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Guest Post: 16 Signs That The Middle Class Is Running Out Of Money

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

Is "discretionary income" rapidly becoming a thing of the past for most American families?  Right now, there are a lot of signs that we are on the verge of a nightmarish consumer spending drought.  Incomes are down, taxes are up, many large retail chains are deeply struggling because of the lack of customers, and at this point nearly a quarter of all Americans have more credit card debt than money in the bank.  Considering the fact that consumer spending is such a large percentage of the U.S. economy, that is very bad news.  How will we ever have a sustained economic recovery if consumers don't have much money to spend?  Well, the truth is that we aren't ever going to have a sustained economic recovery.  In fact, this debt-fueled bubble of false hope that we are experiencing right now is as good as things are going to get.  Things are going to go downhill from here, and if you think that consumer spending is bad now, just wait until you see what happens over the next several years.

Even though the Dow is surging toward a record high right now, everyone knows that things are not good for the middle class.  A recent quote from CPA Howard Dvorkin kind of summarizes our current state of affairs very nicely...

"The fact of the matter is that America is broke — whether it's mortgages, student loans or credit cards, we are broke. The old rule of thumb is that people should have six months' of savings," Dvorkin says."If you talk to people, most don't have two pennies."

These days most Americans are living from paycheck to paycheck, and thanks to rising prices and rising taxes, those paychecks are getting squeezed tighter and tighter.  Many families have had to cut back on unnecessary expenses, and some families no longer have any discretionary income at all.

The following are 16 signs that the middle class is rapidly running out of money...

#1 According to one brand new survey, 24 percent of all Americans have more credit card debt than money in the bank.

#2 J.C. Penney was once an unstoppable retail powerhouse, but now J.C. Penney has just posted its lowest annual retail sales in more than 20 years...

J.C. Penney Co. (JCP) slid the most in more than three decades after the department-store chain lost $4.3 billion in sales in the first year of Chief Executive Officer Ron Johnson’s turnaround plan.

The shares fell 18 percent to $17.40 at 11:28 a.m. in New York after earlier declining 22 percent, the biggest intraday drop since at least 1980, according to data compiled by Bloomberg. J.C. Penney yesterday said its net loss in the quarter ended Feb. 2 widened to $552 million from $87 million a year earlier. The Plano, Texas-based retailer’s annual revenue slid 25 percent to $13 billion, the lowest since at least 1987.

How much worse can things get?  At this point the decline has become so steep for J.C. Penney that Jim Cramer of CNBC is declaring that they are in "a true tailspin".

#3 In the United States today, a new car has become out of reach for most middle class Americans according to the 2013 Car Affordability Study...

Looking to buy a new car, truck or crossover? You may find it more difficult to stretch the household budget than you expected, according to a new study that finds median-income families in only one major U.S. city actually can afford the typical new vehicle.

The typical new vehicle is now more expensive than ever, averaging $30,500 in 2012, according to TrueCar.com data, and heading up again as makers curb the incentives that helped make their products more affordable during the recession when they were desperate for sales. According to the 2013 Car Affordability Study by Interest.com, only in Washington could the typical household swing the payments, the median income there running $86,680 a year.

#4 The founder of Subway Restaurants, Fred Deluca, says that the recent tax increases are having a noticeable impact on his business...

"The payroll tax is affecting sales. It's causing sales declines," he said, estimating a decline of about 2 percentage points off sales at his restaurants. "There are a lot of pressures on consumers," Deluca said, adding "I think this is on the permanent side, but I think business will adjust to it."

#5 Many other large restaurant chains are also struggling in this tough economic environment...

Darden Restaurants, which owns the casual dining chains Oliver Garden, LongHorn Steakhouse and Red Lobster, said blended same-store sales at its three eateries would be 4.5 percent lower during its fiscal third quarter.

Clarence Otis, Darden's chairman and chief executive, said that "while results midway through the third quarter were encouraging, there were difficult macro-economic headwinds during the last month of the quarter."

"Two of the most prominent were increased payroll taxes and rising gasoline prices, which together put meaningful pressure on the discretionary purchasing power of our guests," he added.

#6 The CFO of Family Dollar recently admitted to CNBC that this is a "challenging time" because of reduced consumer spending...

At Family Dollar where the average customer makes less than $40,000 a year, the combination of a two-percent hike in the payroll tax, rising gas prices and delayed tax refunds has created a "challenging time and an uncertain time for the consumer right now," said Mary Winston, the company's chief financial officer.

"In our case, anything that takes money out of our customer's wallet gives them less money to spend in our stores," she told CNBC. "So I think all of those things create nervousness for the consumer, and I think there are sometimes political dynamics going on that they might not even fully understand the details, but they know it's not good."

#7 Even Wal-Mart is really struggling right now.  According to a recent Bloomberg article, Wal-Mart is struggling "to restock store shelves as U.S. sales slump"...

Evelin Cruz, a department manager at the Wal-Mart Supercenter in Pico Rivera, California, said Simon’s comments from the officers’ meeting were “dead on.”

“There are gaps where merchandise is missing,” Cruz said in a telephone interview. “We are not talking about a couple of empty shelves. This is throughout the store in every store. Some places look like they’re going out of business.”

This all comes on the heels of an internal Wal-Mart memo that was leaked to the press earlier this month that described February sales as a "total disaster".

#8 Electronics retailer Best Buy continues to struggle mightily.  Best Buy just announced that it will be eliminating 400 jobs at its headquarters in Richfield, Minnesota.

#9 It is being projected that many of the largest retail chains in America, including Best Buy, will close down hundreds of stores during 2013.  The following is a list of projected store closings for 2013 that I included in a previous article...

Best Buy

Forecast store closings: 200 to 250

Sears Holding Corp.

Forecast store closings: Kmart 175 to 225, Sears 100 to 125

J.C. Penney

Forecast store closings: 300 to 350

Office Depot

Forecast store closings: 125 to 150

Barnes & Noble

Forecast store closings: 190 to 240, per company comments

Gamestop

Forecast store closings: 500 to 600

OfficeMax

Forecast store closings: 150 to 175

RadioShack

Forecast store closings: 450 to 550

#10 Another sign that consumer spending is slowing down is the fact that less stuff is being moved around in our economy.   As I have mentioned previously, freight shipment volumes have hit their lowest level in two years, and freight expenditures have gone negative for the first time since the last recession.

#11 Many young adults have no discretionary income to spend because they are absolutely drowning in student loan debt.  According to the New York Federal Reserve, student loan debt nearly tripled between 2004 and 2012.

#12 The student loan delinquency rate in the United States is now at an all-time high.  It is only a matter of time before the student loan debt bubble bursts.

#13 Due to a lack of jobs and high levels of debt, poverty among young adults in America is absolutely exploding.  Today, U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

#14 According to one recent survey, 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.

#15 Median household income in the United States has fallen for four consecutive years.  Overall, it has declined by more than $4000 during that time span.

#16 According to the U.S. Census Bureau, the middle class is currently taking home a smaller share of the overall income pie than has ever been recorded before.

Are you starting to get the picture?

Retailers are desperate for sales, but you can't squeeze blood out of a rock.

For much more on how the middle class is absolutely drowning in debt, please see this article: "Money Is A Form Of Social Control And Most Americans Are Debt Slaves".

But if you listen to the mainstream media, they would have you believe that happy days are here again.

Right now, everyone seems to be quite giddy about the fact that the Dow is marching toward an all-time high.  And I actually do believe that the Dow will blow right past it.  In fact, it is even possible that we could see the Dow hit 15,000 before everything starts falling apart.

But at some point, the financial markets will catch up with economic reality.  It is just a matter of time.

In the meanwhile, those that are wise are taking advantage of these times of plenty to prepare for the great economic drought that is coming.

Don't be caught living paycheck to paycheck and totally unprepared when the next wave of the economic collapse strikes.  Anyone that believes that this debt-fueled bubble of false hope can last indefinitely is just being delusional.

