Empty Costco

[Omega Point]

“I think consumer spending is hanging in there. I can’t explain why.”

Simple, because the vast majority of consumers have jobs. Until that changes, they’ll keep on spending. Perhaps the housing recession will lead to an economic recession and people will begin to lose their jobs. Until then, I highly doubt people will stop spending.

[LostCat]

The spigot will be tightened very tight over the next couple of years. Creditors will increase Credit Card rates to back fill their losses in the housing market, making it even more impossible for credit whores to pay down their debt.

I spoke to an older neighbor yesterday and she was explaining to me how much things have changed. When she and her husband bought their house in 1955, they put 50% down and paid it off in 10-years. They never used credit cards. People who drove fancy cars were rich. They owned their cars and were not making payments every month. She said, it’s obvious, those that look rich today are really only up to their eyebrows in credit debt and will never be able to retire.

It made me think, ouch!! America has built a pyramid scheme on credit. Now that the one cash cow, the house, is maxed out. All the other lambs are going to come calling. In other words, if you owe, you are going to owe even more over the next few years. If you cannot make your payments now, just wait. This pyramid scheme is collapsing.

A statement from a friend of mine that manages one of the Westfield Shopping Centers here in SD told me last night over the phone that he has never seen such a significant drop in retail sales at a shopping center than what he has seen in the last two month at his.

So yes, the siphon is slowly being cut. If you were a surfer waiting for a wave, and the wave being the housing and economy crash, the wave would just being reaching visibility on the horizon. Just before the point where you start to paddle towards the wave so that you are in a position where it won’t crash. So I would think that in the next 6 months, the wave will be starting to stand up and if you don’t know how to surf (you don’t have real cash savings, under you mattress), you’re going to end up like Eddy. You did it and didn’t make it home to talk about it.

[LostCat]

The spigot will be tightened very tight over the next couple of years. Creditors will increase Credit Card rates to back fill their losses in the housing market, making it even more impossible for credit whores to pay down their debt.

I spoke to an older neighbor yesterday and she was explaining to me how much things have changed. When she and her husband bought their house in 1955, they put 50% down and paid it off in 10-years. They never used credit cards. People who drove fancy cars were rich. They owned their cars and were not making payments every month. She said, it’s obvious, those that look rich today are really only up to their eyebrows in credit debt and will never be able to retire.

It made me think, ouch!! America has built a pyramid scheme on credit. Now that the one cash cow, the house, is maxed out. All the other lambs are going to come calling. In other words, if you owe, you are going to owe even more over the next few years. If you cannot make your payments now, just wait. This pyramid scheme is collapsing.

A statement from a friend of mine that manages one of the Westfield Shopping Centers here in SD told me last night over the phone that he has never seen such a significant drop in retail sales at a shopping center than what he has seen in the last two month at his.

So yes, the siphon is slowly being cut. If you were a surfer waiting for a wave, and the wave being the housing and economy crash, the wave would just being reaching visibility on the horizon. Just before the point where you start to paddle towards the wave so that you are in a position where it won’t crash. So I would think that in the next 6 months, the wave will be starting to stand up and if you don’t know how to surf (you don’t have real cash savings, under you mattress), you’re going to end up like Eddy. You did it and didn’t make it home to talk about it.

[LostCat]

The spigot will be tightened very tight over the next couple of years. Creditors will increase Credit Card rates to back fill their losses in the housing market, making it even more impossible for credit whores to pay down their debt.

I spoke to an older neighbor yesterday and she was explaining to me how much things have changed. When she and her husband bought their house in 1955, they put 50% down and paid it off in 10-years. They never used credit cards. People who drove fancy cars were rich. They owned their cars and were not making payments every month. She said, it’s obvious, those that look rich today are really only up to their eyebrows in credit debt and will never be able to retire.

It made me think, ouch!! America has built a pyramid scheme on credit. Now that the one cash cow, the house, is maxed out. All the other lambs are going to come calling. In other words, if you owe, you are going to owe even more over the next few years. If you cannot make your payments now, just wait. This pyramid scheme is collapsing.

