Oh no, Walmart is not doing well? Danger, danger Economy Sucks! Not according to the flower shop.
Before this last recession, readers of a long time here might recall that I used my flower shop as a barometer for the economy. I noted that things were not doing well as our sales had started to decline in August of 2006. The smart boys and girls called it December 2008 as starting December 2007.
The analysis? It’s either the retailers have lost their way but, as noted not likely or the consumer is getting smart and not over spending or and this one just kills me: “The economy is in collapse. That’s what’s going on.”
Really? The economy is in collapse?
Disregard the government data. Jobs and GDP and all the rest are at best inaccurate measures of the economy and at worst flat out corrupt. Walmart is capitalism writ large. .. When Walmart misses estimates, it can only mean one of two things: either Walmart or the American economy is weaker than anyone thought.
Yup, that’s what it is the corrupt government numbers are not to be trusted. Walmart et al are sucking big air right now and that means the economy is going down. I mean, it certainly couldn’t be the consumer having wised up and got the message of stagnate or declining wages while working whacked out hours and accomplishing little other than having stopped the dehydration.
I got news for these “smart ones”. The flower shop says things are holding their own. It’s not growing, but it’s looking like the first year since 2006 that we will stay even and maybe even up a bit.
“I don’t think we’re in a recession right now, but I think there’s a 50 percent chance we’ll be in one next year,” Davidowitz shouts, and there’s nothing the government is going to be able to do about it. “We’ve spent all the money, we’ve borrowed all the money, and we’re in the tank.”
Who do you believe? My flower shop and Spencer’s job analysis with Ed’s explanations or Walmart and the “smart ones”?