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hegemony

Economy Watch Thread

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44 minutes ago, creditmaze said:

I remember Mervyn's in our neighborhood but they went out of business during the Great Recession. They had a great buyer in the clothing dept at our store. Classic timeless career apparel. Now it's replaced with Kohls and sub standard in my opinion.

 

 

I don't think I ever bought anything at Mervyn's, but didn't they have a similar pricing strategy as Kohl's (price items way above retail and then start the "40% off everything" nonsense and then layer in a bunch of stackable coupons that finally brought the price of an item worth $15 down from $50 to $18)?

 

When the liquidators took over they marked everything down by just 20% and people were strangling each other in order to fill their carts with acrylic sweaters and animal print bathroom rug sets.

 

71Qyf+TIzAL._AC_SX522_.jpg

 

 

 

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53 minutes ago, cv91915 said:

I don't think I ever bought anything at Mervyn's, but didn't they have a similar pricing strategy as Kohl's (price items way above retail and then start the "40% off everything" nonsense and then layer in a bunch of stackable coupons that finally brought the price of an item worth $15 down from $50 to $18)?

 

When the liquidators took over they marked everything down by just 20% and people were strangling each other in order to fill their carts with acrylic sweaters and animal print bathroom rug sets.

 

71Qyf+TIzAL._AC_SX522_.jpg

 

 

 

Hmmm no not really. The only thing I've bought at Kolhs are slippers in black. Their clothes for women with big loud prints are like nails on a chalkboard to me.

 

Before Covid-19 I enjoyed scoring a gem at Marshall's but that entails a lot of time sifting through the Sponge Bob attire.

Edited by creditmaze
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1 hour ago, cv91915 said:

Agreed, but Ross is also mentioned in the article.  They can rot in Hell.

 

I wrote them off when I found a pair of Spongebob Squarepants boxer shorts that had two price tags: one from Ross and one from Walmart. 

 

The Walmart tag had a lower price.  Never went back into a Ross store.

Now my husband sitting across from me wants to know...were you actually shopping for Spongebob  Squarepants boxers??!! My husband's discerning taste goes the way of Jedi vs Sith boxers. But hey, to each his own. 😉

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1 hour ago, creditmaze said:

Hmmm no not really. The only thing I've bought at Kolhs are slippers in black. Their clothes for women with big loud prints are like nails on a chalkboard to me.

 

Before Covid-19 I enjoyed scoring a gem at Marshall's but that entails a lot of time sifting through the Sponge Bob attire.

All of my flannel lounge pants are from Kohl's. 

 

When they transition from winter clothing to spring, they practically give these things away (sub-$3 range, if I recall correctly).  I miss FatWallet Forums.  That's how I'd find out about this stuff, and that tells you how long it's been since I've replenished my flannel collection.  😛 

 

I need a backup carry-on bag, so once everything opens back up I'll be at Marshalls pawing through the Nautica and Diane Von Furstenberg collections until I locate the one quality piece in the tri-county area. 

 

Even then I'll secretly know that I burned more in gas than I saved on the luggage.

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45 minutes ago, cv91915 said:

All of my flannel lounge pants are from Kohl's. 

 

When they transition from winter clothing to spring, they practically give these things away (sub-$3 range, if I recall correctly).  I miss FatWallet Forums.  That's how I'd find out about this stuff, and that tells you how long it's been since I've replenished my flannel collection.  😛 

 

I need a backup carry-on bag, so once everything opens back up I'll be at Marshalls pawing through the Nautica and Diane Von Furstenberg collections until I locate the one quality piece in the tri-county area. 

 

Even then I'll secretly know that I burned more in gas than I saved on the luggage.

I bought a carryon at Marshall's sometime back since my old carryon was 1" too wide for the airlines. Price was fair at $59. 

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Watching Jim Cramer interviewing Sec. Mnuchin on CNBC

 

FIFTY year Treasuries, Cramer?? YGBSM! Then Mnuchin comes back with "Buy a 30 year and a 20 year, that'll be a 50 year" - tongue had to be firmly in cheek for that one.

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And there is Terra Thomas, a florist in Oakland, Calif., who could pay her April rent with savings if she wanted but has decided to withhold the $833 she pays for her studio. With her usually busy wedding season shaping up to be grim, she’d rather conserve her money than pay bills now.

 

 

 

 

hard to dispute this from the comments "Why don't landlords have three months worth of expenses saved in case of a rainy day? Why don't they just go out and get a second job to help pay the costs of their properties? Why don't they tighten their belts and forego luxuries like avocado toast and five-dollar lattes? "

Edited by hegemony

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2 hours ago, hegemony said:

 

Change the header to "MAY qualify" and I have no qualms with the article.  (A friend forwarded the article to me earlier this am, knowing that I typically actively play in casinos 400+ hr annually.)

 

There's nothing in the article to substantiate such qualification, merely speculation that it may be possible.  My guess has been that gaming pros face an uphill climb to qualify for benefits -- although having a record of the IRS accepting related tax deductions on their returns (a tough hurdle) is a good first evidentiary step.

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2 hours ago, hegemony said:

And there is Terra Thomas, a florist in Oakland, Calif., who could pay her April rent with savings if she wanted but has decided to withhold the $833 she pays for her studio. With her usually busy wedding season shaping up to be grim, she’d rather conserve her money than pay bills now.

 

 

 

 

hard to dispute this from the comments "Why don't landlords have three months worth of expenses saved in case of a rainy day? Why don't they just go out and get a second job to help pay the costs of their properties? Why don't they tighten their belts and forego luxuries like avocado toast and five-dollar lattes? "

The thing driving me crazy about this whole broader issue of rent and landlords etc is that everyone is acting like x amount of people decided to eff their landlords over when the economy is actually frozen.

We knew people wouldn't be able to pay rent, and no one did something. It's like every link in the chain expects someone else to figure out how we're going to do this, and everyone acts shocked when the first default domino falls. There was obviously only one real way for this not to happen (what the UK and Canada did) and we just flaked out on it, so this was inevitable. 

 

49 minutes ago, hdporter said:

 

Change the header to "MAY qualify" and I have no qualms with the article.  (A friend forwarded the article to me earlier this am, knowing that I typically actively play in casinos 400+ hr annually.)

 

There's nothing in the article to substantiate such qualification, merely speculation that it may be possible.  My guess has been that gaming pros face an uphill climb to qualify for benefits -- although having a record of the IRS accepting related tax deductions on their returns (a tough hurdle) is a good first evidentiary step.

Agggh, major pet peeve. Articles with a deliberately misleading headline.

Edited by smartlypretty
thought of more stuff i wanted to say

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9 hours ago, hegemony said:

And there is Terra Thomas, a florist in Oakland, Calif., who could pay her April rent with savings if she wanted but has decided to withhold the $833 she pays for her studio. With her usually busy wedding season shaping up to be grim, she’d rather conserve her money than pay bills now.

 

 

 

 

hard to dispute this from the comments "Why don't landlords have three months worth of expenses saved in case of a rainy day? Why don't they just go out and get a second job to help pay the costs of their properties? Why don't they tighten their belts and forego luxuries like avocado toast and five-dollar lattes? "

I have a reserve fund that will last more than three months. Quite a few of my tenants have been unable to pay rent already. I’ve told my tenants that they are not to choose between essentials and rent. It’s more important for them to have food and necessary items for their families.
 

That said, I have issues with the quote above. If lower-income people are getting stimulus checks and increased unemployment benefits, and most businesses qualify for forgivable loans, why should I be expected to “go out and get a second job?” Seems like a double standard. Besides for many, many landlords, being a landlord is a full time job. That wouldn’t leave time to work elsewhere to make up lost income while also performing the necessary tasks for maintaining their rentals. 

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