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| Financial crisis: Eat, spend and be merry | |
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| Tweet Topic Started: Oct 27 2008, 06:31 PM (641 Views) | |
| ds9074 | Oct 27 2008, 06:31 PM Post #1 |
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Admiral
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In case you are unaware Boris Johnson, or simply Boris as he is known here, is the Mayor of London. Boris for PM
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| Franko | Oct 27 2008, 08:45 PM Post #2 |
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Shower Moderator
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So what is the mood over there, DS ? Guarded optimism about the economic future ? Or a pall of gloom over everything. I like this quote:
Personally, I think traditional definitions of "capitalism" and "socialism" and "liberalism" have become warped in a more complicated era. Few people these days even understand how money works. Although lately, some are learning fast about what "deficit" and "inflation" and "interest rates" are all about. |
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| ds9074 | Oct 28 2008, 06:35 AM Post #3 |
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Admiral
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Franko, the media here is tending to be either; - Very Gloomy or - Talking about 'austerity' There are a lot of people who are now experiencing difficulty. At the momement the main difficulty I think most people are feeling every day is actually the effects of inflation and for those with mortgages the effects of higher interest rates. The effects of recession are not being felt yet for a lot. That said there have started to be more job losses. I know someone who's son has just been made redundant from a well paid City job. I think peoples fears over future job security, with the stories we keep seeing on the news, is causing concern and loss of confidence in their future prospects. Also house price falls make people feel poorers. That, together with a squeeze on peoples disposable incomes from higher prices/ interest, means they are cutting back. And so a vicious recessionary cycle begins. Therefore while we have the cash we should eat, spend and be merry... Edited by ds9074, Oct 28 2008, 06:36 AM.
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| somerled | Oct 28 2008, 06:59 AM Post #4 |
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Admiral MacDonald RN
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I predict a very quiet Xmas season in the shops this year, particularly in the USA and the EU and UK. |
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| Dwayne | Oct 28 2008, 07:17 AM Post #5 |
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Profanity deleted by Hoss
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Went to the movie theatre last Friday night... it was packed. Went to Wal-Mart during the day yesterday to by some things... even during the day, it was busy. Went driving around Saturday taking pictures of the trees, and while doing so I passed through a poor nieghborhood I used to live in... since it was such a mild day, there were people out enjoying themsevles, cooking out and such. Anecdotally, nothing much to suggest hard times here in Wichita, but if the aircraft industry collapses, then we have problems. |
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| Dandandat | Oct 28 2008, 10:01 AM Post #6 |
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Time to put something here
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Its funny, every times I go near the shops they seem to be bustling. Which makes me go home because I hate being in a crouded shop. |
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| somerled | Oct 28 2008, 10:11 AM Post #7 |
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Admiral MacDonald RN
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How many of those people are actually spending money ? Malls can be full and not be selling a lot. |
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| Admiralbill_gomec | Oct 28 2008, 04:48 PM Post #8 |
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UberAdmiral
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That's one of the silliest things I've ever heard. People don't drive all the way to a shopping mall just to window shop. Especially with fuel prices higher. I spent about an hour and a half in First Colony Mall today, before and over lunch. Today is Tuesday. Both the Dillard's and Macy's were crowded with upscale soccer mom types. The food court was packed. I was amazed at the number of people (aside from me) paying US$3.49 a slice for pizza, for example. I definitely got a walk in today. |
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| Minuet | Oct 28 2008, 05:51 PM Post #9 |
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Fleet Admiral Assistant wRench, Chief Supper Officer
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Actually AB - as a person who works in a mall I can assure you that not everyone shops everytime they go to a mall. Take your "soccer moms". The ones you see at lunch on a weekday are usually there to meet each other for lunch. They are there to socialize rather then shop. They may shop but it's not the main purpose of going to the mall on a weekday. Believe me - I was a stay at home for 6 years and I know whereof I speak. You will also find lots of mom's with baby carriages, especially if the weather is bad and they can't walk outdoors. |
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| ds9074 | Oct 28 2008, 07:32 PM Post #10 |
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Admiral
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I know from a friend that works in food retail here that while the shops are full people are choosing cheaper brands. Often the stores only make a very small amount on their cheap home brand items if anything (some are loss leaders). So a busy shop does not automatically equal a profitable one. |
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| somerled | Oct 28 2008, 08:59 PM Post #11 |
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Admiral MacDonald RN
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My parents , uncle and granddad had a jewellery shops on Hunter Street (main drag of Newcastle) , and on Maitland Road (main street of Mayfleld) and on Beaumont Street (main street in Hamilton) and when I was in high school I worked in these for extra pocket money during the Xmas school holidays and to help mum and dad out. Most people who came into the shop were ONLY BROWSING and window shopping. Sometimes the same people visited the shop several times over a period of several days or weeks before actually deciding on something they wanted to buy. My wife often goes into town or to Charlestown Square or Kotara Fair , to meet her sisters, or to meet friends (who are also stay at home wives) , or to meet her mum, they might buy a milkshake or something light and cheap for snack, but they rearly go there to shop. My mom-in-law is on a single age pension so she has to watch her pennies, and my sisters-in-law don't have a lot of money to waste frivilously either (especially Michelle who has 6 children (13 yo to less than 12 months old)) and only a roadworking labourers' wages coming in. Even when my wife is there to spend - it's the weekly grocery shop only. The big malls are extremely popular with people here in summer , not everyone here has an airconditioned home , and they go to the mall (which is nice and cool inside to cool off and will sometimes stay there just window shopping and browsing for many hours , many aged pensioners are do this). And we all know how kids like to hang out in malls too , just to get up mischief , or just to hang with their mates . So - just because a mall is packed with people does not mean all or even many of these people are there to actually buy anything. Edited by somerled, Oct 28 2008, 09:14 PM.
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| somerled | Oct 28 2008, 09:16 PM Post #12 |
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Admiral MacDonald RN
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Maybe you should visit a mall in a less affluent part of town. |
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| Admiralbill_gomec | Oct 29 2008, 07:35 PM Post #13 |
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UberAdmiral
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Actually, the weather has been stunning lately, and all those soccer moms had shopping bags. Sorry. |
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| Admiralbill_gomec | Oct 29 2008, 07:36 PM Post #14 |
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UberAdmiral
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Why would I? It was the closest. Another silly thing. |
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| somerled | Oct 29 2008, 08:11 PM Post #15 |
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Admiral MacDonald RN
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upscale ?? = ?? rich or trying to look rich ? who are you trying to impress ?Probably find if you checked that most the ladies were buying what ever they were buying on never never (credit cards). Or could it be that the shopping bags were full of the weeks or fortnight's groceries ? you've given no evidence they were full of unnecessary consumer goods and luxury goods We only really have your word for it , and since you can't be bothered going to other malls (in underprivilaged areas or poor districts (snobbery ??)) then your claimed observation is worthless. |
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who are you trying to impress ?
2:13 PM Jul 11