Thursday, August 27, 2009

Howard Davidowitz – “As a country we are out of control, we’re in a death spiral.”

Simply telling the truth… (ht Comrade)

"In the Tank Forever": U.S. Consumers, Retailers in a "Death Spiral," Davidowitz Says:

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."