http://www.oftwominds.com/blogdec10/las ... 12-10.html
"...an insolvent nation awash in too much of everything but common sense, integrity, gratitude, accountability and healthy living. "
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The Last Christmas in America
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George the original one
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Perhaps I live in a bubble area (DC 'burbs), or I don't understand normal prices, but... I went to a mall 2 weeks ago and actually looked at prices in a mall for the first time in probably a year. I was planning on buying only three things that would have cost $5 (and in fact bought a few more items I had been looking for at yard sales all summer and never found - total for the trip was $19). But as I looked at the prices, I could not find prices that were low. Instead, so much looked as high as ever, if not more so. Especially clothes. And people were buying, buying, buying. So yeah, for now at least, its not "the sky is falling", but more of the same. Perhaps down the road things will change, but for now I wouldn't bet on it.
That said, I would agree there were a number of good points in the article. I can't say I never buy junk from China, but I really, really, (really) try to avoid it if I can. My total retail China purchases from the past year was probably under $200, hopefully much less. (unless my car repair parts came from China - I didn't think it made sense to hold those up to a no-China philosophy as I probably didn't have a choice)
That said, I would agree there were a number of good points in the article. I can't say I never buy junk from China, but I really, really, (really) try to avoid it if I can. My total retail China purchases from the past year was probably under $200, hopefully much less. (unless my car repair parts came from China - I didn't think it made sense to hold those up to a no-China philosophy as I probably didn't have a choice)
Good Article. It is on track well, but this is not the last year of things. Maybe 2015. Yes, more and more retails will shut down after 01/01/11. Yes, more and more people will wake up to the fact it's over (for them at least). Yes, things are only going to get a lot worse. We used to watch a lot of small start-up's going out of business. (We could have told them and saved them the trouble, but we knew they had to try, and maybe they should have). Now we are watching much bigger chains go out.
They are falling to the World*Mart syndrome. (Can't believe their World HQ in Bentonville is right here in my home state!).
Target is holding on--they will show good bottom line this year.
Schears, Rareback and Cumpany is now called "Sears Holdings" and allbeit they aren't topping like in the past, they have many other fish in the pan besides retailing. Schears will be here for a long time.
What is of concern is the nearly ten percent unemployment, which is not the end of the world in itself. It is the domino effect of it which is bad. Business bad? Close up, lay people off. On and on. So I am guessing 2015, and then maybe all hell settles in on the various McMansion people in this world.
Maybe less, maybe more.
"Field Artillery Lends Dignity to What Would Otherwise be a Vulgar Brawl".
They are falling to the World*Mart syndrome. (Can't believe their World HQ in Bentonville is right here in my home state!).
Target is holding on--they will show good bottom line this year.
Schears, Rareback and Cumpany is now called "Sears Holdings" and allbeit they aren't topping like in the past, they have many other fish in the pan besides retailing. Schears will be here for a long time.
What is of concern is the nearly ten percent unemployment, which is not the end of the world in itself. It is the domino effect of it which is bad. Business bad? Close up, lay people off. On and on. So I am guessing 2015, and then maybe all hell settles in on the various McMansion people in this world.
Maybe less, maybe more.
"Field Artillery Lends Dignity to What Would Otherwise be a Vulgar Brawl".