I threw an impromptu garage sale today piggybacking on my neighbor's sale. Our signs boasted "2 Sales" suggesting bountiful synergy.
But the bottom line is that even in Michigan's dismal economy, I cannot compete with China. I cannot compete with the dollar store (also China). I cannot compete with Walmart (China). And Ann Arbor's Salvation Army Store is in a wholly other league.
My neighbor and I had assorted goods--furniture, toys, electronics, guy-oriented gadgets, sporting goods, bizarre kitsch, flower vases, small appliances, clothing, a few books. We were not skewed toward any typical garage sale demographic (single mothers, young mothers, new mothers, marginally employed immigrants, retired couples, college students, laid-off workers, professional resale "cherry pickers," mothers with small children looking for a cheap Saturday activity, elderly survivors of the Great Depression, the nattily dressed luxury car drivers). We were not overpriced.
What can you learn from a garage sale? Is it in any way an informative economic indicator? On a microeconomic level, yes. Things are only worth what someone will pay for them. And expectations in the United States have been conditioned by abundant, cheap things made in China. Shoppers wanted to pay 25 cents for things that would command $25 in a discounted retail environment. And when asked if they could go to 50 cents they balked. Was 50 cents really too much for them? After all, Michigan's economy is in dire straights. Were they hoping that I needed to sell these things, so they could get a mean bargain? Did they need me to be more desperate to sell than they were to purchase?
Monday, I will take all that remains to the Salvation Army where I will be compensated with a receipt for tax purposes. Next time, I will skip the nickel and diming and just go for the tax receipt.
Showing posts with label global village. Show all posts
Showing posts with label global village. Show all posts
Saturday, July 28, 2007
Thursday, July 26, 2007
Consumer Confidence in the Global Village
The University of Michigan Institute for Social Research has been conducting consumer surveys since 1946. Earlier this year, UM entered a partnership with Reuters to disseminate the results of their consumer surveys. The gold standard of such surveys, the Index of Consumer Expectations portion is an official component of the U.S. Index of Leading Economic Indicators.
The final numbers for July are due out tomorrow morning. Drum roll please. The preliminary numbers for July were unexpectedly high--92.4 up from 85.3 in June. But domestic economic news has been mixed in the meantime.
On Tuesday Countrywide Financial Corp., the nation's largest mortgage lender, reported a 33% drop in second quarter net income. It also reported that prime borrowers are showing payment difficulties on home equity credit lines.
At 3:30 today, the Dow was down by 350 points, with analysts citing concerns about credit as catalyst for the meltdown. And this had a global impact, as the SanDiego Tribune online site reports:"The declines triggered a global sell-off in stocks, causing minor losses in Europe to accelerate rapidly along with the Dow's drop. In Europe, Britain's FTSE 100 closed down 3.15 percent, Germany's DAX index dropped 2.39 percent, and France's CAC-40 fell 2.78 percent."
To prepare for Friday's release, have a look consumer and business confidence assessments from the global village:
South Africa--Consumer Confidence Still Positive-MasterIndex survey commissioned by Mastercard.
India--India Tops Consumer Confidence Index--AC Nielsen survey for the first half of 2007.
Turkey--Consumer Confidence Drops by .82%--survey by Turkstat and the Central Bank of Turkey.
China--Consumer Confidence Rebounds in July--survey by Xinhua Finance and eziData.
Germany--Business Confidence Falls Slightly in July--survey by Ifo, Munich.
France--Business Confidence Near Six Year High--from Insee, Paris-based national statistics office.
The official release of the Reuters/UM Consumer Confidence Index is around 10a.m. Brace yourself.
The final numbers for July are due out tomorrow morning. Drum roll please. The preliminary numbers for July were unexpectedly high--92.4 up from 85.3 in June. But domestic economic news has been mixed in the meantime.
On Tuesday Countrywide Financial Corp., the nation's largest mortgage lender, reported a 33% drop in second quarter net income. It also reported that prime borrowers are showing payment difficulties on home equity credit lines.
At 3:30 today, the Dow was down by 350 points, with analysts citing concerns about credit as catalyst for the meltdown. And this had a global impact, as the SanDiego Tribune online site reports:"The declines triggered a global sell-off in stocks, causing minor losses in Europe to accelerate rapidly along with the Dow's drop. In Europe, Britain's FTSE 100 closed down 3.15 percent, Germany's DAX index dropped 2.39 percent, and France's CAC-40 fell 2.78 percent."
To prepare for Friday's release, have a look consumer and business confidence assessments from the global village:
South Africa--Consumer Confidence Still Positive-MasterIndex survey commissioned by Mastercard.
India--India Tops Consumer Confidence Index--AC Nielsen survey for the first half of 2007.
Turkey--Consumer Confidence Drops by .82%--survey by Turkstat and the Central Bank of Turkey.
China--Consumer Confidence Rebounds in July--survey by Xinhua Finance and eziData.
Germany--Business Confidence Falls Slightly in July--survey by Ifo, Munich.
France--Business Confidence Near Six Year High--from Insee, Paris-based national statistics office.
The official release of the Reuters/UM Consumer Confidence Index is around 10a.m. Brace yourself.
Thursday, July 12, 2007
The World is Not Flat
Gas prices in Michigan are the highest in the nation. According to a brief Detroit News article, the reason is our unique geography. Michigan is a peninsula at the "northern end of the country," placing the state at the end of pipelines. I'm sorry. I don't buy that. Why doesn't everything in Michigan cost more then?
Lots of products are shipped to every stinking inch of the US and the prices are fixed at "suggested retail" amounts. They may be priced higher or lower at the discretion of a store, but could all be sold for the same price. And think of all the cheap products from China. In addition to being shipped to our peninsula at the northern end of the country, they first travel thousands of miles from China.
