Slipping imports reflect slowing economy

[RamboLiberal]

Source: LA Times

Cargo containers crammed with foreign-made goods that were supposed to set a record in August at major U.S. ports took an unexpected turn, with imports sinking 1.4% in another sign of the slowing of the economy.

Imports of items as diverse as toys and tiles could also be lower in September and October, when retailers will be stocking shelves for the holidays, because shell-shocked shoppers are expected to continue to pull back.

The falloff "reflects the consumer-demand-driven weakness in the U.S. economy," said Paul Bingham, an economist with Global Insight, a research firm that monitors cargo movements for the nation's top retailers.

The slump in oceangoing imports unloaded at the 10 largest U.S. container ports in August was the first drop since Global Insight began its monthly Port Tracker report in 2005. The number stunned some port watchers.


Read more: http://www.latimes.com/business/la-fi-ports9oct09,0,7945935.story?coll=la-home-center

[EST]

1. How many millions of times have we told them?

People cannot just keep pulling wealth out of nowhere. The cycle has to stop and when it does, restarting is going to be a problem. We don't make anything in this country any more, except for some agricultural products, and even those endeavors are increasingly being taken over by corporations, even multinationals.

No jobs, no pay. No pay, no purchase, No purchase, no industry, no industry,nojobnopaynopurhasenoindustrynojobsnopay...

Edited to add: Dumbasses!

[Vincardog]

2. I heard that Dumbasses!

[IthinkThereforeIAM]

3. As Howard Cossell would say...

...I couldn't put it more succinctly myself.

[ixion]

4. exactly...jobs are scarce and pay is down, down, down...but everything else is up

what the hell did they THINK was going to happen.

I second that: dumbasses!

[bahrbearian]

5. Would you still call me a Dumbass if I told you I just got an OK

on a third mortage, huh who's the dumbass now, I'm going to buy me a brand new one-ton truck. Are you going to call me a dumbass when I drive by you in that.

[Lady Effingbroke]

6. dumbass!

:P

[EST]

7. Ummmm, yes?

:toast:

[bahrbearian]

8. You guys are just jealous,,,and after I hang the ball bag on the

trailer hitch, you'll be to Scared :scared: to call me a dumbass.

[EST]

9. Don't forget the other required option--

A big foot hanging there and kicking that sack.

Oh, and by the way, I'm already too scared to call you a dumbass. The very thought of a one ton truck (red, no doubt) with a giant nut sack hanging off the trailer hitch gives me shivers.

[Hydra]

12. Dumbasses indeed

The 1% buy things that make them more money. You need poor saps like me to buy smoothies, ice cream, puppies and kittens, Playstations, new cars, clothes...

The problem is the poor sap here can barely buy food!

[Speciesamused]

10. No Job...Hard to buy anything when you have no income!!!

Lost my job after 9 years. Downsizing.
I have been looking for two months now. Only thing here is fast food jobs.
Where they overwork you, poor working conditions and underpay.
As we know that is the norm for most businesses at this point in the game.
You have no choice and they know it. Retailers are getting ready for Xmas already.
I believe they are in for a rude wakening. That wealthy 1% can only buy so much.
Peace and Respect.

[Toots]

11. The US dollar has lost almost half of it's purchasing power since Bush*

With most countries in the world switching to the Euro because of how the US dollar is becoming worth so much less, it is bound to have major impact on imports. I have a receptionist in my office that used to be very right wing and she is about to make a quick trip into Canada for short vacation. I mentioned to her that it is too bad she couldn't have made the trip a couple of years ago when the Canadian dollar was only worth sixty five cents to our dollar. Now it is par or even a little more. Her words on this issue to me were Dman that Bush*. I laughed and said well we get what we pay for don't we..