Chasing the Wind

News. Faith. Nonsense.

The Economy Today

Two news stories today make it clear how the economy is fairing today. First, the economy is in the doldrums. Consumers aren’t spending, businesses are losing money, the world is coming to an end:

NEW YORK (Reuters) – Discount retailer Dollar General Corp. on Wednesday posted an unexpected profit fall with customers hurt by high oil prices and unemployment, and expressed caution for the key holiday season.

Discount retailers, including No. 1 retailer Wal-Mart Stores Inc. have warned that lower-income household budgets are tight as the key holiday season starts with high oil prices driving up heating bills and gasoline costs.

Also, the economy is booming. Consumer spending is up, business is great, we’re all going to be rich:

WASHINGTON (Reuters) – U.S. consumer spending rose a sharper-than-expected 0.7 percent in October, showing the economy off to a solid fourth-quarter start despite a step-up in inflation, a government report showed on Wednesday.

“Looking pretty solid,” said Kurt Karl, head of economic research at Swiss Re in New York. “I would say there is a very good holiday season coming up.”

The stock market was down yesterday on half of the news and up today on the rest of the news. If I can shed any more light on the economy, drop a comment and I’ll be happy to explain it.

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Michael

Follower of Jesus, conservative, freedom-loving patriot.

9 responses to “The Economy Today”

  1. onelamb Avatar
    onelamb

    Good Luck with that!!:roll: I think you would have to be a politician to be able to spin that one together.:wink:

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  2. Jo Avatar
    Jo

    Well, if you look at the Black Friday sales, it was the high-end and discount stores which were pleased and the mid-range stores which were disappointed. I don’t think the two reports contradict each other, I think they simply illustrate that the gap bewteen the haves and have-nots is widening, and the middle class is hurting.

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  3. A.M.M. Avatar
    A.M.M.

    Is it too late to make a John Kerry joke about the market’s indecision?

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  4. Courtney Avatar
    Courtney

    I agree with Jo about the gap widening between the haves and the have-nots. Robert Kiyasoki has a great explanation why in Who Took My Money? (also the author of Rich Dad Poor Dad).

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  5. Sean Avatar
    Sean

    Hey, all you have nots – try starting a business, then you can become a real have-not. Try “The Millionaire Next Door” (forgot the author). But one day, maybe you can become a have. Welcome to the market system all……

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  6. Courtney Avatar
    Courtney

    Why do you think we’re all driving Honda Accords? That’s what I got out of the book. Drive Accord = Millionaire. So far, it’s not working 🙂

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  7. Michael Avatar
    Michael

    Onelamb – No way would I want to be a politician. Too much compromising on values for me. 😛

    Jo – You may be right. My brother has an additional take; Check-21 is here and people can’t buy things at the end of the month and expect their 1st of the month paycheck will cover it. Now they have to wait until the beginning of next month.

    AMM – I thought about Kerry, too, but decided he’s old news. 😛

    Courtney – you’re supposed to by the Accord and then put the Cadillac money into savings. 😛

    Sean – You’re blessed in so many ways. You’re a “have.” 🙂

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  8. Courtney Avatar
    Courtney

    Ohhh, put the $$ into savings. Don’t remember that part 😆

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  9. Michael Avatar
    Michael

    Yeah, if you put the $$ into a boat, a girlfriend, or donuts, driving the Accord won’t help much. 😕

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About Me

Michael, a sinner saved by grace, sharing what the good Lord has shared with me.

Solomon, in the book of Ecclesiastes, said, “I have seen all the things that are done under the sun; all of them are meaningless, a chasing after the wind.”

If you’re not living for the glory of God, then what you’re doing is meaningless, no matter what it is. Living for God gives life meaning, and enjoying a “chasing after the wind” is a gift from God. I’m doing what I can to enjoy this gift daily.

Got questions? I’m not surprised. If you have any questions about Chasing the Wind, you can email me at chasingthewind@outlook.com.

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