During The Years Of Plenty, Prepare For The Years Of Drought - Photo Taken By Tomas Castelazo

 

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Sat, 03/02/2013 - 13:12 | 3293533 localsavage
localsavage's picture

The Muppets are broke

Sat, 03/02/2013 - 13:45 | 3293592 Stackers
Stackers's picture

I've also noticed Lowes and Home Depot are getting very bad on restocking empty items. I thought it was just lazy store up keep - seems to be a bigger problem though.

Sat, 03/02/2013 - 13:55 | 3293614 akak
akak's picture

I've been seeing that in MANY different kinds of stores, from clothing to grocery to auto parts.  WalMarts in Alaska have been abominably bad in that respect for years, which is partially why I decided to boycott their temples to consumerist mediocrity over a decade ago.

Sat, 03/02/2013 - 14:10 | 3293644 Richard Chesler
Richard Chesler's picture

When Obozo said he was gonna "take care" of the middle class, it wasn't just political pandering.

Sat, 03/02/2013 - 15:41 | 3293826 The Juggernaut
The Juggernaut's picture

 

Helicopter:  $5,000

Money in a sack:  $100,000,000,000,000,000

The value of the US dollar once Bernuckle is finished emptying his money sack:  Priceless (Worthless)

 

Sat, 03/02/2013 - 15:46 | 3293849 negative rates
negative rates's picture

Things aint so bad, I just top off my tank at $3.10/ gal, i'm still good for 3 weeks.

Sat, 03/02/2013 - 15:59 | 3293878 AlaricBalth
AlaricBalth's picture

Meanwhile, on the other side of the tracks...my sister, who is the a store manager at Saks Fifth Ave. in Bal Harbour, Fl. tells me that the store has seen record sales, especially the higher end couture designer department. She says many of the customers are the wives of wealthy NY bankers and Russian oligarchs with their 20 year old toys of the week.

Just more evidence that our economy is polarizing at a more rapid rate due to cronyism and a political class that acts as the bitches to the rich.

Sat, 03/02/2013 - 16:22 | 3293932 Smegley Wanxalot
Smegley Wanxalot's picture

If the rich have to lower themselves to shopping at Saks, things are seriously getting bad.

Sat, 03/02/2013 - 16:58 | 3294015 TruthInSunshine
TruthInSunshine's picture

I never understood the appeal of Bal Harbour. It's full of old, out of touch people, like Bob Dole (who has high rise condo there), is surrounded by concrete rather than the kind or amount of beachfront one would associate with the ocean (Sunny Isles & Marco Island are similar 'let's build a vertical shitload of units with "water view or partial water view" condos' concrete & steel shitholes), and Hasdidic dudes wearing all black wool coats, pants and hats in 97 degree heat with 85% humidity.

Sat, 03/02/2013 - 17:41 | 3294096 geno-econ
geno-econ's picture

That condo was a special deal offered Bob Dole by Archer Midland Daniels. Wonder why ? Think corn /fructose subsidies. The entire complex is filled with takers while taxpayers and consumers are getting fat on fructose and ripped off buying ethanol blend gasoline.

Sat, 03/02/2013 - 18:09 | 3294141 Freddie
Freddie's picture

+100

AMD also = Illinois. 

 

Sat, 03/02/2013 - 20:11 | 3294392 post turtle saver
post turtle saver's picture

C'mon guys, it's Archer Daniels Midland... ADM, Supermarket to the World bitchez

long jatropha

Sun, 03/03/2013 - 23:46 | 3294817 TruthInSunshine
TruthInSunshine's picture

I mispelled "Hasidic" in my post above. If you're a Hasidic Jew, my apologies.**

I also meant Normandy Isles, and not Marco Island (although Marco Island is also a concrete saturated, beach starved, vertically built, condo wasteland, also), above.

I used to travel to Florida A LOT when many of the 1 1/2% to 3% were flush, but many of these formerly flush people since went bust (I think many even here on ZH would be surprised at the massive damage that was done to many people that had 8 and even 9 figure net worth- at least on paper at one time), hence I don't travel there often now (why would anyone travel to nearly any part of Florida voluntarily? Humidity, giant ass bugs & gangs...).

 

**Hasidic Jews dress somewhat like the Amish, purportedly.  I know this purported fact because I overheard a conversation at a local pub where someone was discussing a cable show apparently entitled "Amish Mafia."

Sat, 03/02/2013 - 18:08 | 3294138 Freddie
Freddie's picture

Bob Dole is a midwestern goyim - you won't see many Bob Dole's in Bal Harbour.Probably just Bob Dole.

I used to go down there 20+ years ago.  It has been shitty for 50 years.  Miami has always been crap and the people make it even more unpleasant.  It is an upscale version of the Bronx or Williamsburg Brooklyn. The Russian gangsters are all over Miami Beach up to North Miami Beach.  I knew a Ukrainian named Olga from  there.  LOL!

Marco Island is on the west coast of FL with midwesterners so the people are nicer but the gulf side ocean is shitty. West Coast of FL is even more humid and swampy.

I am glad I live in Shitville - 1500 miles away from those places.

Sat, 03/02/2013 - 16:34 | 3293964 chubbyjjfong
chubbyjjfong's picture

Agreed. The rich and elite, holding the majority of the wealth, will deleverage into high end assets at an increasing pace. Their increased buying will be heralded as evidence of a healthy economy all the while the middle class will become poorer and poorer. 

Sat, 03/02/2013 - 20:41 | 3294459 TheProphet
TheProphet's picture

I live about four miles from NorthPark Mall, the largest mall in Texas, which features all high end retailers like Nieman Marcus and Nordstrom.

One, the massive parking lots were filled to the brim this afternoon. Two, over at the valet station, it looked like the lot of a german car dealership.

These are the people who have accumulated capital, and are exactly the people who get richer so long as the Fed prints money.

Sat, 03/02/2013 - 22:42 | 3294657 americanspirit
americanspirit's picture

Funny thing is - there is nothing at NorthPark Mall worth spending money on. People in Dallas who have money have no taste - never have had, never will have. My wife and I went to a print exhibit at the McNay in San Antonio this afternoon. Among the 20 or so national dealers there was one from Dallas. All the rest had great prints - classical through modern. All the great names. As we looked at the Dallas gallery's display my wife ( 5th generation North Texas) said - every single print here would look great in the hallway to the master bath in a Plano MacMansion. I had to add - or in a Holiday Inn. Really - they were showing the kind of stuff you expect in a third-rate antique mall. That's Dallas.

Sat, 03/02/2013 - 23:55 | 3294760 willwork4food
willwork4food's picture

I'm going out on a limb here, but I assume you aren't a Cowboy fan?

Sun, 03/03/2013 - 13:21 | 3295503 Karlus
Karlus's picture

NorthPark is always packed, but you need to count the number of people with bags. It is indeed a destination as much as a retail outlet.

 

That said, North Dallas (with the exception of JCP) is still doing well relatively speaking. Its pretty low cost to live here and quality of live is head and shoulders above what you can do in any Northeast or Cali hell hole. Houses are still being built (and sold) and there is still hiring.

 

Come on down, we would love to have you

Sun, 03/03/2013 - 14:02 | 3295568 Montecarlo
Montecarlo's picture

Yeah - and over here in Southlake they keep building more high end retail to over-serve a very small group of affluent buyers. Since I don't shop I don't need to get over to Dallas much. I'm much more at home in Fort Worth...

Sat, 03/02/2013 - 19:04 | 3294225 masterinchancery
masterinchancery's picture

Bye bye middle class, nice knowing you--can't believe what stupid voters you are, though.

Sat, 03/02/2013 - 23:01 | 3294686 LongBallsShortBrains
LongBallsShortBrains's picture

It is a simple and obscure truth that we end up where our decisions take us...

Sun, 03/03/2013 - 02:34 | 3294912 RichardP
RichardP's picture

We also end up where other people's decisions take us.  Ever been in an auto accident that wasn't your fault?  Ever been born when you had no say in the matter?

Sun, 03/03/2013 - 08:28 | 3295067 new game
new game's picture

really simple shit being discussed here-shit we used to produce here has left the country. comes right back on the cheaper-imagine that.

to change that, well that is what 9/10 of z.h. posts address- with the ROOT of the issue being facsism...

wtf can we do, wel we know, but we are a minority for now, that will change, but unfortunately, by that point in time it will be too late.

kinda like buying gold....

Sun, 03/03/2013 - 00:38 | 3294805 SF beatnik
SF beatnik's picture

You actually think voting affects economic policy?

Sun, 03/03/2013 - 19:25 | 3296147 TheObsoleteMan
TheObsoleteMan's picture

As anyone who has ever studied Communism/Marxism can tell you, it is not the uber rich who are the enemies of the Party: it is the middle class. Obama is just following the plan set forth many decades ago. It is all but complete now, I don't believe things could be reversed even if there were any political will to do so, and believe me, there is not.

Sat, 03/02/2013 - 14:12 | 3293647 j0nx
j0nx's picture

Agreed on this. Walmart where I live has been bad like this for a few months now. ALWAYS out of everything I want or need. No real reason to go there now with the ammo shelf full of nothing but lint and mothballs.

Sat, 03/02/2013 - 19:16 | 3294253 Wile-E-Coyote
Wile-E-Coyote's picture

Agreed I went to Walmart, all the nuclear weapons were sold out what a fucking disgrace.

Sun, 03/03/2013 - 12:22 | 3295397 zerozulu
zerozulu's picture

In the Walmart near me, I see nothing but drones.

Sat, 03/02/2013 - 20:07 | 3294379 GeezerGeek
GeezerGeek's picture

Are you saying that the company that soared on 'just in time' inventory supply chain has switched to a 'just a little bit late' mode? I could see stocking less of everything not having a high turnover rate, but you can't sell what you don't stock, which means no profit at all. Were the empty shelves dedicated to items that moved too slowly to be profitable, even as loss leaders?

Sat, 03/02/2013 - 18:01 | 3294126 countrygal
countrygal's picture

It is common for stores not to be stocked well this time of year since so many are getting ready to do inventory. 

Sat, 03/02/2013 - 21:15 | 3294525 adr
adr's picture

Inventory is over. Nearly every retailer has thier fiscal year end in January. March 1st is the summer inventory kickoff. If the shelves aren't stocked in February, they aren't going to be stocked.

My order from a major retailer was 1/4th what it was last year.

Sun, 03/03/2013 - 01:13 | 3294845 TruthInSunshine
TruthInSunshine's picture

adr, are you familiar/have you ever attended the International Council of Shopping Centers convention in Vegas?

The last time I went, I'd estimate there were rougly 70% fewer attendees than in 2005 or 2006.  It was depressing.

Even the former legendary parties surrounding the convention were just pitiful.

Sat, 03/02/2013 - 14:22 | 3293660 Miss Expectations
Miss Expectations's picture

With decreased sales, NO ONE wants to hold an extra molecule of inventory.  Operating with extremely low inventories will inevitably result in at least some out of stocks, particularly when the entire supply chain is doing the same thing.  I believe that WalMart pushed their inventories way to low and out of stocks were the result.  Forcasting meetings were always the most stressful of all the meetings I attended.  If your forecast was too high, you had excess inventory (BAD).  If you forecast too low, you had out of stocks (REALLY BAD).  The only good forecast was a perfect forecast (RARE EVENT).

Sat, 03/02/2013 - 14:32 | 3293685 Skateboarder
Skateboarder's picture

When the kite string pops, imagine a jillion interlaced tape measures all trying to retract at once. That is the global supply chain. Lead times get compounded yo!

Sat, 03/02/2013 - 14:46 | 3293718 CPL
CPL's picture

That would be true if the prices remained static, but in an inflationary environment warehousing allows a company to literally spend now to PROFIT later.  

Your example is true though, in a good business environment when energy is cheap, holding inventory is a rediculious idea.  You can just go get more...that's not the case today though is it?

In a expensive energy, rising price situation, you WANT to have items to follow the trend of inflation to keep a float.While the reasoning is sound, the business angle is not.  I'm sure there are items you have in the house and use for months to hedge rising costs.

Sat, 03/02/2013 - 17:27 | 3294071 IrritableBowels
IrritableBowels's picture

^^^

IIRC, adr mentioned exactly this very phenomena a few months ago, around Black Friday Week.

Sat, 03/02/2013 - 18:01 | 3294125 Miffed Microbio...
Miffed Microbiologist's picture

I may be wrong but I thought big named vendors like Coke stocked their merchandise at Walmart. Walmart provides them the sales of each store and they adjust each store accordingly. So if sales slump in Arizona but are strong in Oregon, they know where to send their advertising through this data mining. So if true, are the big name vendors lowering their inventories? So does it just look like Walmart has a problem when the problem may be bigger and more widespread? I haven't been to Walmart in a long time, I think I check it out and see if all inventory is down or only select items. I guess that means I have to walk through Walmart. May be I have a drink before I go. Walmart is just so depressing.

Miffed;-)

Sun, 03/03/2013 - 07:11 | 3295029 El Crusty
El Crusty's picture

at walmart the hourly employees are the ones that stock the shelves. when i worked there not all that long ago i never ever saw a vendor stocking shelves.

Sun, 03/03/2013 - 19:06 | 3296119 TheObsoleteMan
TheObsoleteMan's picture

If you go to Walmart, skip the drink and pack a pistol. Crime stats show that a Walmart parking lot is one of the most dangerous places one could be at. Inside the store isn't that much better either.

Sun, 03/03/2013 - 19:41 | 3296178 WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

Words to live by. Several concealed carriers have stopped shootings at Wal-Marts in and around my city in the last several years. Definitely skip the drink and pack. Then again, where I'm from, everyone packs. It's not uncommon to see a mom waiting the the pharmacy line with a kid on one hip and an open carried pistol on the other. 

Thu, 03/07/2013 - 03:12 | 3307937 mkkby
mkkby's picture

And yet, none of these struggling dinosaurs are lowering their prices.  So I hope they go out of business.  God riddance to them.  Online is the only way to get any selection any way.

Sat, 03/02/2013 - 14:41 | 3293697 CPL
CPL's picture

It is a bigger problem.  All the chain retailers that are relying on JIT systems are starving for products that will simply never come.  Baltic dry index tell more than retail shipments, it's a direct reflection of energy and food supply chains for many countries.

Sat, 03/02/2013 - 14:50 | 3293726 Skateboarder
Skateboarder's picture

Praise be to jah, you turned a rasta!

Sat, 03/02/2013 - 15:08 | 3293763 CPL
CPL's picture

Ya Mon!

Sat, 03/02/2013 - 20:26 | 3294432 WmMcK
WmMcK's picture

I come soon.

Sun, 03/03/2013 - 01:17 | 3294850 TruthInSunshine
TruthInSunshine's picture

CPL, the example of "accurate information indicators" you cite is along the same line of reasoning I love electricity rate usage.

The statistical con artists at governmental, federal reserve-related/sponsored and business/industry association agencies can't spin such things.

Sun, 03/03/2013 - 09:40 | 3295141 francis_sawyer
francis_sawyer's picture

@CPL

~~~

yuh needin talkin wit stile tat

~~~

Don’t bother yourself with singular or plurals. They’re all interchangeable. Memorize the word that appeals to you the most in each category and stick with it.

  • I, Me – ah, me, mi, we, awi
  • You, your – yuh, ayu, allyuh
  • They, she, he – e, he, she, im, de, dem, aledem
Grammatical rules (in order of increasing difficulty) Rule 1

End words with ‘in’ instead of ‘ing’.

Cookin. Talkin. Walkin. Childs play.

Rule 2

Replace ‘th’ with ‘d’. Drop the ‘th’ if this rule is too complicated.

‘The’ becomes ‘de or just ‘e’. Whatever makes you happy.

Rule 3

Insert ‘ah’ at the beginning of your sentence to buy you time to think.
Ah wah dah – what’s that?

Ah whey yuh bin – where’ve you been?

Rule 4

Repeat adjectives for emphasis.

Dis wata de cold cold – This water is very cold.

Rule 5

Replace ‘er’ with ‘a’.

Butter would become butta. You might’ve realized I said ‘wata’ in my last rule. Tricky.

Rule 6

Drop h’s at your own discretion.

Maths would become mats and him would be ‘im. I’ll make no false claims and admit that I’m still in the process of internalizing this rule.

Rule 7

If you’ve gotten this far, the world is your playground. Improvise at will.
‘I told him’ can be

  • I tol him
  • I told ‘im
  • I tell ‘im
  • Ah tell e
  • I tell e
  • Me tell em
  • And so on and so forth.
Sat, 03/02/2013 - 20:16 | 3294405 GeezerGeek
GeezerGeek's picture

I must be missing something. If the BDI is down it would seem that goods are not getting produced, which could be for lack of orders or too many orders. Are the JIT retailers not placing orders to get goods (mostly from China I assume)? Or are the manufacturing sites too busy to respond in a timely fashion? That does not seem likely. So which is it? 

Maybe all the Walmart shoppers simply went upscale. How is Nieman Marcus doing?

Sat, 03/02/2013 - 23:10 | 3294701 CPL
CPL's picture

See that's the strange part, now it just doesn't matter if JC Penny sells another country's production.  Remember economies of scale follow by location.  A million dollars in somewhere like Jamacia buys you more labour than it would in the US.

Last 50 years have been dotted with crooks that steal a couple of million and hide somewhere to never return.  Scale is the feature here.  For China it was a position of no option but "up", I have no idea what did it, but it lit a fire under their ass.  

The place was still somewhat habitable in the 70's but obviously someone changed that script pretty fast.  It had a one child policy that was working, then it turned semi capitalist and more thievery/graft based plus everyone went bare back.  

Look at it now, complete mess waiting for the next loon to slide in the chair.  Chinese civil wars aren't something the world needs but it's coming regardless of anyone's intentions and effects to the contrary.  The middle kingdom once it gets rolling internally, watch out.

Sun, 03/03/2013 - 17:13 | 3295928 Cathartes Aura
Cathartes Aura's picture

key words:  Nixon, gold standard, Kissinger, Rockefeller

that would be the shorthand for "someone changed that script pretty fast" - the new farmers moved in on their live-stock and began the SOS, patterns that appear to "work" for "them" every time.

of course, there will be the fallow field decades too, for some land-scapes.

I realise you know this.

Sat, 03/02/2013 - 19:44 | 3294317 GOSPLAN HERO
GOSPLAN HERO's picture

Omuslim wants more taxation.

Sun, 03/03/2013 - 13:28 | 3295518 ejmoosa
ejmoosa's picture

Reducing their potential store losss when the looting starts.

Sat, 03/02/2013 - 13:54 | 3293612 saltine
saltine's picture

I went to the movies last night (Friday) in Frederick, MD, a bedroom community of Washington DC. The weather was average (35 and overcast). The movie place is the typical 16 theater setup in the typical suburban strip mall in a good part of town. I went to the 6:55 show of "Side Effects" (which turned out to be a decent movie). The place was a ghost town: no line at the box office, no line at the popcorn/candy counter. I was the only person in the theater for the first 15 minutes. A total of maybe 15 to 20 patrons watched that particular movie. After the movie was over (say little before 9:00 PM), the conditions were the same: no lines anywhere and very few patrons. And saw very few people in the adjacent stores before and after the movie. It was creepy strange. Several months ago on a typical Friday night there would be so many people in the theater and lobby it would take at least 20 minutes to buy tickets and popcorn.

Sat, 03/02/2013 - 14:22 | 3293663 tango
tango's picture

Same thing in Williamson Cnty - very affluent.  I thought something had happened and they had to evacutate.   Twenty theaters - intimate to gigantic - we watched the latest horrible Die Hard in a place 10% filled. Sign number 17 - the concession guy said sales were down and everyone was downsizing their purchases.   My boys said, "Jeez, Dad, no one except old folks and little kids go to the movies."  Another casualty of accelerating technoogy.  

Sat, 03/02/2013 - 14:29 | 3293677 Skateboarder
Skateboarder's picture

Tickets: $11/head
Popcorn: $5/head
Liquid diabetes (soda): $5/head

Not exactly fair on the food side of things, but you would expect the average minimum wager to still throw down for a movie even after escalating gas prices, food prices, etc. So are the movies getting worse or are the middle and the poor no longer incorporating the moviegoing experience into their entertainment budgets?

Sat, 03/02/2013 - 14:49 | 3293722 CPL
CPL's picture

23 bucks for a movie, small drink and a popcorn in Ottawa.  No tax.  Around 30 bucks with taxes to sit in the dark for 75 minutes.

Sat, 03/02/2013 - 15:04 | 3293751 Hobbleknee
Hobbleknee's picture

Not to mention, they've ruined half the movies with 3D.

Sat, 03/02/2013 - 15:09 | 3293764 CPL
CPL's picture

Don't get me started...

Sat, 03/02/2013 - 15:12 | 3293771 akak
akak's picture

No to mention having eliminated meaningful plots and storylines in favor of high-tech gimmickry and dazzling special effects.

Sat, 03/02/2013 - 15:51 | 3293856 CH1
CH1's picture

I might go to the occasional movie, if it were not for:

  • Insane volume.
  • Strobe-like editing.
  • Pointless special effects.
  • Insulting prices for food.
  • Time-wasting promos.
  • Cop Worship & statist plots.
Sat, 03/02/2013 - 16:04 | 3293895 Jugdish
Jugdish's picture

Hey there is always plenty of Ladyboy porn available on the net if you get tired of going to the movies.

Sat, 03/02/2013 - 19:03 | 3294223 StarTedStackin'
StarTedStackin''s picture

Barak? Is that you?

Sat, 03/02/2013 - 20:22 | 3294421 GeezerGeek
GeezerGeek's picture

Do you work for the SEC? You seem to know what you're talking about re porn on the net.

If so, have you been furloughed yet?

Sun, 03/03/2013 - 01:31 | 3294865 mkhs
mkhs's picture

Only useful services get cut.

Sun, 03/03/2013 - 03:58 | 3294950 Lord Of Finance
Lord Of Finance's picture

JUGDISH, I was gonna say, "WHAT?!?!, but on second thought, I don't wanna even know what that is.

 

It made me laugh though:D

Sat, 03/02/2013 - 19:21 | 3294265 Wile-E-Coyote
Wile-E-Coyote's picture

No one is bright enough anymore to follow a story, it is bright lights and bangs from now on. Fucking GMO.

Sat, 03/02/2013 - 19:49 | 3294325 Dugald
Dugald's picture

Not to mention multi plots...and way too much inter-personal verbiage....

 

Sat, 03/02/2013 - 15:05 | 3293755 indygo55
indygo55's picture

We bitch about the NWO agenda of Hollywood, then we stop going to their propagandized movies and we bitch about that. I havent been to a Theater in a few years because its so damn expensive for what you get. Im middle class, and I get a movie from Redbox or VUDU if I want to do that and I'm doing just fine. Those theatres are such a ripoff it serves them right for losing sales because of it. $7 popcorn? $5 sodas? Really? Who doesn't have a nice flat screen tv these days? I'm surprised it took so long.

Sat, 03/02/2013 - 16:23 | 3293936 Lucius Corneliu...
Lucius Cornelius Sulla's picture

I can download the latest show for $5 and my wife and I can kick back and relax in the comfort of our home.  I don't have to sit through commercials or previews, no idiots texting on their cell phones or talking to the person next to them.  Popcorn is $1.50 and if I want a Coke its $1.  No comparison.

Sat, 03/02/2013 - 16:53 | 3294008 DosZap
DosZap's picture

I can download the latest show for $5

Really??,CURRENT(just opened at major theater chains?) releases?.

WHERE?.

