Friday, May 30, 2008

Well then, there you go

Consumers' mood at 28-year low in May: U.Mich

My retail business stinks right now. It has for about a month. I am not alone.

The report heightens worries that the United States could be entering a period of stagflation like the late 1970s and early 1980s, characterized by a sluggish economy and accelerated price growth.

Stagflation? According to Investopedia, it means a condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices, or inflation.

Stagflation occurs when the economy isn't growing but prices are, which is not a good situation for a country to be in. This happened to a great extent during the 1970s, when world oil prices rose dramatically, fueling sharp inflation in developed countries. For these countries, including the U.S., stagnation increased the inflationary effects.

That pretty much sucks, huh? No wonder nothing is selling. My sales are down almost 60% over this time last year. Weh. No other word sums it up.


deanna said...

Ebeth from A Catholic Mom Climbing the Pillars tagged me and I am glad to have a diversion! Now I am tagging you. The theme for this meme is that using the 26 letters of the alphabet you will express who you are, what you do, your interests, what matters to you etc….and you have to write it within 26 minutes…I haven’t seen this anywhere, though I’m sure it’s so obvious an idea that other bloggers have done it before!...

Christine said...

This is such a hard time for everyone. While planting our garden last night I said a prayer for every seed that we can have a bountiful garden. I will weed this year!

FloridaWife said...

While I realize the reality of the current economic climate, I do hope that somehow, someway something good happens for your business. You do excellent work.