Jim wrote:
Isn't it funny how the libs all of a sudden grow silent when positive economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


"JohnH" wrote in message
...
On Wed, 13 Aug 2003 16:34:59 -0700, "jps" wrote:

"JohnH" wrote in message
.. .
On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter"
wrote:

Doug, the question referred to the fact that people are spending more
money, not
where they are spending it.

How can you assert that when the news simply reflected Walmart and not the
general state of discount retailers?

How are Walmart's competition doing? If they're doing well, then you may
have a case. If not, money may simply be shifting from one retail outfit to
another, potentially based on price.

See, there's more of the conservative vs. liberal thinking. Our lot is
willing to be patient and make a judgement when all the data is in. You
folks want to make a case on one month, one day, one report.

Sorry bud, that dog won't hunt.

Gosh, jps, I'd have expected you to do this:

-----------------------------------------------------------------------------
Economy shows further signs of recovering

By Patrice Hill
THE WASHINGTON TIMES



More signs that the economy is gathering strength emerged yesterday as big
retailers like Wal-Mart reported their best sales in a year while productivity
boomed and unemployment claims dropped for a third straight week.
The increase in same-store sales last month, at 4.3 percent, was nearly
double the pace set in May and June in a survey of big department stores by the
Bank of Tokyo-Mitsubishi Ltd.
Wal-Mart, the biggest retailer, said better-than-expected sales were partly
the result of tax rebate checks. With consumer momentum building, the retailer
boosted its profit outlook for the rest of the year.
"It was a good month, and it may be a good omen for the second half," said
Michael P. Niemira, vice president of the Tokyo bank. Although warm weather and
heavy discounting by retailers accounted for some of the gains, "this could be
the start of a much better trend," he said.
Some analysts said consumers seem to be spending more on clothing, furniture
and other discretionary items because sharply higher interest rates since June
have dampened interest in buying cars and houses.
While consumers were shifting into a higher gear, the number of people
filing new claims for unemployment benefits dropped for a third straight week to
390,000 last week, a sign that the stagnant job market may be improving. The
four-week average of new jobless claims compiled by the Labor Department dropped
below 400,000 for the first time since February.
Businesses so far during the economic recovery have met growing demand with
the same or fewer workers because of strong productivity gains. That continued
during the second quarter, with a stunning 5.7 percent jump in productivity
reported by the Labor Department yesterday.
Analysts said the acceleration in consumer spending seen last month may
force businesses to start adding workers soon.
The "amazing" productivity gains eked out by businesses and workers in the
last few years have been "the silver lining in the jobless recovery," said Bill
Cheney, chief economist for John Hancock Financial Services. But "based on
today's jobless claims report, this recovery may not be jobless that much
longer." ....
(Continued)
---------------------------------------------------------------------------

But you didn't.

Most respectfully,


John
On the 'Poco Loco' out of Deale, MD




The Washington Times?
The Moonie Paper?

Hehehe.

Trash is as trash reads/

F330 GT wrote:

"NOYB" wrote in message
news "I am pleased our associates achieved record quarterly sales and
earnings,"
said company president and chief executive Lee Scott.
Lots Snipped

How can this be? The economic news, according to most libs, is absolutely
atrocious. Millions upon millions are out of work and looking hard for jobs.
(Many more millions just draw their welfare checks.) The USA is sinking
rapidly.
And, its all George's fault.

Yet WM is going crazy, as are many other retailers. Is it because only the
'rich' shop at WM? After all, they are the only ones to have received any
benefits from a tax cut. Right?

Have I just gotten more stupid in my old age?

Respectfully,

John
On the 'Poco Loco' out of Deale, MD







Things are not always as they seem in the stock market. That's why Walmart
stock went down upon releasing it's earnings.

Looking farther into it:

"A turnaround in the Sam's Club division helped Wal-Mart overcome disappointing
results at its namesake stores and post a 20 percent jump in quarterly profit,
the company said Wednesday.
Sales at the company's namesake and core unit, however, missed sales
expectations amid a challenging retail environment and deeper discounting than
anticipated.

Scott noted too that sales in the last two weeks of the quarter were driven by
smaller tax withholdings and the child-credit rebate. He added that consumer
spending could not continue to hold up the economy without job growth."


The press release also noted that international sales were up 18.8% which
accounted for much of the increase in sales.

Barry




Please, don't confuse our simple-minded righties with hard economic
facts, eh? They might burst a blood vessel.