Take a look at the USA National Gas Temperature Map at GasBuddy.com and see if you can discern a pricing pattern based on geographic remoteness. I just don't see it. As for remote northern peninsulas, what about northernmost Maine?
Gas prices are the highest in Michigan, because they can be. Flatworld technology can't save you, where gas is concerned. Go ahead try to network or blog your way to cheaper gas. You can't because you live in Michigan--a peninsula in space and time and your car's wheels roll on the terra firma portion of the sphere we call home.
Lots of products are shipped to every stinking inch of the US and the prices are fixed at "suggested retail" amounts. They may be priced higher or lower at the discretion of a store, but could all be sold for the same price. And think of all the cheap products from China. In addition to being shipped to our peninsula at the northern end of the country, they first travel thousands of miles from China.
Take a look at the USA National Gas Temperature Map at GasBuddy.com and see if you can discern a pricing pattern based on geographic remoteness. I just don't see it. As for remote northern peninsulas, what about northernmost Maine?
Gas prices are the highest in Michigan, because they can be. Flatworld technology can't save you, where gas is concerned. Go ahead try to network or blog your way to cheaper gas. You can't because you live in Michigan--a peninsula in space and time and your car's wheels roll on the terra firma portion of the sphere we call home.
Friday, July 6, 2007
Tabloid News from Michigan
Michigan man arrested, accused of selling pot from company ice cream truck (France) Did you ever get a funny feeling about an ice cream truck? The creepy, evil clown feeling? Maybe it was merely second-hand pot smoke from the driver.
The Farmer File: Michigan counters our Skunk Ape with its own (Florida) In this global economy, states vie with each other for all commerce. In this case, Floridians are concerned that the U.P.'s Bigfoot tourism of late will take business away from the sunshine state.
Jogger trips up Detroit robbery (Canada) An anonymous jogger in Ferndale simply stuck out her foot, tripped the thief, sent the wallet flying and kept running. Although the the crook hopped on a bike and attempted a get away, the police caught up to him, crediting the jogger with giving them a critical few moments of time.
The Farmer File: Michigan counters our Skunk Ape with its own (Florida) In this global economy, states vie with each other for all commerce. In this case, Floridians are concerned that the U.P.'s Bigfoot tourism of late will take business away from the sunshine state.
Jogger trips up Detroit robbery (Canada) An anonymous jogger in Ferndale simply stuck out her foot, tripped the thief, sent the wallet flying and kept running. Although the the crook hopped on a bike and attempted a get away, the police caught up to him, crediting the jogger with giving them a critical few moments of time.
Friday, June 15, 2007
International Tabloid News from Michigan
Michigan couple finds baby on MySpace (Australia) Lookout, Craig's List.
No charges in wheelchair-truck ride (Canada) North American drivers heaved a sigh of relief for the trucker whose grille snagged an occupied wheel chair last week. There but for the grace of god...
Former treasurer of Michigan county gets top sentence in Nigerian scam (Austria) Snopes explains this confidence method, also known as 4-1-9 or advanced fee fraud. If you get an email from a stranger in Nigeria promising a lot of money in return for a little, remember--no free lunches. Not even in prison.
Michigan hotel pulls ladies-only floor plan (Canada) Marriott's intention for its new Grand Rapids hotel seemed good--safe space for business women traveling alone. But response from "international clients was negative. " This wouldn't have anything to do with certain ladies flying into Grand Rapids for the Michigan Womyn's Music Festival, would it? Ahem...On a positive note, rooms and the lounge on the floor in question still will feature details to please lady travelers: chenille throw blankets and jewelry holders.
No charges in wheelchair-truck ride (Canada) North American drivers heaved a sigh of relief for the trucker whose grille snagged an occupied wheel chair last week. There but for the grace of god...
Former treasurer of Michigan county gets top sentence in Nigerian scam (Austria) Snopes explains this confidence method, also known as 4-1-9 or advanced fee fraud. If you get an email from a stranger in Nigeria promising a lot of money in return for a little, remember--no free lunches. Not even in prison.
Michigan hotel pulls ladies-only floor plan (Canada) Marriott's intention for its new Grand Rapids hotel seemed good--safe space for business women traveling alone. But response from "international clients was negative. " This wouldn't have anything to do with certain ladies flying into Grand Rapids for the Michigan Womyn's Music Festival, would it? Ahem...On a positive note, rooms and the lounge on the floor in question still will feature details to please lady travelers: chenille throw blankets and jewelry holders.
Friday, June 8, 2007
More International Tabloid News from Michigan
Comic relief for a weary global village, courtesy of Michigan. By now you've probably seen it--the guy in the wheel chair stuck to the grille of a semi near Paw Paw. Thank goodness no one was hurt. This story has been making its way around the globe since Wednesday.
What's interesting is the variability of the details (was it a 2, 4 or 6 mile ride) and the inventive headlines:
An odd hood ornament (Canada)
No injury in wheely scary semi ride (Canada)
US man survives truck 'road' trip (Australia)
An electric, wild ride (South Africa)
Man cheats death on lorry (UK)
Wheelchair man gets highway ride (BBC)
What's interesting is the variability of the details (was it a 2, 4 or 6 mile ride) and the inventive headlines:
An odd hood ornament (Canada)
No injury in wheely scary semi ride (Canada)
US man survives truck 'road' trip (Australia)
An electric, wild ride (South Africa)
Man cheats death on lorry (UK)
Wheelchair man gets highway ride (BBC)
Subscribe to:
Posts (Atom)
