Widget Image
Follow PPD Social Media
Wednesday, February 26, 2025
HomeStandard Blog Whole Post (Page 693)

consumer-spending-consumer-sentiment-reuters

(Photo: Reuters)

A closely-watched gauge of consumer sentiment from the University of Michigan rose to 93.1 in November from a final reading in October of 90. Economists anticipated a smaller rise to 91.5 for the month.

“Confidence rose in early November mainly due to a stronger outlook for the domestic economy. Overall, the most recent confidence reading was equal to the average during the first ten months of 2015, and higher than any year since 2004,” said Surveys of Consumers chief economist, Richard Curtin. “Two trends dominated the early November data: consumers anticipated somewhat larger income increases during the year ahead as well as expected a somewhat lower inflation rate.”

However, the Commerce Department reported on Friday that US retail sales rose less than expected in October and automobile purchases unexpectedly decline, indicating lower consumer spending in the fourth quarter.

“This meant that consumers held the most favorable inflation-adjusted income expectations since 2007. Moreover, the somewhat larger gains were anticipated by lower income households,” Curtin added. “Buying plans for large discretionary purchases improved, especially for vehicles. Overall, the data indicate an expected rate of growth in personal consumption expenditures of 2.9% in 2016.”

Preliminary Results for November 2015

Nov Oct Nov M-M Y-Y
2015 2015 2014 Change Change
Index of Consumer Sentiment 93.1 90.0 88.8 +3.4% +4.8%
Current Economic Conditions 104.8 102.3 102.7 +2.4% +2.0%
Index of Consumer Expectations 85.6 82.1 79.9 +4.3% +7.1%
Next data release: Wed, November 25, 2015 for Final November data at 10am ET

A closely-watched gauge of consumer sentiment from

retail-sales-shopper-reuters

A retail sales shopper. (Photo: Reuters)

The Commerce Department said on Friday that U.S. retail sales rose less than expected in October and automobile purchases unexpectedly decline, indicating lower consumer spending in the fourth quarter. Retail sales edged up 0.1% last month after being unchanged in September, though economists polled by Reuters had forecast retail sales gaining 0.3% in October after a previously reported 0.1% gain in September.

Sales at auto dealerships around the nation fell 0.5% after gaining 1.4% in September, which came as a surprise to many looking at the strong sales at motor vehicle manufacturers reported in October. Retail sales excluding automobiles, gasoline, building materials and food services ticked up 0.2% after an upwardly revised 0.1% increase in September.

These so-called core retail sales historically correspond most closely with the consumer spending component of gross domestic product, which represents roughly two-thirds of U.S. economic growth. Core retail sales previously were reported to have ticked down 0.1% last month, while economists had forecast core retail sales rising 0.4%.

The disappointing report suggests that savings from cheaper gasoline are being used to pay rental and other living costs, including health care and utilities, which have increased substantially over the past year. Still, weak consumer spending is unlikely alone to significantly weigh on the Federal Reserve as they decide the timing and trajectory of an interest rates next month. The U.S. central bank has kept its benchmark overnight interest rate near zero since December 2008, though wholesale producer prices showed inflation weakening again this month for the second straight report.

Economic growth slowed to a 1.5 percent annual pace in the third quarter, and is now expected to temper down in the fourth. Retail sales also were sliced off by a 0.9% decline in receipts at service stations, which was largely due to lower gasoline prices. Service station receipts fell 4.0% in September.

Clothing store receipts were flat last month, while building materials and garden equipment stores tacked on a 0.9% gain. Further, sales at furniture stores, sporting goods and hobby stores gained 0.4%, while sales at restaurants and bars posted a 0.5% gain.

Sales at electronics and appliance stores fell 0.4 %, while receipts at online stores increased 1.4%.

US retail sales rose less than expected

Producer-Prices

Producer Price Index (PPI): A worker in a wholesale foods production and distribution warehouse.

The Labor Department reported on Friday that their gauge of producer prices at the wholesale level (PPI) dropped 0.4% during the month of October. The Producer Price Index posted an unexpected decline compared to the 0.2% tick higher Wall Street forecast.

