARE DOWN. He "feels" poorer, and is cutting back, especially on borrowing for consumption. Hello recession. Yep, I though it was very telling for HD to cite consumer debt levels in the cos. recent warning. I don't recall a retailer ever doin that. IMO big orange box is a better retail proxy than Wal-Mart for consumer spending. People will often put off buying Wal-Mart items to make a needed or desired home improvement. If spending is declining now and going forward at HD that does not bode well for traditional retailers. It tells me consumers believe they really don't have the money...at all. Atlanta-based Home Depot added that it did not expect conditions affecting sales to improve in its first half. It said record cold weather and rising energy costs, investment losses, higher interest rates and increasing consumer debt levels were putting pressure on customers.

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