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Retailers were keeping their fingers crossed as they pushed to clear out summer merchandise with sales to make room for back-to-school merchandise. Recent reports by CBS reveal that they were left disappointed, to say the least, with a slow June month.

It appear as though consumers are being more cautious than ever as highly discounted merchandise is barely dragging in shoppers. Retailers are nervous about the slow kick off of back-to-school shopping as well, and are hoping for last minute shoppers to pull them through the season.

Some analysis's are also forecasting a slow holiday shopping season ahead.

What is causing consumers to refrain from spending? Some would argue that it is not simply a matter of consumers refraining from spending, but rather consumers don't have the money to be spending due to the struggling economy. Others are saying that consumers do have the money, but that they are holding on tight due to fear of the recent talk of a possible double-dip recession in our near future.

Others have been saying that there is no forecast of a double-dip recession and that if we want to keep from bring more financial trouble to our economy, we need to keep buying as we need and desire.

There are reports showing that the job market is beginning to show a healthy improvement, and perhaps even a steady recovery; though, despite the improvement, many are still occasionally falling onto difficult times and finding short-term solutions helpful while they get back on their feet.

Whatever the cause of weak consumer spending is, there is one thing for sure; because of weak summer sales, retailers are letting merchandise go with incredible sales, and now may just be a good time for consumers to get the deals that they have been waiting for. Perhaps if consumers take advantage for the great deals happening around them, they can give the economy a good boost and finally put an end to all of the "slow economy" talk.

And if you are wanting some extra money for that back-to-school shopping, now would be a great time to sell some of the unwanted scrap gold you have laying around since the gold market is at an all time high. Check City pays three to five times as much as other gold buyers and are known for their great customer care.

Economists are saying that in the next few months the United States economy will be supported less by the government’s efforts and will depend more on business investment and exports for growth. They estimate the economy will grow by about 2.75 percent annual rate throughout the next six months.

This hopeful rate is somewhat diminished from their previous estimate of 2.9 percent with a 5.9 percent spike during the fourth quarter. These numbers are the median of the estimations of over 50 economists.

These economists also predict that unemployment rates will quickly decrease following the slowing of unemployment rates throughout the first part of 2010. As the economy grows, consumer spending will also increase.

In addition, inflation is expected to reach the lowest rate in five decades by the third quarter. The Federal Reserve may be able to keep its target rate close to zero during this time.

Nigel Gault, Chief U.S. economist at IHS Global Insight, said, “The initial big kick from inventories will start to fade…We’re looking more at business equipment spending and for exports to be key drivers [of the recovery]. “

Even though there is a lot of hope for the future, many people are at the end of their rope financially. Many people have been struggling through unemployment for months or even years. Living on a month to month basis can be very difficult especially when unintended expenses occur. Check City can help you get through a month under difficult circumstances by providing you with the money you need to make ends meet. Our title loans are easy to apply for and you will only need your car, the title, picture ID, and proof of residence. Under the title loan plans that we offer you can still drive your car and have the money that you need. Visit one of Check City’s convenient locations to get the cash you need today.

To read more about the rebounding economy visit:
http://www.bloomberg.com/apps/news?pid=20601103&sid=auUDzaIwZzVg

The watchdog created to advise the government’s bailout program warned that commercial real estate loans may cause the US’s economy take a nose dive once more. They suggested that if regulators prepare now they may be able to prevent this. This warning was meant to encourage regulators to take measures to prevent another crisis related to the banking systems.

The watchdog panel was created in October 2008 to oversee the banking system rescue that was being conducted by the Treasury. Almost $0.7 trillion of commercial real estate loans that end between 2010 and 2014 are currently ‘underwater.’ This means that they owe more for their property than the property is actually worth.

In addition to this data, the panel concluded that if the economy is still limping along and banks are restricting lending policies that the borrowers will not be able to refinance. If this happens, they stated that hundreds of banks will fail and cause further damage to the economy.

The watchdog panel unanimously agreed that this is a very serious concern that will strike the poor economy in the next few years. The small and medium-sized banks will be at the most risk for loss due to commercial real estate loans.

In the watchdog panel’s report they showed that almost 3,000 banks center their attention on commercial real estate lending. 2,115 of these banks have $100 million to $1 billion invested in these companies.

The panel recognized the fact that regulators will have to work as a team in several areas to avoid another potential economic disaster. They were asked to put a special emphasis on planning ahead.

The government may also take preventative action by lending to small banks and business or guaranteeing the small bank loans. The Term Asset-Backed Securities Loan Facility was created to lend support to giving out asset-backed securities collateralized by loans that were guaranteed by the Small Business Administration. The facility was set to expire later this year, but its life may have to be extended while letting a few banks fail.

The panel commented that, “The panel is clear that government cannot and should not keep every bank afloat…Neither should it turn a blind eye to the dangers of unnecessary bank failures and their impact on communities.”

With the banks in constant danger of sinking under the tide, opening a new checking account can be not only a hassle, but an unnecessary risk. Netspend prepaid debit cards are an ideal alternative to traditional debit cards connected to a checking account. Prepaid debit cards allow users to pay bills, make purchases, and manage money similar to a normal debit card, but without the need of a checking account. Visit Check City’s website to find out more about the convenience of a netspend prepaid debit card.

 

After the loss of 85,000 jobs in December the Federal Reserve predicts that employment rate recovery is going to take some time. Even though job loss is continuing, the rate at which it has continued has begun to slow down experts say. Jim O’ Sullivan, chief economist at MF Global Inc., New York forecasts a payroll decline of 100,000. He believes that it is a matter of time before the payroll becomes steadily positive. Over the past two years in the United State’s economic recession, there has been a 7.2 million drop in payrolls. This is the biggest percentage of job loss since World War II. As a result, stocks have fallen as well due to concern that the recovery is not as strong as it first appeared. Companies are also cautious to hire new employees in case the economy suffers another relapse. 

Half of these jobs have been lost since Obama became president, and he is under pressure to create more jobs. This year there will be temporary work for about 1.15 million people to help the Census Bureau with the population count.  Obama has also proposed to spend money on transportation systems and boosting tax credits. By boosting tax credits he hopes that small business will open more employee position. It will also be an incentive for people to update their homes to make them more energy efficient. This stimulus plan will cost about $797 million. When these plans are implemented, it is predicted that the unemployment rate will stay under eight percent.

 In the third quarter the economy had its first growth in over a year with a 2.2% increase. Looking into the future to the fourth quarter, JPMorgan Chase & Co. and Credit Suisse economists expect the economy to continue to grow. Hope for the new year of 2010 is very high. 

 Even through the position of the economy at this time is uncertain, there are many options available to you a little quick cash. Check City offers quick and easy title loans for your car. Check out Check City’s title loan page or visit a local location to find out more about title loans. Check City also provides gold buying services. Learn how to sell your old jewelry to Check City by visiting their gold services site.

According to the following article in the JoongAng Daily news, Korea is one of only three of the developed countries in the world to experience positive economic growth for the year 2009.

Published November 20,2009

"Korea will be among the three developed countries with positive economic growth this year and become the one with the highest growth rate next year, the Organization for Economic Cooperation and Development said yesterday.

The latest outlook for Korea, a considerable improvement from one released in June, reflects a steady recovery in the private sector of Asia’s fourth largest economy, the organization said.

It even recommended that expansionary monetary policy, which has provided the economy with a major boost, now needs to gradually come to an end in order to better balance the national budget.

Spending, the OECD said, should be scaled back.

'Other exceptional measures to stabilize the economy, such as the expanded support to small and medium-sized enterprises, should be phased out,' it said.

In its revised world economic outlook, the OECD said Korea’s growth rate this year and next year will be 0.1 percent and 4.4 percent, respectively.

That is a significant improvement from its previous forecast. In June, the OECD predicted a 2.2 percent contraction this year and a 3.5 percent growth next year for Korea.

Among the other 29 OECD countries, only Australia and Poland were predicted to post growth in the positive territory, at 0.8 percent and 1.4 percent, respectively.

Next year, none of them were estimated to have a higher growth than Korea’s.

In the revision, the OECD also said Korea will post 4.2 percent growth in 2011 and then record a 4.5 percent average annual growth between 2011 and 2017, close to its potential growth.

'Following the severe contraction in late 2008, Korea has achieved one of the earliest and strongest recoveries in the OECD area, led by exports and expansionary fiscal policy,' said the OECD in the report.

Finance Minister Yoon Jeung-hyun echoed the optimism on the Korean economy yesterday, saying the economy will grow more than 4 percent next year, which had been a government target.

'Major foreign media and international organizations are showing amazement at Korea’s rapid economic recovery,' he said.

Yoon, however, cautioned against an excess of optimism, saying the employment situation and the private economic sector are still stagnant.

Analysts also point to the new flu as a factor with the ability to weaken the recovery.

Early this month, Hyundai Research Institute said the growth rate could be lowered by up to 7.8 percentage points due to the new flu while the Korea Economic Research Institute suggested a 5.6 percentage point drop.

The government said the new flu will lower growth by up to 0.3 percentage point this year."

What do you think? Should we be worried about our economic growth pattern? Can we learn from Korea's smooth and swift economic recovery? To help your own economic recovery program send us your scrap precious metals including your gold, silver and platinum jewelry and get a financial boost all for yourself.