Party's Over
A couple of decades ago when I read Noam Chomsky before he mysteriously sold out, he said something I took to heart. He maintained that if you really wanted to know what was going on in the world, read the business section of the newspaper.
He said that everything else in the newspapers could be subject to interpretation but money couldn't and didn't lie.
"In the Tank Forever": U.S. Consumers, Retailers in a "Death Spiral," Davidowitz Says
"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."
And don't try to fix the rigged game and pull out of that sick death spiral because if you do, the "too big to fail" financial terrorists will collapse the whole house of cards even faster.
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
"And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo."
He said that everything else in the newspapers could be subject to interpretation but money couldn't and didn't lie.
"In the Tank Forever": U.S. Consumers, Retailers in a "Death Spiral," Davidowitz Says
"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."
And don't try to fix the rigged game and pull out of that sick death spiral because if you do, the "too big to fail" financial terrorists will collapse the whole house of cards even faster.
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
"And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo."
posted by nolocontendere at 5:42 PM
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