Ford and Toyota Sales Crash; Triple Airline Merger in Talks; GE Ponders Job Cuts; Sears Closing Stores; Oil Prices Hit 3-year Low; Discover Says More Credit-card Write-offs Likely

Consumer spending was flat in the US in August. Adam Lass says this zero means more than the much-hyped $700 billion figure currently grabbing the headlines.

The bottom line is consumers are running scared, and that is bad news for retailers and manufacturers.

Adam says Whirlpool (NYSE:WHR) and Sherwin-Williams (NYSE:SHW) are in for a particularly rough ride. Even ’safe’ stocks such as Sears (NASDAQ:SHLD) or Kohl’s (NYSE:KSS) could seriously hurt your portfolio in the coming months.

Money Morning’s William Patalon III says comments by Ben Bernanke at the end of the week show he continues to prioritise economic growth over inflation. This means no rate hikes in the near future. But despite falling commodity prices, William says the threat of stagflation is growing…

The U.S. economy is certifiably lousy, says Lynn Carpenter in Investor’s Daily Edge. Many businesses are looking for a turnaround. There are many factors affecting the success of a turnaround. A company needs to have a clear direction of what it is and where it is going. And it needs a brand name that has not been dragged through the mud. More from Lynn…

“Sure, I’ll buy it at that price. It’s going to be here in 10 years. And it’ll still be here in 100 years.”

Bear Stearns Shareholders Approve JPMorgan Sale; Sears Expects More Pain After Loss; Weak Economy Emboldening Costco; Pacific Rim GDP Growth; Staff Reduction at GM.

When U.S. Department of Energy analysts told you more than a month ago that gasoline prices would peak at about $4 a gallon around Memorial Day, we told you they were wrong. Gas prices, we said, were destined to head much, much higher.