Retail maven Howard Davidowitz paid another visit to Tech Ticker this week. And despite signs of improvement in consumer confidence and retail stocks rising, Davidowitz is steadfast in his belief the consumer is dead.
Rather than summarize, let me just highlight some of his best one-liners:
On retail:
"The retail business is terrible... It's almost all negative."
"We're going to close hundreds of thousands of stores."
On the consumer:
"They’re still over leveraged, they're losing jobs, their credit has been cut back."
On America:
"We are in the tank forever. As a country we are out of control, we're in a death spiral."
On the stock market:
"We're in terrible shape. That's what the fundamentals tell me. I can't explain the stock market."
Listen to the Video Here
Watch the Argentina Economic Collapse videos on YouTube. Same players, ie, same banksters. Same mentality. Same strategy. The same vampires are descending on us that destroyed their economy in 2001. Same Same Same Same!!
ReplyDeleteArgentina was in a much better position to survive, with many more resources, less debt, etc, but was completely scavenged by the banks. The names will ring a bell 'central bank', 'IMF', JP Morgan, Citibank, Chase - all of our favorites.
The government took over major businesses and industries, fired up the printing presses, debased their currency - all the same - nothing new, nothing creative, just what works.
The blood suckers are clearly focused on us now.
It is a wake up call to what is coming. Sooner than you think.
The retail business this holiday season is going to be dead. You will be able to skateboard through the mall. Maybe fire a cannon through there. No one will care. In fact they will be happy to see you. At least it is activity.
ReplyDeleteThe toy distributor here is stocking up for Christmas like it is 2002. I'm not sure how well that is going to work out for them. The other distributor in the building just went under this week. My gut says this Christmas season is going to be a blow out -- as in sales are going to start early; discounts run deep and red ink is going to flood the malls.
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