Epic U.S. Retail Fallout

[errolanderson]

Macy's quarterly results triggered a 14% share drop today. Quarterly profits down nearly 40% with share prices below $26, the first time on 5 years. Overall U.S. retail down about 5%

U.S. recession appears quickly deepening as consumerism fades even though politicians and government won't admit it. Fed continues to talk up 3 more rate hikes this year. Not a hope-in-hell of that happening (IMO).

Fed in a major pickle as they must try to unwind their incredible $4 trillion balance sheet without knocking over the apple cart. Problem is; cart's already knocked over . . .

Yet, NASDAQ rolls to record highs, day-after-day with the VIX the lowest in years. Investor complacency is a true indicator of a bullish 'n bullet-proof stock market. Ya think . . . .

[furrowtickler]

Hmmmm , disposable income from a GE average Joe is disappearing .
Coming to Canada very soon .

[Quadtrack]

So Errol will we get another chance to buy a winter Arizona home for 20 cents on the dollar? How long? Ave age of farmers is 55 so not a bunch of time left for some of us.

[errolanderson]

So Errol will we get another chance to buy a winter Arizona home for 20 cents on the dollar? How long? Ave age of farmers is 55 so not a bunch of time left for some of us.

Not sure about Arizona homes, but used cars are taking a hit stateside. Apparently, a subprime auto loan crisis in-progress . . . good grief.

[ajl]

Bad as it is in the US, it is worse in Canuskistan. No pipeline west will ever get built thanks to the BC election. Who bought the 1.5 B in home mortgages from Home Capital? My bet is the bank of Canada through some related entity. Canadian QE is what that is.

[Rareearth]

Buy Amazon!

Retail box stores are a old concept.

[danny W1M]

ajl, perhaps CPP !
Could be why they sold off the farm land, get the cash flow, to take on Home Capital.
You weren't depending on them to retire with any way, were you?

[danny W1M]

Quadtrack, last time that happened, our dollar was strong due to resources, this time I don't think it'll be as pretty. Our dollar might be worthless, then watch the chicoms come in and by up the companies and resources .