Indefatigable Consumers?
Chuck Ponzi May 11th, 2007
It seems that consumers have been takign a few months off.
Bad Weather, unseasonably good weather, or just the housing slump.
Either way, consumers are pretty much maxed out, as Market Watch tells us. None of this is surprising in light of the ongoing credit contraction and reduction of MEWs going on in the credit markets.
I highly recommend a good read of Barry Ritholtz’s take on “Retail Sales = Hard Landing?”
One of the early casualties of the downturn is Tweeter Home Entertainment who yesterday announced a possible bankruptcy filing and whose stock has dropped from over $8 to currently trading at $.35 over the past year. I surmise we haven’t seen the last of retail pain in this recession.
Yep, everyone duck and cover! The blowout of the biggest asset bubble ever is about to rain unholy fire on the American (over)consumer.
Greetings,
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More Power,
Freddie Aguilar
Real Estate Investments
Actually, the consumers are still buying…..
GASOLINE!!!
With gas $3.50+/gallon, they can’t afford too much of anything else