Economists polled by Reuters had forecast the PPI rising 0.2 percent last month and dropping 1.2 percent from a year ago. A key measure of underlying producer price pressures that excludes food, energy and trade services fell 0.1% after declining 0.3% in the month prior. The so-called core PPI was up 0.4% in the 12 months through October.

Excluding the volatile food and energy components, prices declined 0.3%, compared to expectations for a 0.1% increase. U.S. producer prices have dropped now for a second straight month and the cost of services fell, indicating weak inflation pressures that could stifle the Federal Reserve raising interest rates next month.

October also marked the ninth straight 12-month decrease in the index, and services accounted for 70% of the decline in the PPI. Services fell 0.3% after falling 0.4% in September.

The Labor Department reported on Friday that

Jihadi-John-Mohamed-Emwazi

Mohamed Emwazi, a.k.a. Jihadi John, was reportedly killed in a drone strike in Raqqa, Syria on Nov. 12, 2015. (Photos: Rowan Griffiths/AP)

A Pentagon official said late Thursday it targeted and likely killed ISIS executioner and British national Mohamed Emwazi, also known as “Jihadi John” in Raqqa, Syria. Emwazi was seen in videos depicting the beheading of hostages held by ISIS.

Pentagon spokesman Peter Cook confirmed the airstrike targeted the infamous Islamic militant and executioner, but Fox News reported a senior U.S. military official said “we are 99 percent sure we got him.” The Pentagon is still working to confirm the strike was successful, though PPD can confirm it was a drone that was used in the airstrike, which was tracking Emwazi for the vast majority of the day on Thursday as he met with fellow Islamists in the ISIS stronghold.

The source told Fox that the strike was ordered shortly after Emwazi came out of a building in Raqqa, when he was “ID’d and engaged.”

Emwazi beheaded American journalists Steve Sotloff and James Foley, as well as American aid worker Abdul-Rahman Kassig and British aid workers David Haines and Alan Henning. He also executed and beheaded Japanese journalist Kenji Goto, and a number of other hostages using a large knife in the videos where he appeared as a masked militant in black and speaking in a British accent.

Emwazi was identified as “Jihadi John” last February, although a lawyer who once represented Emwazi’s father told reporters that there was no evidence supporting the accusation. Experts and others later confirmed the identification.

British Prime Minister David Cameron’s office said he will make a statement later Friday. The statement said, “We have been working hand in glove with the Americans to defeat ISIL and to hunt down those murdering hostages. The Prime Minister has said before that tracking down these brutal murderers was a top priority.”

Emwazi was born in Kuwait and spent part of his childhood in the poor Taima area of Jahra before moving to Britain while still a boy, according to news reports quoting Syrian activists who knew the family. He attended state schools in London, then studied computer science at the University of Westminster before leaving for Syria in 2013. The woman who had been the principal at London’s Quintin Kynaston Academy told the BBC earlier this year that Emwazi had been quiet and “reasonably hard-working.”

Officials said Britain’s intelligence community had Emwazi on its list of potential terror suspects for years but was unable to prevent him from traveling to Syria. However, was reportedly stopped at the airport in Dar-es-Salaam and was refused entry into Tanzania six years ago because he was drunk and abusive.

Mathias Chikawe, Tanzania’s home affairs minister, said Emwazi and two friends were turned away in 2009 because they were “very drunk.”

“They were refused entry because they disembarked from the plane very drunk,” Mr Chikawe said. “They were insulting our immigration staff and other people.”

At the time, he was on the intel communities’ radar because of his connection to investigations into acts of terrorism in Somalia.

The beheading of Foley, 40, of Rochester, New Hampshire was released on Aug. 19, 2014. It preceded the release of videos the following month showing the beheadings of Sotloff and Haines and, then in October, Mr. Henning.

A Pentagon official said late Thursday it

Alan Dershowitz, the famed liberal law professor and author, told Megyn Kelly Thursday night that the “fog of fascism is descending on many American universities” around the nation. Leftwing movements have broken out at the University of Missouri, Yale University and other institutions that claim campuses aren’t “safe spaces” of learning but racially insensitive.

Alan Dershowitz, the famed liberal law professor,

FOX Business Debate Presidential Candidates

Ted Cruz speaks while Marco Rubio, Donald Trump, Ben Carson, Carly Fiorina and Rand Paul take part in the Republican presidential debate hosted by FOX Business Network. (Photo: Getty Images)

I get the feeling that the Republican presidential field is gradually beginning to narrow and that we will see interesting dynamics among the principal survivors.
I would be shocked if John Kasich moved up, because he has demonized conservatism itself and tried to shame conservatives, hinting that he’s a more compassionate practitioner. He exudes an impatience that voters don’t recognize his superior goodness and competence.

Rand Paul is an accomplished retail politician and an admirable budget hawk. His fatal disability, though, is on foreign policy. Though probably not an isolationist, he has far too small an appetite for national defense spending, and if there’s one thing most conservatives believe, it is that we must allocate sufficient resources to remain the strongest nation in the world and thus ensure our national security. To answer Paul’s question: Defense spending is conservative because it is one of the responsibilities the Constitution assigns to the federal government.

Jeb Bush, as decent as he is, is not making his case. He needed to show why the country needs him, but he has chosen instead to tell us how Florida needed him years ago and why he is the guy who can unite America in bipartisan kumbaya. His problem is that Republican voters understand that the Democratic Party has no interest in working with us and that even if it did, our worldviews are so different that compromise might retard our national demise but not prevent it. The winning candidate will be one who denounces President Obama’s destruction and offers a believable plan to reverse our national nightmare.

Donald Trump appears to be evolving as a candidate in exercising more restraint and avoiding personal skirmishes with other candidates. He will still bite back, as he did with Kasich, but not so reflexively or frequently. You’ll note that though he piled on Carly Fiorina for interrupting, he only complained after someone else did. Trump’s maturation will make it more difficult for his critics to dismiss him as cartoonish.

Trump’s subtle evolution could be related to Ben Carson’s rise and the media’s shifting focus to bringing him down. The media vultures are out in full force circling over Carson, hoping they can make him into the next unelectable buffoon. They aren’t even concealing their motive to influence events rather than merely report them. What they don’t realize is that their assassination effort is the very type of behavior that is fueling Carson’s (and Trump’s) campaign. It also doesn’t help them that Carson is not taking the bait. Carson’s surgical unflappability is serving him well.

In the two most recent debates, Ted Cruz and Marco Rubio have nudged themselves up, both being extremely articulate and full of fight and energy. Though neither has moved into the Trump/Carson level, many observers believe that the race will eventually be between these two, once the inevitable implosion of Trump and Carson has occurred.

Note that I am not predicting this implosion, but I’m hearing it from people who cannot imagine that either of these two political neophytes will be the last man standing in the GOP contest. I admit I initially had my doubts that either could end up the nominee, but I don’t see how anyone could dismiss that possibility now.
It’s going to be very difficult for the media to take Trump and Carson out; they’ve been firing their heavy artillery and done little damage. That task is now left to the GOP competitors, and the campaign will reach a new level of intensity when that phase begins.

So far, Cruz and Rubio have been restrained in their attacks on other candidates, but at some point, they will probably have to take aim and distinguish themselves from the top two and from each other. Cruz, in my view, is the closest to Reagan conservatism. Rubio is very impressive, but he will have problems with the base unless he can satisfy it on immigration, and lately he seems to have lost even more ground on that issue.

So as the campaign progresses, we are likely to see one or both of them making a move on the front-runners, not necessarily because the top two will naturally slide but because Cruz and Rubio will be forced to distinguish themselves on policy and presidential ability from Trump and Carson. I believe that Cruz and Rubio will be very careful not to offend Trump or Carson or the supporters of the front-runners, but I don’t think either will show similar restraint toward each other as the race unfolds. My guess is that Cruz will hit Rubio hardest on immigration and that Rubio will hit Cruz hardest on his alleged inability to work well with others.

I don’t know how anyone could confidently predict the ultimate nominee, but I expect it to be one of these four, though Fiorina could still surprise us, and even if she doesn’t make the top tier, she may well end up being someone’s VP pick.

Republicans should be encouraged and invigorated by the depth and impressiveness of their field and by the abundant enthusiasm among these competitors and all other patriots for taking our nation back.

Limbaugh: I get the feeling that the

[brid video=”19900″ player=”1929″ title=””Its Offensive!” Ted Cruz Defends Conservative Position on Illegal Immigration Rule of Law”]

Texas Sen. Ted Cruz, now a top-tier Republican presidential candidate, defended the conservative position on illegal immigration based on the rule of law.

“And I will say for those of us who believe people ought to come to this country legally and we should enforce the law, we’re tired of being told, it is anti-immigrant. It’s offensive,” Cruz said at FOX Business’ debate on Tuesday night. “I am the son of an immigrant who came legally from Cuba to seek the American dream.,” he said. “And we can embrace legal immigration while believing in the rule of law.”

TRANSCRIPT

I wanna go back to the discussion we had a minute ago because you know what was said was right, the Democrats are laughing because if Republicans joined Democrats as the party of Amnesty we will lose. And you know, I understand that when the mainstream media covers immigration, it doesn’t often see it as an economic issue, but I can tell you for millions of Americans at home watching this, it is a very personal economic issue. And I will say the politics of it would be very, very different if a bunch of lawyers are bankers were crossing the Rio Grande. Or if a bunch of people with journalism degrees were coming over and driving down the wages in the press. Then we would see stories about the economic calamity that is befalling our nation.

And I will say for those of us who believe people are to come to this country legally and we should enforce the law, we’re tired of being told it’s anti-immigrant. It’s offensive! I am the son of an immigrant who came legally from Cuba to seek the American Dream. And we can embrace legal immigration while believing in the rule of law and I would note: Try going illegally to another country, try going to China or Japan, try going to Mexico. See what they do. Every sovereign nation secures its borders and it is not compassionate to say we’re not going to enforce the laws and we’re going to drive down the wages for millions of hardworking men and women. That is abandoning the working people.

Texas Sen. Ted Cruz, now a top-tier

Hillary-Clinton-Bernie-Sanders

Vermont socialist Sen. Bernie Sanders, left, and former Secretary of State Hillary Clinton, right. (Photo: AP)

The 200,000-strong American Postal Workers Union has endorsed the self-proclaimed socialist Vermont senator Bernie Sanders in his bid for the Democratic nomination against former secretary of state and frontrunner Hillary Clinton. The endorsement not only marks the biggest for Sanders but also is only his second since the 185,000-member National Nurses Union.

“Sen. Bernie Sanders stands above all others as a true champion of postal workers and other workers throughout the country,” APWU President Mark Dimondstein said in a statement. “He doesn’t just talk the talk. He walks the walk.”

The postal workers union said Sanders has a long track-record of backing its workers. The union noted Sanders’ push to keep open post offices and mail-sorting plants in rural communities during a time when even lawmakers his own party were open to cutting costs. He also opposed attempts to privatize the mail service to reshape it into a more productive operation on the model of its more efficient and profitable private sector counterparts.

The union said they made their decision after his address to 2,000 activists in Las Vegas in October. But, while in the U.S. Senate, Sanders blocked two nominees to the postal Board of Governors who were opposed by the postal unions.

Support for Sanders on the American Postal Workers Union executive board, which also heard from a labor liaison from Clinton’s campaign, was reportedly overwhelming.

The 200,000-strong American Postal Workers Union endorsed

Missouri-journalism-professor-Melissa-Click

Melissa Click, a professor at Mizzou’s Department of Communications, was among those who were harassing and blocking reporters during the protests on the University of Missouri campus Monday. She has since resigned. (Photo: Video Screenshot)

Well, so much for the First Amendment. Tossing sanity to the wind, college kids behaving as Marxists at so-called places of higher learning around the nation have broken free their classroom constraints to wander their various respective campuses, bullhorns in hand, and call for a stop to such offenses as wearing politically incorrect Halloween costumes, or for the forced removal of journalists covering – gasp – news events.