Sat, 03/02/2013 - 20:58 | 3294498 BooMushroom
BooMushroom's picture

But Daddy, I want it NOOOWWWWWWWWW! /Veruca Salt

Sat, 03/02/2013 - 21:06 | 3294509 MisterMousePotato
MisterMousePotato's picture

And then she turns blue/purple.

Sat, 03/02/2013 - 22:47 | 3294664 americanspirit
americanspirit's picture

So - do you really 'need' the newest and latest? Have you thought about what that says about how manipulated you are? Learn to wait. all good things come to those who wait.

Sun, 03/03/2013 - 03:11 | 3294938 Idiocracy
Idiocracy's picture

or just download for free at http://www.1channel.ch/

Sun, 03/03/2013 - 00:28 | 3294794 Totentänzerlied
Totentänzerlied's picture

I haven't been because the crap they're peddling is OVERPRICED AT ANY PRICE. They should be paying audiences money for acting s guinea pigs in their research into the effects of watching shitty predictable unimaginative poorly acted and worsely edited movies that are the sensory equivalent of getting punched in the face repeatedly while your alarm clock goes off in a dark room full of strobing lights.

Sun, 03/03/2013 - 03:38 | 3294955 Lord Of Finance
Lord Of Finance's picture

Right on indygo. I haven't been to movie in 12 years and got rid of cable 6 years ago and WOW what a difference!

 

  I have real hobbies to escape from boredum. Plus, getting rid of that shit has made me smarter/more knowledgable. 

 

   I swear that watching too much t.v./cinema kills brain cells.

Sat, 03/02/2013 - 15:29 | 3293813 juggalo1
juggalo1's picture

What almost pisses me off more is the commercials.  They show previews for future movies.  Fine.  They get paid product placement.  Fine.  They show random bullshit straight of TV.  Are you serious?  I paid for the seat, and now I have to sit through 5 minutes of commercials?  What is special about the movie experience vs. DVD or TiVo?  That I have to put up with rude strangers, their cell phones, and I can't skip the commercials?  Are you kidding?

Sat, 03/02/2013 - 23:39 | 3294742 CPL
CPL's picture

Ever been to a drive in?  Remember the hotdog jumping in the bun?  

That was an advertisement I'm afraid.

 

 

Sat, 03/02/2013 - 16:32 | 3293959 DosZap
DosZap's picture

Tickets: $11/head
Popcorn: $5/head
Liquid diabetes (soda): $5/head

Most are  not aware that when a new movie comes out, the theaters first 2-4 mos revenues from ticket sales go TO the rights to show the movies.

That is the major reason for high concessions, if they did not charge WAY high prices there, they make ZERO profit .

Sun, 03/03/2013 - 01:38 | 3294871 mkhs
mkhs's picture

Wow. Such a good business model.  Drive away patrons with high concessions.  Where can I get a franchise?

Sat, 03/02/2013 - 17:54 | 3294114 Kalevi
Kalevi's picture

Download a movie from Piratebay: 0$

One case of Corona: 20$

Ready to nuke popcorn: 2$

 

Connect you hard drive to your big ass tv, pop open your coronas, nuke the popcorn, enjoy.

Sat, 03/02/2013 - 20:23 | 3294428 GeezerGeek
GeezerGeek's picture

Plus, you didn't waste any gas.

Sat, 03/02/2013 - 18:13 | 3294145 Freddie
Freddie's picture

F Hollywood and TV.  No slight to the two guys posting about their experiences but I stopped going to movies years ago because the people at a lot of movies were f*****g creepy.

They are like fantasy junkies who are into stars and escapism.   Very weird the cinemas are dying in the Belwaysof Obummer shitville corruption of DC.  The fiat is still flowing DC like the spice.  F TV and F Hollywood and F all the directors and actors who love O.

Sat, 03/02/2013 - 14:38 | 3293698 saints51
saints51's picture

Hollywood probably has the Federal Reserve release the box office gross numbers for each movie.

Sat, 03/02/2013 - 15:25 | 3293796 CheapBastard
CheapBastard's picture

I went to the mall last night and it was so quiet it was spooky. The only people there were those folks  peddling stuff in the middle of the aisles these days. I walked into JCP and there were a few women looking at clothes reduced 80% talking to each other saying they are still too expensive.  The jewelry counters were almosrt bare...almost nothing for sale...no gold, silver nothing!  Nada! The stores were empty ...even the Food Court had only a handful of people there...for a Friday night that was amazing if not shocking.

But I try looking at the bright side...I mean that there "housing recovery"...the "green shoots" ...the "benefits of the QE" Ben talked about the other day on the Big Screen plasma TV...you know, and the sotck market at all-time highs....and all those Aliens buying up all those multi-million dollar houses the NAR talks about ...and all those 'postive signs'....yeah, that's it... the bright side MSM talks about 24/7....it's all good..."Never a better time...."...and so on....

Sat, 03/02/2013 - 18:41 | 3294182 Freddie
Freddie's picture

Is the new job growth sector guys standing on the corner flipping a sign for:

1. We buy gold.

2. $49 messsage

3. Going out of business sale

4. $8 haircuts

5. Fill in the blank

Everywhere I drive I see a guy flipping a sign for some poor small business trying to stay afloat.  Homeless everywhere. HOPE & CHANGE.

 

Sun, 03/03/2013 - 04:02 | 3294962 Lord Of Finance
Lord Of Finance's picture

More like people are hopeing for someone to give them some change

Sun, 03/03/2013 - 05:18 | 3294977 bunnyswanson
bunnyswanson's picture

There has been more than ample evidence this destruction of the US middle class has been intentional. More than enough to convince every single person walking on US soil that your country is under attack from within.  The criminal element in the banking system is so apparent that to overlook that aspect speaks of your bigotry.

These people did not get here on their own.   The unhealthy specimens, toothless, drugged into a land there may be no return from, were created to dull and dilute a lower class into oppressive state of burden with offspring and few choices through a complex means of accessing help without having a dependent. 

Coming out of a crime ridden neighborhood where getting home alive is your main goal, you need all the help you can get.  Reproduce in that enviornment for a few generations and this is what you get.  A few exceptionals might find a road out but rarely can you fight the urge to continue what you are familiar with, it's embedded in our neuropathways.  This is well known. 

The real question is why aren't the riot cops and DHS in the gang infested neighborhoods of America if they care about the people they are employed to serve.

 

Sat, 03/02/2013 - 17:40 | 3294095 Babushka
Babushka's picture

same here :

Website: www.uci-cinemas.co.uk

more info Accounts

Accounts reference date: 31/12

Last registered accounts: 31/12/2011*

Accounts next due: 30/09/2013

Accounts category: GROUP

Accounts document available: yes

Annual turnover: £640,927,000.00

Annual profit: £-77,322,000.00

Sat, 03/02/2013 - 18:53 | 3294211 Freddie
Freddie's picture

Maybe they are afraid of sequestration.  The 800,000 to 2 million DC beltway drones afraid they may not get a 10% salary increase from their highness Obummer.

F them. F Hollywood.  F TV.   The rest of America is dumpster diving while a bunch of paper pushers in DC are worried they may not get a new Mercedes this year. 

Like that POS CIA Valerie Palme and he husband Joe the pretend diplomat and full time drunk or Aldrich Ames the CIA traitor.  They all drove shitty Jaguars - which this govt parasite shits think they were actually good cars.   I had a neighbor with an new XK8 years ago and the front end vibrated at anything over 50 mph.  There was nothing they could do to fix it.

 

Sat, 03/02/2013 - 22:50 | 3294669 americanspirit
americanspirit's picture

Too bad you can't tell the good guys from the bad guys. Or write a coherent sentence. Or appreciate excellent engineering. Oh well, it takes all kinds.

Sat, 03/02/2013 - 19:48 | 3294323 GOSPLAN HERO
GOSPLAN HERO's picture

... and Frederick, MD is a town with money and relatively high incomes ... lots of government employees and government contractors.

Sun, 03/03/2013 - 12:30 | 3295413 zerozulu
zerozulu's picture

Sooner movies will be added to EBT.

Sat, 03/02/2013 - 15:36 | 3293829 H E D G E H O G
H E D G E H O G's picture

"The fact of the matter is that America is broke"........thanks, you just saved me alot of wasted ranting and typing.

Sat, 03/02/2013 - 18:07 | 3294135 Cadavre
Cadavre's picture

My dear fellow Terror Suspects and irreconcilable incorrigibles, as well as our grifting drifting encampments of the false-establishment's cyber troll army and word watch snoops. Good day!

The problem with the art is the "title": 16 Signs the Middle class is Running out of Money

The middle class is not running out of money so much as the "money" is running out of "value."

Then there is this hint at the art's author's flirtation with gate keeping: Americans are living from paycheck to paycheck, and thanks to rising prices

Prices are not rising - the USD (and all currencies for that matter!) is loosing value. When someone professes, like the gatekeeper that pasted this article together, the problem is higher prices, like it's some kind of organic process, and not the bleed of sovereign value due to CB's nerd turd theatrical attempt to rehabilitate counterfeiting under guise of "quantitative easing", yaz gotz to knowz an over paid agenda shill wrote it.

Thanks to all the sanctions ZOG's UN has allowed, we now export more than half the gasoline refined in the the US. Dey running out of sanction-able targets. - that's the problem. The Keystone pipleline - is for the export market.

The Fed just paid the White Shoe Boys in the counting rooms of Kosher Nostra primaries a handsome commission, courtesy of the commons enslavement, a sizable margin stand to carry 85 Billion worth of Treasuries from Tiny Turbo Tim's Jack-Off-Lew room to the Fed's "shoe-box".

The fact of the matter is that America is broke ... hold on buckaroo - America ain't broke - there's plenty of value and money here - it's just that it's all been concentrated in the vault's of the Houses of the War Usury - thanks to the commons' complacency and the daft repetitive re-selections of the same old corrupted genetics of the K-Street Kiddie Brothel Johnnies gad flying on CSPAN/MSM between feeding their limp zipper dragons to pre-schoolers in the Senate and House cloak rooms.

Everything they have is ours. Their homes - their cars - the rented preschoolers - their bonuses - their teeny boners - the drool of expensive tequila, or Mountain Goat Schnapps,  hanging from their withered lips - their lives - their livelihood - IT'S ALL OURS! We own the fucks and all we gotta do is take it back. The DHS Dyke Fuhrer buys 2 Billion bullets - so fucking what - they ain't got enough bullets - think about it - it took over 400 Thousand bullets to kill one Afghani mother-father-child / each,  and over 300 Thousand bullets to kill one Iraqi mother-father-child.  The calculation for the number of bullets required to kill a Million Iraqi, out of a population of 25 Million can be stated thus: 1 Million x 300 Thousand, or , 30,000,000,000. (one exception, it only took a single 50 cal shot for a US sniper to take Pat Tillman's head off after he was quoted to say, "This war is fucking illegal!:

They ain't got enough bullets - they'll never have enough.
THe military will side with the commons - in fact, if we use Noam's ratio, eg, that only 25% of a given culture is predisposed to authoritarianism, meaning that 75% are functionally and organically human, then most of the the rank and file uniformed and civil service will immediately side with the commons. Most of the 25% authoritarians are only "functionally" predisposed, and will commit when the coming reality shock wakes them from safety of their ostrich hole dream state, will side with the ocean of 300 Million American descendants of baby killers and king disemboweling humans slow roasting K-Street Kiddie Brothel Johnnie flanks on their back yard grill!

Headline days back, Greek public servants hire Black Water thugs for crowd control in wake of Goldman's engineered collapse. Lets run this scenario for America: Blackwater thugs disburse across America for crowd control - Americans leach into North Carolina's Black Water Simi Valley Compounds and make cat food out of TDY'd Black Water employees' families.

They don't stand a chance - and this is the crux of the pampered megalomaniac K-Street Johnnies the Diebold selects for CSPAN/MSM make up primps - they think they are doing some weird imagined god's work and protected by some eternal impenetrable force field - what can be said - they're food - they got another thing coming - they are lambs self prepared for slaughter.

IMO, MR at WRH mimes my sentiment - that they'll eventually have to feed on themselves - like a self destroying tumor. For those of us in the other school, as why is Wal Mart out of Bullets - cause everybody has stocked up. There will be plenty of assault weapons (and other gadgets of death) to be had once the mercs make the fatal mistake of entering our hoods. The commons owns all them death assets - and the only thing that will come out of it is that those assets will be returned to the commons by hook crook or mearc meat chili cook offs. Instead of thinking, " You can take my gun from my cold dead hand", the other school should be thing, "You try to take my gun, you'll be dead".

The CSPAN Johnnies are now selling the commons' assets, (collateral calls) to foreign investors. China has banks, access to the FED Window. Turn Pikes have been sold - many once-no-toll roads are being converted to toll roads for eventual sale. Pieces of our national parks and other treasures are being considered for sell - why not just out source our governance and authorizations to Chinese public servants - they doing a pretty good job for the Chinese. Shit - a lot of patents belonging to the commons are all ready in the hands of China thanks to to their clever manipulation of US high Tech companies to produce in China - AAPL, GE, etc - the Chinese don't need to hack us - they get a steady supply of US secrets and patents from relocated US firms - oh - yeah - and captured drones that drop birds-with-colic sharts all over the place.

Cannot believe foreigners are risking capital for fixed US assets. We still got eminent domain and we can take it back any time we want - perhaps that will be the K-Street Johnnies tipping point - when we hear whispers of "disposing" of, or "repealing" eminent domain.

Eating polico and / or banker children tenderloins is an almost palatable thought - that's why we've been pampering the self anointed neo-noble drama queens thinking they be doing god's work - to keep their flanks, and the veal  of their offspring, tender for the spit - but what does one do with a  fat drug laced  merc carcass (?)  - guessing the commons can crack-em into fuel an solvents.

We've alreasy beaten these thugs - look at our numbers - see their fear - they're fucking food bitch and dat be all dey were ever intended to be.

Happy Eating!

Sun, 03/03/2013 - 13:04 | 3295471 CPL
CPL's picture

That.

Was.

Awesome.

Sat, 03/02/2013 - 15:46 | 3293850 Aussiekiwi
Aussiekiwi's picture

No Im not, got a new credit card only the other day, let the good times roll.

Sat, 03/02/2013 - 15:50 | 3293854 NumberNone
NumberNone's picture

What a bunch of selfish bastards.  Don't the muppets know our government has been sequestered is now having to give up almost 1.2% of their budgets? The public need to quit thinking about themselves and focus on what's really important.  

Sat, 03/02/2013 - 16:23 | 3293928 CPL
CPL's picture

...and only a 1% pay raise and a reduction in all payable insurance benefits to the defined insurance and pension plans from this point forward.  aka Nobody is going to get paid soon.  Exactly repeat of Greece in process and execution.

 

Man it's going to explode horribly.

Sat, 03/02/2013 - 16:49 | 3293947 Lucius Corneliu...
Lucius Cornelius Sulla's picture

Nothing will explode.  The welfare/warfare police state is in total control.  Most people in the USA have no concept of taking personal responsibility and independence.  I am surrounded by a bunch of whining pussys.

Sat, 03/02/2013 - 17:52 | 3294110 CPL
CPL's picture

What did you think Greece was?  And what do you think it looks like from the otherside now?

Sun, 03/03/2013 - 00:37 | 3294803 Totentänzerlied
Totentänzerlied's picture

Interesting fact about Greece, they are more reliant on oil and gas than, to my knowledge, any other advanced-economy nation. Surely it's just a coincidence they're the first and the worst.

Sat, 03/02/2013 - 19:04 | 3294226 clara-to-market
Sat, 03/02/2013 - 19:30 | 3294289 dbTX
dbTX's picture

So is the muppertier

Sat, 03/02/2013 - 19:31 | 3294292 dbTX
dbTX's picture

So is the muppertier

Sat, 03/02/2013 - 13:14 | 3293537 Atlantis Consigliore
Atlantis Consigliore's picture

selling out stocks bonds all they way up, writing calls;  

the chicago economy is collapsing, home sales/ foreclosures soaring,

Main street alpha bit media lies, denies and comcast owned nbc  with the idiots all screaming buy buy buy LOL.

cash 100% 

Sat, 03/02/2013 - 13:20 | 3293552 Bam_Man
Bam_Man's picture

"the chicago economy"

That's a good one! I can't stop laughing! 

Sat, 03/02/2013 - 13:39 | 3293582 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

"In the meanwhile, those that are wise are taking advantage of these times of plenty to prepare for the great economic drought that is coming."

Plenty of what?

Sat, 03/02/2013 - 13:51 | 3293602 JohnnyBriefcase
JohnnyBriefcase's picture

Cheap silver and shit.

 

28.58 lol

 

Ammo was cheap if you bought last year.

Sat, 03/02/2013 - 15:26 | 3293801 mjcOH1
mjcOH1's picture

""In the meanwhile, those that are wise are taking advantage of these times of plenty to prepare for the great economic drought that is coming."

Plenty of what?"

Food. For now.

Sat, 03/02/2013 - 14:27 | 3293674 tango
tango's picture

Things - PM, pantry supplies, property, land, art, machines - anything solid.  We are still purchasing land, only a small part of which is for investment purposes.  Silver bars are like a Federal spending cut - non-existent.  Had my order in at the shop that used to be overrun in them for weeks.  

Sat, 03/02/2013 - 14:45 | 3293713 Harbanger
Harbanger's picture

Nice plan.  You must be the little piggie in the brick house.

Sat, 03/02/2013 - 16:00 | 3293882 Jena
Jena's picture

From one little corner of the art world, sales are surprisingly strong.  Bronzes in particular, where the value is obvious.  But it is direct sales, not through galleries.  They're still sitting, waiting for things to get better.

Sat, 03/02/2013 - 18:56 | 3294216 Freddie
Freddie's picture

Bronzes?  Did some theives in the UK grab a Henry Moore (??) big bronze and were going to have it melted down!  LOL!  It was probably fairly priceless and they were trying to get the melt value.  

Sat, 03/02/2013 - 23:51 | 3294758 Jena
Jena's picture

You're right, someone did nearly do that, Freddie.  I admit, it's nearly impossible to find a compelling case for some contemporary art but Henry Moore?  C'mon, there's gotta be some copper wire somewhere...

Sat, 03/02/2013 - 14:02 | 3293627 Tango in the Blight
Tango in the Blight's picture

There hasn't been a Chicago economy since Al Capone was sent to Alcatraz.

Sat, 03/02/2013 - 17:21 | 3294059 Ness.
Ness.'s picture

Not my fault, I couldn't catch the bastard.  

Sat, 03/02/2013 - 18:19 | 3294154 Freddie
Freddie's picture

Chicago is so evil.  They raise taxes on everything and the pension plans are all broke.  Chicago is morphing into Detroit.

Sat, 03/02/2013 - 14:17 | 3293657 God Bless The V...
God Bless The Virtuous's picture

Spot on Atlantis!

Cash is always KING in a depression and this is the mother of all depressions!

Fuck the scumbag socialist cheerleaders of SLOB-AMA like Buffett and Gates!

Buffett is such a lying no good prick, his shareholders should drop this fat cat cunt like a bad penny. Buffett is blowin' Obama and getting sweetheart deals the average American working slob could only dream of!

Obama is the true watchdog for the elites, Barry couldn't give a rats ass for the working stiff, except to bend us over and give us a big STIFF shot right in the ass!

Wake up people, this administration is in league with everything ANTI - AMERICAN!

John Kerry? Really?

Fucking Herman Munster is blowing smoke up the Mullah's asses so much they don't need their Hooka's!

God save the Republic!

Please lord, bring the mighty adulator's down to their knees and expose this evil for the sin against man and the law's of nature the natural world functions within! 

Hey Barry, you and Rahm want to bring a gun to a knife fight? You will have to square the double dealing of your lifetimes with someone far greater than the second rate demigods you believe yourselves to be! You will be held to account,and join the likes of Murtha, Byrd, Kennedy and the rest of your ilk and it sure as HELL wont be in paradise. Join Saul Alinsky(your god Barry) and his Rules for Radicals perversion, the book dedicated to the worlds first radical,

SATAN!

Have fun, you will more than deserve it for the perversion you have unleashed, and Slick Willy will have a special place there for bringing you to the prominence of your throne today! Hey Bill, how do you sleep at night watching this narcissist of your own making?

A pox on all your houses!

Sat, 03/02/2013 - 15:16 | 3293779 Stanley Lord
Stanley Lord's picture

A prefect example of Buffett's crony capitalism is the way his M&T Bank took over my bank Hudson City Savings, the old coot got the bank regulators to shut down Hudson's ability to make money, stock drops and  Buffett comes in and scoops up the best mortgages in America for pennies and gets the bank for nothing. It is shocking that nobody is looking in to this.

Sat, 03/02/2013 - 15:40 | 3293836 Loanman26
Loanman26's picture

Stosh,

 Nobody is going to be looking in to this.

Lets just say the SEC has its hands full. 

Sat, 03/02/2013 - 16:42 | 3293989 fiftybagger
fiftybagger's picture

15 Yet thou shalt be brought down to hell, to the sides of the pit.

16 They that see thee shall narrowly look upon thee, and consider thee, saying, Is this the man that made the earth to tremble, that did shake kingdoms;

17 That made the world as a wilderness, and destroyed the cities thereof; that opened not the house of his prisoners?

18 All the kings of the nations, even all of them, lie in glory, every one in his own house.

19 But thou art cast out of thy grave like an abominable branch, and as the raiment of those that are slain, thrust through with a sword, that go down to the stones of the pit; as a carcase trodden under feet.

20 Thou shalt not be joined with them in burial, because thou hast destroyed thy land, and slain thy people: the seed of evildoers shall never be renowned.

Isaiah 14
King James Version

Sun, 03/03/2013 - 00:53 | 3294822 willwork4food
willwork4food's picture

wtf?

Sat, 03/02/2013 - 17:00 | 3294019 The Heart
The Heart's picture

"John Kerry? Really?"

There is a real dire in your face reason for Swiftboat kerry being put in to the political place he is in. His whole make up is all about war. The timing of his placement coincides perfectly with the globalist plans to set America up to be slaughtered in the coming world war. See 'population reduction' agenda 21. One has to consider the school of WAR this criminal comes from. He, and his skull and boneser buddies are all being set up to profit in this next war. All one has to do is watch the MIC and all the heads of that industry to see what is coming. See exactly WHO is profiting and one might discover a vast network of the bonesies in the war making trade. Lookie there, is that the almost dead daddy(poppy) bush at the top of the ladder of corruption that is killing America? Is the MIC alone responsible for killing America as planed? Betcha when those CEO's and assorted minion heads all get on a plane to leave the country, it will then be time to batten down the hatches mates.

http://www.youtube.com/watch?v=zJO4Chs7-lg

Sun, 03/03/2013 - 19:28 | 3296152 malek
malek's picture

I think you should qualify your statement:

Cash is always KING in a depression if the gov't isn't trying to debase the currency at an even faster rate.

Sat, 03/02/2013 - 13:15 | 3293540 Stoploss
Stoploss's picture

Debt jubilee on the horizon...

Sat, 03/02/2013 - 13:25 | 3293558 Dre4dwolf
Dre4dwolf's picture

First it has to click in the minds of Americans that all their debts have been paid off ANYWAY.

Bank: O we made 1000000000000000 in bad loans, (really they just printed money out of nothing taking no risk and handed it out to debtors demanding "repayment" of something that never existed in the first place).

Then

they faked a crisis

got "bailed out" (the govt AKA TAXPAYER bought up all the "bad debt" 10 times over at inflated prices).

 

Then the banks have the nerve to foreclose on TAXPAYERS homes ;P....

 

The irony of it all, it just stinks to high heaven.

Taxpayers, Buying their own debt and then being foreclosed on.

Thats like a taxpayer buying his/her own noose to hang themself with.... except at these prices the noose is made of solid gold chain links and about 1000 feet too long, chances are when they go to hang themselves they will hit the floor and be crushed by the weight of the chain instead.

Actually, that analogy doesn't really do justice to the truth of it all, 

Its more like taxpayers footing the bill for the atomic bomb project and then instead of defending themselves with it, giving "the gadget" to Nazi Germany and ordering all US forces to stand down, huddle into a corner and wait for Hitler to give the order to "eliminate the fools".

 

 

Sat, 03/02/2013 - 13:56 | 3293615 GMadScientist
GMadScientist's picture

I like Steve Keen's "QE for the people" approach to deleveraging; seems to me it would make a good plank in a populist political platform.

 

Sat, 03/02/2013 - 14:29 | 3293678 tango
tango's picture

Well, all the "leading thinkers" - Pelosi, Reid, Obama, Krugman, etc - keep telling us that ever dollar the govt spends generates ____ (fill in blank) in return.  I've asked those who say this (repeatedly) "Then why not give everyone a million dollars?"  A few of the idiots thought I was serious 

Sat, 03/02/2013 - 14:52 | 3293731 GMadScientist
GMadScientist's picture

If they were required to pay down debt with the $1M first, would it be any worse than giving them $1M loans for houses they can't afford?

Sat, 03/02/2013 - 15:30 | 3293816 mjcOH1
mjcOH1's picture

"Then why not give everyone a million dollars?" A few of the idiots thought I was serious."

You weren't? That day will come, and we'll all be millionaires. Multi-millionaires if you have two loaves of bread. You did get your latest $1M stimulus check, right?

Sat, 03/02/2013 - 16:20 | 3293926 GMadScientist
GMadScientist's picture

It may have something to do with my not asking.

Sat, 03/02/2013 - 15:39 | 3293805 Element
Element's picture

TPTB aren't even considering any proposals from Keen, he's much too considerate. Maybe it's because he knows way too much about modelling and simulating Marxist economic theory.

Frankly, the very notion of giving any let alone ALL stimulus money to a bank is literally inconceivable in Australia as absolutely no one would even think of doing that. I mean, why would you? Let alone consider it or propose to actually do it. Because if anyone did that they would rightly be considered completely insane if not an outright criminal fraudster.

So that could be a bit of an impediment for all those entitled Wall Street Marxists.

Sun, 03/03/2013 - 00:41 | 3294806 Totentänzerlied
Totentänzerlied's picture

"I like Steve Keen's "QE for the people" approach to deleveraging"

Oh I bet you do.

Sat, 03/02/2013 - 14:52 | 3293728 CPL
CPL's picture

Not likely.

Sat, 03/02/2013 - 15:27 | 3293804 syntaxterror
syntaxterror's picture

And a debt orgy in the past and present.

Sat, 03/02/2013 - 20:51 | 3294478 DollarMenu
DollarMenu's picture

Referring to the post, #12 states that the student debt bubble will burst.

Since the student debt can't be discharged thru bankruptcy, can some one please explain how a bursting of this 'bubble' would manifest?

There are a lot of kids who drank the Kool-ade and are now suffering big time.

Sat, 03/02/2013 - 13:15 | 3293541 Dre4dwolf
Dre4dwolf's picture

<---- Middle Class

Heading to Atlantic City with the last of my funds.

It's all good, if I lose Bernanke will print me some fresh ones.

Sat, 03/02/2013 - 13:25 | 3293562 yogibear
yogibear's picture

Bernanke and the Fed know their pushing future toilet paper.

Sat, 03/02/2013 - 13:26 | 3293563 Dre4dwolf
Dre4dwolf's picture

Charmin Ultra got nothing on Bernanke.

 

They better watchout Bernanke is gona start impeding on their market share pretty soon.

Sat, 03/02/2013 - 15:19 | 3293787 juslen
juslen's picture

That has a nice ring to it. Chairman Ultra Bernanke. What a prestigious title!

Sat, 03/02/2013 - 15:33 | 3293822 mjcOH1
mjcOH1's picture

How about 'Chairman Charmin Bernanke'. - Best for bear bottoms!

Sat, 03/02/2013 - 13:57 | 3293616 GMadScientist
GMadScientist's picture

Jamie? Lloyd? Vikram? Corzine? Greenberg?

Is that you?!

Sat, 03/02/2013 - 13:18 | 3293549 Bam_Man
Bam_Man's picture

You know things are bad when people can't even afford a Subway sandwich.

I wonder if Mr. Deluca has any particular affinity for horses?

 

Sat, 03/02/2013 - 14:25 | 3293670 No Euros please...
No Euros please we&#039;re British's picture

Would that be the 5" sub or the 11" sub?

Sat, 03/02/2013 - 16:33 | 3293963 Matt
Matt's picture

Supposedly, the problem with undersized subs is that the person proofing the bread is not leaving the bread in the proofer long enough, so the bread does not rise fully to a whole 12". The weight of the sandwich is the same, the bread is just shorter. Could be lazy workers, or could be cut backs causing bread to be produced hurriedly.

Sun, 03/03/2013 - 00:42 | 3294809 Totentänzerlied
Totentänzerlied's picture

No one should be eating that diabetes-fuel regardless of the extent of its leavening.

Sat, 03/02/2013 - 17:36 | 3294087 Tijuana Donkey Show
Tijuana Donkey Show's picture

Neigh!!!!!

Sat, 03/02/2013 - 13:45 | 3293555 francis_sawyer
francis_sawyer's picture

 AmeriKA ~ Fuck yea!

~~~

“The Communist Manifesto” proclaims — [The Middle Class] “stands half-way between the proletariat and the capitalist class. Being a necessary complement of capitalist society, this class is constantly being reborn.” Composed of extremely mixed elements of the pre-capitalist epoch — the so-called “toiling intelligentsia,” the lackeys of the capitalist class — this class was to be found, in France, in Switzerland, and to a certain extent in Germany, at the advanced posts of the revolution of 1848. According to “The Communist Manifesto,“ the Communists were to support the various party groupings of these elements, while the latter were in opposition, understanding clearly, however, that if the representatives of the lower middle-class were really revolutionary in sentiment, it was only when faced with their immediate descent into the ranks of the proletariat.

~~~

Note: The 'Manifesto' was not simply 'economic' doctrine... It equally encapsulated the notion that the major part of the MIDDLE CLASS were Protestants... In the Soviet Union [& more importantly ~ 'intelligista' regions of Germany], the idea was to crush this class [bringing about both servitude to the state elite PLUS, crush their religious beliefs under atheism with the same blow]... In AmeriKA ~ the 'melting pot' is more diverse [with regards to strands of religions]... So the main impact will be economic [given that the RELIGION of America has become worship of money & Hollywood type glamour & fame]...

This is why the 'JEW vs. JEW' thing... to me... is so comical... Forget about the Russian Revolution... It's done... Mission accomplished... Orthodox Christianity was crushed & the Bolshevik Jews were used as agents for that purpose... But the Bolsheviks themselves were mere agents, NOT masterminds...

In America, that's why there's so much 'Jew' representation in banking, & media... There IS NO RELIGION in America, [so the RELIGION has to be power, money, & glamour]... In order to make a caricature of that, you need a breed that is capable of taking that concept to the 9's... [Enter the jews ~ who are quite formidable in that respect]... But when it's time for the bathtub to be drained, those same agents will go down as well...

The ELITE... Whose goal is only a handful at the top [& the rest ~ serfs], need the occasional 'anti-thesis' to emerge... The battleground for that 'antithesis' [where Hegelian dialectics exist], is always the MIDDLE CLASS [& also 'what they worship']... When you later destroy what they worship, you break their spirit & the elites get what they want...

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