Posted on 12/11/2008 11:19:14 PM PST by doug from upland
The Wal-Mart on Ford Rd is still there....
Yes,you are sadly right. This is being felt in the southeast as a little deeper than a recession. At least in a recession you have a glimmer of hope for a rebound. It’s not looking likely day after day of that happening.
Yeah, we lost Kmart, JCPenney, Sears, and a Taco Bell. Who loses a Taco Bell? Yeah, their food is crap, but boy is it cheap!
Yeah, we lost Kmart, JCPenney, Sears, and a Taco Bell. Who loses a Taco Bell? Yeah, their food is crap, but boy is it cheap!
AMENDED:
OH yeah, and Wendy’s. WENDY’S!
The OfficeMax in our city went out several years ago. I go in Office Depot when I need one or two copies of something. Their prices are too high.
Office Depot would do themselves a huge favor if they had more reasonable prices for odds and ends. The other day I needed a telephone jack adaptor. It was priced at $6.99. I went down the street to Dollar General and got it for $2.50. Exact same thing. They also need to get rid of the mail in rebates. I fight like a dog to get my $250 rebate on the laptop computer I am using right now. Eventually I got it but had to go to the top to get it staightened out. Always make copies of everything in case they claim they didn’t receive the rebate. That is unacceptable. Otherwise I like perusing their stores but these two things need to change.
Office Depot is over expanded and doing a bad job of competing with Office Max. They have recently gone through a face lift on a lot of stores so they stopped looking like dollar stores, but it was probably too little too late. Once you become Office Max’ dusty cousin it’s hard to stop.
If anyone here has any debt, get rid of it now.
The wholesale price pyramid crashed 2.2 % in November, which is unprecented.
As this works it way through to retail, this coupled with the inventory fire sales from distressed stores will crash retail prices across the board in weekly waves. Retail is going to be forever chasing a sales price that actually sells the item as sellers bid for buyers. This is a massive reversal of our economy, lordy. Credit bid the price of everything up and inflation targets werent set high enough. We didnt reduce enough debt through our only way to control it, which is monetary policy controlling inflation while it still can. Now we’ve lost control as the bad debt purges itself.
People like idiots will rejoice at the ever increasing buying power of each dollar, as prices collapse, then react with shock and disbelief that every business in America selling for less than they paid means everyone goes out of business no matter how much stuff they sell. Nowhere to work = no work here, Miguel! Say hi to Tito and Manuela for us!
Debt deflation is going to happen.
We may be seeing Americans doing jobs Americans won’t do and a massive number of illegal aliens going home.
Debt deflation is going to happen.
What is that?
“Debt deflation is going to happen.
What is that?”
When prices collapse, wages follow suit. The entire economy scales down. Soda pop eventually costs 15 cents again. A magazine is 50 cents. Seeing a movie is a 1 dollar date. So the amount we all earn is massively reduced to reflect what everything now costs.
Only your debts dont deflate.
You may still owe 50 k on your house, car(s), cottage, boat, combined, and in total it was all worth 1 million before deflation hit. That debt used to only cancel out 5 % of what it was worth, you almost had everything paid off and really, you owned 95 % equity in everything. Now, you earn 100 dollars a week, and that’s a middle class income, because it buys as much as 1 grand a week used too.
But how do you even keep up with the minimum payments on a 50 k mortgage when you only earn 100 dollars a week?
So debt delfation is when your debt load suddenly becomes montrous for no other reason than total deflation reduces the price and wage pyramid dramatically.
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