"Gene Kearns" wrote in message
...
On Thu, 14 Aug 2003 00:33:35 GMT, "Jim"
wrote:

Is the proverbial glass always half empty for you Gene?



Certainly not, but then, I'm not afraid to face reality, either.
Wearing rose colored glasses serves no useful purpose that I am aware
of.

So show me where I am viewing life with rose colored glasses Eugene. Please provide
some facts showing the economy is on a decline.

As you (should) know the current state of the economy, especially when considering the
forecast state of affairs, is about the worst the libs (come on Eugene, admit you are
one) could imagine....Improved retail sales, drastic gains in the stock market (DJ and
Nasdaq), increased productivity, lower unemployment, rock bottom interest rates...the
list goes on.

And the economy is only expected to improve in the coming months.

A libs nightmare when a Republican is President!

Right Gene?

"Harry Krause" wrote in message
...
Jim wrote:

Isn't it funny how the libs all of a sudden grow silent when positive economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


Perhaps a taste of reality is in order here, eh?

Wal-Mart's second-quarter net income increased to $2.44 billion, or 56
cents a share, compared with $2.02 billion, or 45 cents a share, a year
earlier. That result included four cents in earnings from discontinued
operations, with a gain from the sale of its McLane grocery-wholesaling
unit.

Net income from continuing operations rose 15% to $2.3 billion, or 52
cents a share, from $2.0 billion, or 45 cents a share, the company said.
The result was in line with estimates given last week when Wal-Mart
reported July sales.

Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%.

"Consumer spending remained sluggish for most of the second quarter, and
Wal- Mart struggled to rid itself of bloated inventories, which had
grown faster than sales during the previous quarter. Heavy markdowns
pressured profits, and inventory at the close of the quarter was up 9%
from year-ago levels - slightly less than sales, but greater than the
company's longer-term goal for inventory to grow at less than half the
rate of sales. Comparable-store inventories increased by a
low-single-digit percentage, Wal-Mart said.

"Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott
said. The company reduced its rate of "shrinkage," or losses from stolen
and damaged goods, and continued to reap new benefits from increased
buying from cheaper manufacturers overseas.

"In addition, food margins improved even as domestic comparable-food
sales increased 7% to 9%. The company noted that sales of fresh food,
particularly at its Sam's Club unit, have grown swiftly. Fresh food
carries a higher-than- average margin at the company, noted Bill Dreher,
an analyst at Deutsche Bank Securities Inc. in New York."


Not that rosy a picture.










John
On the 'Poco Loco' out of Deale, MD

"Harry Krause" wrote in message
...
Jim wrote:
Isn't it funny how the libs all of a sudden grow silent when positive
economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


"JohnH" wrote in message
...
On Wed, 13 Aug 2003 16:34:59 -0700, "jps" wrote:

"JohnH" wrote in message
.. .
On Wed, 13 Aug 2003 21:12:46 GMT, "Doug Kanter"

wrote:

Doug, the question referred to the fact that people are spending
more
money, not
where they are spending it.

How can you assert that when the news simply reflected Walmart and not
the
general state of discount retailers?

How are Walmart's competition doing? If they're doing well, then you
may
have a case. If not, money may simply be shifting from one retail
outfit to
another, potentially based on price.

See, there's more of the conservative vs. liberal thinking. Our lot
is
willing to be patient and make a judgement when all the data is in.
You
folks want to make a case on one month, one day, one report.

Sorry bud, that dog won't hunt.

Gosh, jps, I'd have expected you to do this:


-------------------------------------------------------------------------
----
Economy shows further signs of recovering

By Patrice Hill
THE WASHINGTON TIMES



More signs that the economy is gathering strength emerged yesterday
as big
retailers like Wal-Mart reported their best sales in a year while
productivity
boomed and unemployment claims dropped for a third straight week.
The increase in same-store sales last month, at 4.3 percent, was
nearly
double the pace set in May and June in a survey of big department
stores by the
Bank of Tokyo-Mitsubishi Ltd.
Wal-Mart, the biggest retailer, said better-than-expected sales
were partly
the result of tax rebate checks. With consumer momentum building, the
retailer
boosted its profit outlook for the rest of the year.
"It was a good month, and it may be a good omen for the second
half," said
Michael P. Niemira, vice president of the Tokyo bank. Although warm
weather and
heavy discounting by retailers accounted for some of the gains, "this
could be
the start of a much better trend," he said.
Some analysts said consumers seem to be spending more on clothing,
furniture
and other discretionary items because sharply higher interest rates
since June
have dampened interest in buying cars and houses.
While consumers were shifting into a higher gear, the number of
people
filing new claims for unemployment benefits dropped for a third
straight week to
390,000 last week, a sign that the stagnant job market may be
improving. The
four-week average of new jobless claims compiled by the Labor
Department dropped
below 400,000 for the first time since February.
Businesses so far during the economic recovery have met growing
demand with
the same or fewer workers because of strong productivity gains. That
continued
during the second quarter, with a stunning 5.7 percent jump in
productivity
reported by the Labor Department yesterday.
Analysts said the acceleration in consumer spending seen last month
may
force businesses to start adding workers soon.
The "amazing" productivity gains eked out by businesses and workers
in the
last few years have been "the silver lining in the jobless recovery,"
said Bill
Cheney, chief economist for John Hancock Financial Services. But "based
on
today's jobless claims report, this recovery may not be jobless that
much
longer." ....
(Continued)

-------------------------------------------------------------------------
--

But you didn't.

Most respectfully,


John
On the 'Poco Loco' out of Deale, MD




The Washington Times?
The Moonie Paper?

Hehehe.

Trash is as trash reads/


Perhaps you prefer these NY Times headlines:

Forecasts for U.S. Recovery Improved

Wal-Mart, TIffany report Earnings Surge

Retail Sales Rise 1.4% in July

Wal-Marts Profits Rise More Than 20%

Isn't it funny how the libs all of a sudden grow silent when positive
economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


The Debt To the Penny
Current Amount

08/12/2003 6,744,943,168,393.25


Current
Month

08/11/2003 6,741,975,510,157.17
08/08/2003 $6,741,662,308,948.83
08/07/2003 $6,738,632,001,233.74
08/06/2003 $6,735,127,561,462.54
08/05/2003 $6,736,678,634,901.89
08/04/2003 $6,732,382,078,949.43
08/01/2003 $6,727,587,083,455.60


Prior
Months

07/31/2003 $6,751,195,107,063.07
06/30/2003 $6,670,121,155,027.26
05/30/2003 $6,558,146,735,285.55
04/30/2003 $6,460,380,745,789.28
03/31/2003 $6,460,776,256,578.16
02/28/2003 $6,445,790,102,794.08
01/31/2003 $6,401,376,662,047.32
12/31/2002 $6,405,707,456,847.53
11/29/2002 $6,343,460,146,781.79
10/31/2002 $6,282,527,974,378.50


Prior Fiscal
Years

09/30/2002 $6,228,235,965,597.16
09/28/2001 $5,807,463,412,200.06
09/29/2000 $5,674,178,209,886.86
09/30/1999 $5,656,270,901,615.43
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38
09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00

SOURCE: BUREAU OF THE PUBLIC DEBT

Looking for more historical information? Visit the Debt
Historical Information archives.


Updated August 13, 2003

"jps" wrote in message
...
"JohnH" wrote in message
...

But you didn't.

Most respectfully,

Long ways to go in the second half.


Sorry, but I don't remember you whining when the market dropped 50% *before*
GW took office.

How'd you get my personal financial records? ;-)

"Gould 0738" wrote in message
...
Isn't it funny how the libs all of a sudden grow silent when positive
economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


The Debt To the Penny
Current Amount

08/12/2003 6,744,943,168,393.25


Current
Month

08/11/2003 6,741,975,510,157.17
08/08/2003 $6,741,662,308,948.83
08/07/2003 $6,738,632,001,233.74
08/06/2003 $6,735,127,561,462.54
08/05/2003 $6,736,678,634,901.89
08/04/2003 $6,732,382,078,949.43
08/01/2003 $6,727,587,083,455.60


Prior
Months

07/31/2003 $6,751,195,107,063.07
06/30/2003 $6,670,121,155,027.26
05/30/2003 $6,558,146,735,285.55
04/30/2003 $6,460,380,745,789.28
03/31/2003 $6,460,776,256,578.16
02/28/2003 $6,445,790,102,794.08
01/31/2003 $6,401,376,662,047.32
12/31/2002 $6,405,707,456,847.53
11/29/2002 $6,343,460,146,781.79
10/31/2002 $6,282,527,974,378.50


Prior Fiscal
Years

09/30/2002 $6,228,235,965,597.16
09/28/2001 $5,807,463,412,200.06
09/29/2000 $5,674,178,209,886.86
09/30/1999 $5,656,270,901,615.43
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38
09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00

SOURCE: BUREAU OF THE PUBLIC DEBT

Looking for more historical information? Visit the Debt
Historical Information archives.