And that latter, no less, from the ridiculous lips of now-resigned University of Missouri journalism professor, Melissa Click, who underscored her rally demand of a reporter to exit the publicly-funded campus, stage right, with a plea for “muscle.” What was her plan? Tar and feather the legally entitled guy, simply because he dared cross her self-declared media safe zone? No wonder media these days is so shabby. Journalists are being trained by idiots like Click – who didn’t even lose her campus paycheck, but rather given another position at another department at Mizzou.

She’s hardly the only idiot in the campus ring right now, however.

While the University of Missouri protesters revel in their successful ouster of both president and chancellor from their jobs, and push forward a list of demands that includes diversity training with an emphasis on more blacks, fewer whites, in campus positions of power, Black Lives Matter-like movements are springing up at colleges across the nation.

[brid video=”19897″ player=”1929″ title=”Missouri Professor Among Those Harassing Accosting Student Journalists at Mizzou Protest”]

 

The junior class president of Claremont McKenna College in California resigned over a controversy generated by a Facebook photograph that showed her posing alongside two women decked in sombreros, ponchos and mustaches – Halloween costumes. The campus, shortly after, ignited in protests. Yale students are still upset over their own campus Halloween costume flap, as well as at an overheard comment about a “white girls only” planned fraternity party at an off-campus location.

At Ithaca College, hundreds of students swarmed their own campus lawns to demand the resignation of their own president, Tom Rochon, who apparently didn’t express the proper level of outrage when a couple of white alumni called a black alumna a “savage.” Or in Massachusetts, students at Smith College in Northampton rallied to show solidarity with their beleaguered brothers and sisters at Ithaca and Missouri. And at the University of Kansas, administrators felt the need to take preemptive measures and set up a town meeting to let students air any grievances they might have, all in hopes of appeasing the masses before they stumbled on their own cause to protest.

The analogy of the inmates running the asylum is not a far reach here. Let’s not forget, the main issue with these Marxists is somebody said something or wore something that hurt their feelings. And that, my friend, is called a First Amendment right.

Don’t these college educated understand where their lunacy is headed? Can’t they see the not-so-distant results of their calls to clamp free speech? Even worse, some of these racially tainted events and occurrences may not even have happened. The fact the campus president of Missouri and the chancellor would fold so quickly and quit is alarming, as it only fuels the thuggery, emboldens the protesters and mocks a rule of law that’s supposed to be based on innocence until proven guilty.

Coincidentally enough, there’s a death this week that casts an insightful light on the state of America’s college campuses and where this protest path leads. It’d be a good idea to distribute the obituary among these protesters.

Andre Glucksmann, a French philosopher who renounced Marxism in the 1970s and then became one of the country’s leading intellectuals in the fight against leftist politics, died Tuesday. Interesting to note, he was thick in the middle of stirring the college campus chaos and uprising of the late 1960s, serving as both teacher and militant Marxist at Paris universities, while urging students to rebel, revolt and demand change.

He later became a Maoist. Violence on the part of his cohorts — Ms. Click, are you listening? — turned his stomach against his red leanings, though, and he soon shed his Marxism and began issuing scathing attacks against the very ideals he once held, and the very colleagues he once worked with and supported.

“It was Andrea Glucksmann who dealt the decisive blow to communism in France,” a French radio announcer said, of his death.

“He was a passionate defender of the super-oppressed,” another commentator said, the New York Times reported. “When he turned against communism, it was because he realized that communists were not on the same side.”

His life story could serve as both hope and warning on college campuses in America right now. Only problem is: who’s listening?

[mybooktable book=”police-state-usa-how-orwells-nightmare-is-becoming-our-reality” display=”summary” buybutton_shadowbox=”true”]

College kids behaving as Marxists at University

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial