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Front Page: Retail Sales Suffered Record Drop in Oct.

  • Retail sales in the US dropped in October by the most on record. The 2.8 percent decrease was the fourth consecutive drop and the biggest since records began in 1992 and purchases excluding automobiles also posted their worst performance.— Bloomberg
  • President-elect Barack Obama plans have a post-campaign sit down with John McCain on Monday in Chicago. An Obama spokesperson said the pair will be joined by a McCain confidant and Rep. Rahm Emanuel, the Illinois Democrat whom Obama has chosen to be his White House chief of staff. — The New York Times
  • World leaders are heading to Washington today to work on ways to tackle the global economic crisis which has plunged much of Europe into its first recession since the euro currency was formed. — Reuters
  • Russia's Parliament has supported a bill to extend the presidential term from four to six years causing further speculation of Vladimir Putin's early return. — BBC
  • The export slowdown that has been supersized by the word financial crisis has contributed to the shutdown of factories in coastal regions of China. The closures are leaving the unemployed with few options. — International Herald Tribune

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bluesarahlou bluesarahlou 7 years
Hmmm...I do love Lyle Lovett...give me another reason to move GS!
Great-Sommelier Great-Sommelier 7 years
He went to my college and was a big deal in that town. Used to sit on front porch and just play.
Great-Sommelier Great-Sommelier 7 years
Lyle Lovett "That's Right."
kranky kranky 7 years
What?!?! Ya'll is off limits now? No way, I've been using it all day, but I'm from NC. GS - what's that song... "Oh That's Right, You're Not From Texas."
Great-Sommelier Great-Sommelier 7 years
<img src="http://i181.photobucket.com/albums/x121/lizlake68/texas.gif">
Great-Sommelier Great-Sommelier 7 years
lol, Angela, that is so funny you mentioned that. I had "Y'all" first, then changed it because I have read some unpleasant Texas comments here in the past and didn't want to set myself up like that!
kranky kranky 7 years
Happy to hear lots of people are doing well and saving!
kranky kranky 7 years
Angela - is it me or have the prices fallen on only the ugly places?
Jillness Jillness 7 years
I am not spending as much, but it isn't because I am making less, more that I am just scared about the state of things.I read that if GM shuts down, unemployement could reach 10%! During the year after the 1929 stock market crash, it was only 8%! The article I read said that GM spends $31 Billion dollars a year in goods and supplies that they purchase from other companies, and so if they close they won't be spending that money. I think that things have gotten worse, but it will take some time for the 1 million+ people that have lost their jobs this year to make an impact on the economy by their lack of spending. It might take a while for this to hurt many Americans, but I do believe it is on it's way.
Jillness Jillness 7 years
I am not spending as much, but it isn't because I am making less, more that I am just scared about the state of things. I read that if GM shuts down, unemployement could reach 10%! During the year after the 1929 stock market crash, it was only 8%! The article I read said that GM spends $31 Billion dollars a year in goods and supplies that they purchase from other companies, and so if they close they won't be spending that money. I think that things have gotten worse, but it will take some time for the 1 million+ people that have lost their jobs this year to make an impact on the economy by their lack of spending. It might take a while for this to hurt many Americans, but I do believe it is on it's way.
Angela123 Angela123 7 years
GS...shouldnt that be "YALL should come to Texas"?! lol And kranky, money isnt any tighter for us (so far) than usual, but we're in the same boat as far as looking for a house in the DC area...UGH.
Angela123 Angela123 7 years
GS...shouldnt that be "YALL should come to Texas"?! lolAnd kranky, money isnt any tighter for us (so far) than usual, but we're in the same boat as far as looking for a house in the DC area...UGH.
kranky kranky 7 years
For all you who answered my question - I am really thankful that it is self-imposed. For anyone who is truly struggling, I really hope that things turn around for you. I feel confident that all posters on Citizen share my sentiments so there's lots of people pulling for you! :)
kranky kranky 7 years
For all you who answered my question - I am really thankful that it is self-imposed. For anyone who is truly struggling, I really hope that things turn around for you. I feel confident that all posters on Citizen share my sentiments so there's lots of people pulling for you! :)
bluesteyes bluesteyes 7 years
ANd people i know aren't starving but they are watching their pennies. It is bad all over the world and only the very rich (and I'm talking billionaire here) who aren't affected. Those people wouldn't be using pop though. That i promise.
bluesteyes bluesteyes 7 years
Oh party sugar that's great! Kranky: I'm not earning as much, i will be very honest, my hubby earns more, a lot more and we have zero kids, i'm trying to pen something, and i'm in the food business, we have big bills to pay on our mortgage and keeping warm in uk, and it's lovely that i can afford to work less (though this will change very soon as i'm getting many job offers), i guess it is lean because time will tough. World recession is here for a few years. i've stopped eating out so much already. hope that helps
bluesteyes bluesteyes 7 years
Oh party sugar that's great!Kranky: I'm not earning as much, i will be very honest, my hubby earns more, a lot more and we have zero kids, i'm trying to pen something, and i'm in the food business, we have big bills to pay on our mortgage and keeping warm in uk, and it's lovely that i can afford to work less (though this will change very soon as i'm getting many job offers), i guess it is lean because time will tough. World recession is here for a few years. i've stopped eating out so much already. hope that helps
Jude-C Jude-C 7 years
Thanks, kranky :)
Jude-C Jude-C 7 years
Thanks, kranky :)
bluesarahlou bluesarahlou 7 years
I think about moving sometimes GS...but there are too many things I'm just not willing to give up. Climate is one. Where I live it's really mild, there aren't too many days where I'm truly miserable from heat or cold.
bluesarahlou bluesarahlou 7 years
I think about moving sometimes GS...but there are too many things I'm just not willing to give up. Climate is one. Where I live it's really mild, there aren't too many days where I'm truly miserable from heat or cold.
Great-Sommelier Great-Sommelier 7 years
You all should come to Texas. Major buyers market here. You get waaay more for your money too.
liliblu liliblu 7 years
Self imposed. I buy gifts for my cousin's children each year. That's where most of my Christmas money goes. Funds would have tighter but I paid off my car and paid off credit debt.
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