Updated August 13, 2003

Jim wrote:
And the source of your quotes and information is?,,,,



"Harry Krause" wrote in message
...
Jim wrote:

Isn't it funny how the libs all of a sudden grow silent when positive economic news
like this is reported (during GWB's Presidency)?

What a coincidence!


Perhaps a taste of reality is in order here, eh?

Wal-Mart's second-quarter net income increased to $2.44 billion, or 56
cents a share, compared with $2.02 billion, or 45 cents a share, a year
earlier. That result included four cents in earnings from discontinued
operations, with a gain from the sale of its McLane grocery-wholesaling
unit.

Net income from continuing operations rose 15% to $2.3 billion, or 52
cents a share, from $2.0 billion, or 45 cents a share, the company said.
The result was in line with estimates given last week when Wal-Mart
reported July sales.

Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%.

"Consumer spending remained sluggish for most of the second quarter, and
Wal- Mart struggled to rid itself of bloated inventories, which had
grown faster than sales during the previous quarter. Heavy markdowns
pressured profits, and inventory at the close of the quarter was up 9%
from year-ago levels - slightly less than sales, but greater than the
company's longer-term goal for inventory to grow at less than half the
rate of sales. Comparable-store inventories increased by a
low-single-digit percentage, Wal-Mart said.

"Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott
said. The company reduced its rate of "shrinkage," or losses from stolen
and damaged goods, and continued to reap new benefits from increased
buying from cheaper manufacturers overseas.

"In addition, food margins improved even as domestic comparable-food
sales increased 7% to 9%. The company noted that sales of fresh food,
particularly at its Sam's Club unit, have grown swiftly. Fresh food
carries a higher-than- average margin at the company, noted Bill Dreher,
an analyst at Deutsche Bank Securities Inc. in New York."


Not that rosy a picture.










John
On the 'Poco Loco' out of Deale, MD




The New York Stock Exchange news story based upon statements from
Wal-Mart management and those who analyze Wal-Mart stock.

--
* * *
email sent to will *never* get to me.

"Harry Krause" wrote in message
...
Jim wrote:
And the source of your quotes and information is?,,,,



"Harry Krause" wrote in message
...
Jim wrote:

Isn't it funny how the libs all of a sudden grow silent when positive economic
news
like this is reported (during GWB's Presidency)?

What a coincidence!


Perhaps a taste of reality is in order here, eh?

Wal-Mart's second-quarter net income increased to $2.44 billion, or 56
cents a share, compared with $2.02 billion, or 45 cents a share, a year
earlier. That result included four cents in earnings from discontinued
operations, with a gain from the sale of its McLane grocery-wholesaling
unit.

Net income from continuing operations rose 15% to $2.3 billion, or 52
cents a share, from $2.0 billion, or 45 cents a share, the company said.
The result was in line with estimates given last week when Wal-Mart
reported July sales.

Sales increased 11% to $62.6 billion, while same-store sales increased 3.2%.

"Consumer spending remained sluggish for most of the second quarter, and
Wal- Mart struggled to rid itself of bloated inventories, which had
grown faster than sales during the previous quarter. Heavy markdowns
pressured profits, and inventory at the close of the quarter was up 9%
from year-ago levels - slightly less than sales, but greater than the
company's longer-term goal for inventory to grow at less than half the
rate of sales. Comparable-store inventories increased by a
low-single-digit percentage, Wal-Mart said.

"Despite the markdowns, Wal-Mart managed to shore up profits, CEO Scott
said. The company reduced its rate of "shrinkage," or losses from stolen
and damaged goods, and continued to reap new benefits from increased
buying from cheaper manufacturers overseas.

"In addition, food margins improved even as domestic comparable-food
sales increased 7% to 9%. The company noted that sales of fresh food,
particularly at its Sam's Club unit, have grown swiftly. Fresh food
carries a higher-than- average margin at the company, noted Bill Dreher,
an analyst at Deutsche Bank Securities Inc. in New York."


Not that rosy a picture.










John
On the 'Poco Loco' out of Deale, MD




The New York Stock Exchange news story based upon statements from
Wal-Mart management and those who analyze Wal-Mart stock.

--
* * *
email sent to will *never* get to me.


Post a link. Otherwise you, as usual, are full of it.