wonder how many hundreds of thousands of more jobs will be lost in the next report. I guess we will all like to eat at the soup kitchen soon. I will wear layers of clothes to not freeze to death. Poeple who think this is a recession are in for a rude awakening. People are maxed out on credit. People are maxed out on home equity and under in many cases. People cant pay the car/s off. Its going to be very very interesting.
Hm. Any idea if the closing stores will have GOoB sales?
Maybe I can pick up some Post-It Notes as stocking stuffers.
Market correction — it may hurt, but so does a tumor removal.
The only proper response of the government is total silence.
Let the market sort it out.
This is just a business move, meant to shore up the bottom line. This happens from time to time.
I think you must be listening to Gerald Celente on Kook to Kook.
He sure paints a bleak picture for next year, and he may be right.
I will be relocating to the Philippines in January.
I don't want to be in Europe if, and when the crash comes.
At least in Philippines, everyone is already poor but happy, and I wont freeze to death.
The best part... I have lots of cute young ladies waiting for me :)))
The good news is that illegal hiring zones will now be places for open drug sales.
I hate Office Despots.
It's actually more of a massive correction, where the markets reflect reality rather than hype and "creative accounting."
Reality is always a shockeroo, but, hey, it's reality.
More of the Great Depression news... the “big one” will be taking hold, full force, in 2009... hoo-boy!
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.