Friday, November 14, 2008

Consumerism Dead?



There has been a BIG drop in retail sales. Circuit City has filed for bankruptcy protection. Best Buy has cut its earnings forecast amid the 'most difficult climate' in its history. Citigroup has announced massive layoffs and an increase in credit card interest rates. Will consumer behavior be changed over the long term? If there is such a change, is there any hope for the economy and the stock market? A substantial portion of the economy is based on morons continuing to buy over priced junk.

No comments: