Sources: Best Buy, Wall Street Journal
quote: The govt in general for allowing open trading of oil futures is to blame!
quote: In fact, global demand for oil products has surpassed supply in every quarter since the fourth quarter of 2006, according to the U.S. Energy Information Administration.
quote: Even analysts who concede the laws of supply and demand are the most significant say that speculation can make price swings more volatile - and that's what's going on now, they say. "The fundamentals have been fairly firm, but speculation exacerbates the trends," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "More and more money is going into buy-and-hold contracts that simply buy and roll into the next month."
quote: And if it isn't hurting the oil market, why the big stink about stopping it?
quote: How do the traditional laws of supply and demand account for the highly unusual price fluctuations in the market?
quote: First off, Tayb, that chart also shows that during Obama's 3 years in office, he's presided over similiar drastic increase in oil prices... but without the economic growth of 2006 and 2007.
quote: No President or elected offical can control the price of oil! Period.
quote: Personally, I don't have any disposable income because it goes into my gas tank. I know millions of other people are in the same situation. In Best Buy's hey day, it took less than $20 to fill up your car. Hell, when I started college, I could fill my tank for $7. That was $28 a month. Now I'm spending close to $300. That's $3600 a year. Back in the day, at a console launch I would dump over $1,000 on a console, accessories and games. Can't afford to do that now.
quote: It's a national economic one.
quote: Consumer surveys in the US/Canada/EU have found that over 90% of consumers do extensive research online for all purchases over $50.
quote: Consumer surveys in the US/Canada/EU have found that over 90% of consumers do extensive research online for all purchases over $50. Roughly half of those consumers researched purchases on a smart phone while standing in a store in front of the desired product. Further, consumers are looking at an average of 5 different products to compare features and an average 8 different sources to research pricing before making a decision.
quote: The retail game has fundamentally changed forever and their old winning strategy (everything under the sun under one roof) is now a losing one.
quote: I didn't say that consumer confidence wasn't at a four year low, I said that it wasn't the only thing to blame for the Best Buy failure.
quote: there aren't many PC games worth buying atm
quote: For many tech nerds (and the general populous), Best Buy has been “reduced” to simply being the physical showroom for online retailers like Amazon and Newegg.
quote: In addition, many of the digital convergence devices that Best Buy sells (smartphones, tablets, etc.) are being used by consumers to find much better deals on products online.