The Katana: Don’t Count Out The US Consumer! 11/30
The US consumer is alive and kicking! With the world stock markets crashing last week, nobody really cares about the financial losses in their portfolios, except for whether they can save $100 on a netbook by standing in line for 5 hours! I expect the markets to rebound this week as the UAE publicly declares it will back all of Dubai World’s debts.
We will never learn from our mistakes because the desire for things is just too great. You can bet your last dollar that if there’s any hint of a bubble in a new asset class, it’ll grow bigger because everybody will want in to try and capitalize. I know I will at least try!
The fact of the matter is, if you don’t care, I don’t care because a rebound in heavy consumer spending leads to robust profits, which ultimately leads to higher stock prices and a “better” economy. We need others to spend, so the rest of us can get rich. With rabid spending on the rise, I’m hopeful 1Q10 is going to be a job market frenzy. The in-store retail sales figures were only up around 0.5%-1% YoY last week, but we should expect a surge in online sales.
With only one month left in the year, do you feel you are on track to achieve your financial goals? My goals were simply to stay alive during Armageddon, squirrel as much money away into savings, and be the most invaluable colleague as possible. Of course, what I should have done was bet the ranch on the stock market in February and win the World Series of Poker, but I’m not smart enough.
It warms my heart to see such robust community participation. I’ve been to numerous sites where I ask a question to the webmaster and it’s just crickets (silence). I rarely go back as a result. Hence, I promise to continue being accessible! To facilitate, I’ve installed the “Comment Luv” plug-in. This plug-in showcases your latest blog post title with link whenever you leave a message and click the box. The highlight spurs me and others to check your posts as a result.
Finally, can someone educate me about Technocrati? I signed up a long time ago, and have done nothing except put the badge up. Is Technocrati useful to you? If so, in what way? I’m also wondering what’s the point of the pfblogs.org, if you don’t donate money to them? I signed up, but because I don’t give them money, I’m on the back page and my posts never get highlighted. Time to remove? Moving them to the footer sounds like a solution.
FAVORITE POSTS OF THE WEEK & CONTEST WINNERS:
* “Sunday Interview Series: Financial Samurai” by Elle from Couples Money. Elle has been such a helpful Twitter supporter of this site, thank you! It was fun to share some of my thoughts with you.
The Dow Jones Challenge Winners: Michael At DINKS Finance and Wojo from Fiscal Fizzle who guessed 10,300 and 10,322 respectively! The Dow closed this Black Friday -154 (-1.5%) to 10,309.92! Here’s your BIG pat on the back!
“The New Rules of Mortgages” Book Winners: Kelsey & Geek! Runners up: Chubbuni13, & Tina Fortune. Congrats! Also thanks to @Victoriahouse, @JoeTaxPayerBlog, @EvolutionWealth, @SweepStakesgirl for tweeting! Thanks to Dale for being a participant and offering an extra book for our readers if we reached 30 comments excluding hers. We didn’t, but with the Tweets, I think we did! As such, I will send you my own copy if Dale doesn’t send one, no problemo! Please e-mail your address for where I should send the books to.
Thanks everybody for writing some interesting pieces. And again, if you ever highlight anything of mine, please e-mail me at fs @ financialsamurai dot com so I can share my gratitude! Not showing my appreciation is dishonorable.
Keigu (“Regards” in Japanese),
Financial Samurai – “Slicing Through Money’s Mysteries”
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