A statement from a friend of mine that manages one of the Westfield Shopping Centers here in SD told me last night over the phone that he has never seen such a significant drop in retail sales at a shopping center than what he has seen in the last two month at his.

So yes, the siphon is slowly being cut. If you were a surfer waiting for a wave, and the wave being the housing and economy crash, the wave would just being reaching visibility on the horizon. Just before the point where you start to paddle towards the wave so that you are in a position where it won’t crash. So I would think that in the next 6 months, the wave will be starting to stand up and if you don’t know how to surf (you don’t have real cash savings, under you mattress), you’re going to end up like Eddy. You did it and didn’t make it home to talk about it.

[cyphire]

I agree…. I’m already seeing it.

Costco was somewhat empty compared to usual.

I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.

Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.

I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.

The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.

[cyphire]

I agree…. I’m already seeing it.

Costco was somewhat empty compared to usual.

I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.

Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.

I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.

The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.

[cyphire]

I agree…. I’m already seeing it.

Costco was somewhat empty compared to usual.

I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.

Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.

I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.

The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.

[condogrrl]

I was at Mission Valley Costco today about 1pm. The parking lot was absolutely full of cars, all the way from Costco to Ikea. I’ve never seen so many cars there on a weekday. As I trekked into the store from my faraway parking place all I could think of was “what would the piggington people have to say about this?”

[condogrrl]

I was at Mission Valley Costco today about 1pm. The parking lot was absolutely full of cars, all the way from Costco to Ikea. I’ve never seen so many cars there on a weekday. As I trekked into the store from my faraway parking place all I could think of was “what would the piggington people have to say about this?”

[condogrrl]

I was at Mission Valley Costco today about 1pm. The parking lot was absolutely full of cars, all the way from Costco to Ikea. I’ve never seen so many cars there on a weekday. As I trekked into the store from my faraway parking place all I could think of was “what would the piggington people have to say about this?”

[gracie]

I have noticed the same thing in stores….
A relative of mine works for Wachovia Securities…I was told he has been putting in exta long hours because his clients have been so nervous.

[gracie]

I have noticed the same thing in stores….
A relative of mine works for Wachovia Securities…I was told he has been putting in exta long hours because his clients have been so nervous.

[gracie]

I have noticed the same thing in stores….
A relative of mine works for Wachovia Securities…I was told he has been putting in exta long hours because his clients have been so nervous.

[temeculaguy]

I think the costco barometric economic indicator is a flawed system. I think I have shopped there regularly since 1985 when I knew of only one (Price club at the time) on Morena. I have never been able to guage economic activity by seeing people buy staples at a specific time at a specific location. Even during those 22 years I have had good and bad financial times and still managed enough money to buy toilet paper at costco. I think when I was at my poorest I may have shopped there even more, forgoing other luxuries yet maintaining food and toiletries as my little treat.

I think foreclosures are the best indicator, maybe luxury cars, boats and recreational vehicles will give you some insight but not things that people will always buy. I don’t think the majority of the people out there took their heloc to costco, they bought toy haulers, jet skis, implants, granite counters, etc. If you want the man/woman on the street info I would gladly hang out at the local plastic surgeon’s waiting room and strike up a conversation with the waiting patients but the office staff threatened to get a restraining order against me if I keep doing it.

[temeculaguy]

I think the costco barometric economic indicator is a flawed system. I think I have shopped there regularly since 1985 when I knew of only one (Price club at the time) on Morena. I have never been able to guage economic activity by seeing people buy staples at a specific time at a specific location. Even during those 22 years I have had good and bad financial times and still managed enough money to buy toilet paper at costco. I think when I was at my poorest I may have shopped there even more, forgoing other luxuries yet maintaining food and toiletries as my little treat.

I think foreclosures are the best indicator, maybe luxury cars, boats and recreational vehicles will give you some insight but not things that people will always buy. I don’t think the majority of the people out there took their heloc to costco, they bought toy haulers, jet skis, implants, granite counters, etc. If you want the man/woman on the street info I would gladly hang out at the local plastic surgeon’s waiting room and strike up a conversation with the waiting patients but the office staff threatened to get a restraining order against me if I keep doing it.

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