The New York Times is reporting major sales drops across the board in retail - with the minor exception of discount stores like BJ's and Walmart.
Yes folks, without having to state the obvious, our economy is in dire straights.
The consumer is usually resilient to the ups-and-downs of the financial markets, buying stuff they need, as well as stuff they simply want. Our economy is facing more than just bouncy markets - its facing deflated housing values, increasing job losses, and increasing foreclosures.
I keep saying "unfortunately", but again its very unfortunate that this is still not the last phase of the process to any type of financial rebirth. We'll probably have to go through a few more doldrums before seeing the light at the end of the tunnel. DOH! When the retailers are forced to close more shops, many employees will be laid off as well.
Source: Retailers Report a Sales Collapse
Yes folks, without having to state the obvious, our economy is in dire straights.
The consumer is usually resilient to the ups-and-downs of the financial markets, buying stuff they need, as well as stuff they simply want. Our economy is facing more than just bouncy markets - its facing deflated housing values, increasing job losses, and increasing foreclosures.
I keep saying "unfortunately", but again its very unfortunate that this is still not the last phase of the process to any type of financial rebirth. We'll probably have to go through a few more doldrums before seeing the light at the end of the tunnel. DOH! When the retailers are forced to close more shops, many employees will be laid off as well.
Source: Retailers Report a Sales Collapse
