The latest news is Best Buy’s (BBY) profitless prosperity. This shows that the consumer is still pulling out the pocketbook - but only when there is a good deal. With home theater equipment now being offered at low sale prices and with no-interest until 2010 credit offers, it is little wonder profits are getting tight. (Although the consumers should consider that with LCD prices falling 35% per year, zero percent interest is still usurious in real terms!)
- As positive a spin as many try to put on it, job growth looks like it is weakening to us.
- Housing prices continue to decline.
- Gas prices are still higher than they were a year ago, and could be having a cumulative impact.
Granted, this is all still anecdotal. But the anecdotes are piling up.