The Retail Death Rattle Grows Louder

Tyler Durden's picture

Submitted by Jim Quinn of The Burning Platform blog,

The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches.

It was exactly four months ago when I wrote THE RETAIL DEATH RATTLE. Here are a few terse anecdotes from that article:

The absolute collapse in retail visitor counts is the warning siren that this country is about to collide with the reality Americans have run out of time, money, jobs, and illusions. The exponential growth model, built upon a never ending flow of consumer credit and an endless supply of cheap fuel, has reached its limit of growth. The titans of Wall Street and their puppets in Washington D.C. have wrung every drop of faux wealth from the dying middle class. There are nothing left but withering carcasses and bleached bones.

Once the Wall Street created fraud collapsed and the waves of delusion subsided, retailers have been revealed to be swimming naked. Their relentless expansion, based on exponential growth, cannibalized itself, new store construction ground to a halt, sales and profits have declined, and the inevitable closing of thousands of stores has begun.

The implications of this long and winding road to ruin are far reaching. Store closings so far have only been a ripple compared to the tsunami coming to right size the industry for a future of declining spending. Over the next five to ten years, tens of thousands of stores will be shuttered. Companies like JC Penney, Sears and Radio Shack will go bankrupt and become historical footnotes. Considering retail employment is lower today than it was in 2002 before the massive retail expansion, the future will see in excess of 1 million retail workers lose their jobs. Bernanke and the Feds have allowed real estate mall owners to roll over non-performing loans and pretend they are generating enough rental income to cover their loan obligations. As more stores go dark, this little game of extend and pretend will come to an end.

Retail store results for the 1st quarter of 2014 have been rolling in over the last week. It seems the hideous government reported retail sales results over the last six months are being confirmed by the dying bricks and mortar mega-chains. In case you missed the corporate mainstream media not reporting the facts and doing their usual positive spin, here are the absolutely dreadful headlines:

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%

Target Profit Plunges by $80 Million, 16% Lower Than 2013, as Store Traffic Declines by 2.3%

Sears Loses $358 Million in First Quarter as Comparable Store Sales at Sears Plunge by 7.8% and Sales at Kmart Plunge by 5.1%

JC Penney Thrilled With Loss of Only $358 Million For the Quarter

Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%

Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%

Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores

Gap Income Drops 22% as Same Store Sales Fall

American Eagle Profits Tumble 86%, Will Close 150 Stores

Aeropostale Losses $77 Million as Sales Collapse by 12%

Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%

Macy’s Profit Flat as Comparable Store Sales decline by 1.4%

Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%

Urban Outfitters Earnings Collapse by 20% as Sales Stagnate

McDonalds Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%

Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster

TJX Misses Earnings Expectations as Sales & Earnings Flat

Dick’s Misses Earnings Expectations as Golf Store Sales Plummet

Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%

Lowes Misses Earnings Expectations as Customer Traffic was Flat

Of course, those headlines were never reported. I went to each earnings report and gathered the info that should have been reported by the CNBC bimbos and hacks. Anything you heard surely had a Wall Street spin attached, like the standard BETTER THAN EXPECTED. I love that one. At the start of the quarter the Wall Street shysters post earnings expectations. As the quarter progresses, the company whispers the bad news to Wall Street and the earnings expectations are lowered. Then the company beats the lowered earnings expectation by a penny and the Wall Street scum hail it as a great achievement.  The muppets must be sacrificed to sustain the Wall Street bonus pool. Wall Street investment bank geniuses rated JC Penney a buy from $85 per share in 2007 all the way down to $5 a share in 2013. No more needs to be said about Wall Street “analysis”.

It seems even the lowered expectation scam hasn’t worked this time. U.S. retailer profits have missed lowered expectations by the most in 13 years. They generally “beat” expectations by 3% when the game is being played properly. They’ve missed expectations in the 1st quarter by 3.2%, the worst miss since the fourth quarter of 2000. If my memory serves me right, I believe the economy entered recession shortly thereafter. The brilliant Ivy League trained Wall Street MBAs, earning high six digit salaries on Wall Street, predicted a 13% increase in retailer profits for the first quarter. A monkey with a magic 8 ball could do a better job than these Wall Street big swinging dicks.

The highly compensated flunkies who sit in the corner CEO office of the mega-retail chains trotted out the usual drivel about cold and snowy winter weather and looking forward to tremendous success over the remainder of the year. How do these excuse machine CEO’s explain the success of many high end retailers during the first quarter? Doesn’t weather impact stores that cater to the .01%? The continued unrelenting decline in profits of retailers, dependent upon the working class, couldn’t have anything to do with this chart? It seems only the oligarchs have made much progress over the last four decades.

Screen-Shot-2014-03-29-at-9.23.25-PM.png

Retail CEO gurus all think they have a master plan to revive sales. I’ll let you in on a secret. They don’t really have a plan. They have no idea why they experienced tremendous success from 2000 through 2007, and why their businesses have not revived since the 2008 financial collapse. Retail CEOs are not the sharpest tools in the shed. They were born on third base and thought they hit a triple. Now they are stranded there, with no hope of getting home. They should be figuring out how to position themselves for the multi-year contraction in sales, but their egos and hubris will keep them from taking the actions necessary to keep their companies afloat in the next decade. Bankruptcy awaits. The front line workers will be shit canned and the CEO will get a golden parachute. It’s the American way.

The secret to retail success before 2007 was: create or copy a successful concept; get Wall Street financing and go public ASAP; source all your inventory from Far East slave labor factories; hire thousands of minimum wage level workers to process transactions; build hundreds of new stores every year to cover up the fact the existing stores had deteriorating performance; convince millions of gullible dupes to buy cheap Chinese shit they didn’t need with money they didn’t have; and pretend this didn’t solely rely upon cheap easy debt pumped into the veins of American consumers by the Federal Reserve and their Wall Street bank owners. The financial crisis in 2008 revealed everyone was swimming naked, when the tide of easy credit subsided.

The pundits, politicians and delusional retail CEOs continue to await the revival of retail sales as if reality doesn’t exist. The 1 million retail stores, 109,000 shopping centers, and nearly 15 billion square feet of retail space for an aging, increasingly impoverished, and savings poor populace might be a tad too much and will require a slight downsizing – say 3 or 4 billion square feet. Considering the debt fueled frenzy from 2000 through 2008 added 2.7 billion square feet to our suburban sprawl concrete landscape, a divestiture of that foolish investment will be the floor. If you think there are a lot of SPACE AVAILABLE signs dotting the countryside, you ain’t seen nothing yet. The mega-chains have already halted all expansion. That was the first step. The weaker players like Radio Shack, Sears, Family Dollar, Coldwater Creek, Staples, Barnes & Noble, Blockbuster and dozens of others are already closing stores by the hundreds. Thousands more will follow.

This isn’t some doom and gloom prediction based on nothing but my opinion. This is the inevitable result of demographic certainties, unequivocal data, and the consequences of a retailer herd mentality and lemming like behavior of consumers. The open and shut case for further shuttering of 3 to 4 billion square feet of retail is as follows:

  • There is 47 square feet of retail space per person in America. This is 8 times as much as any other country on earth. This is up from 38 square feet in 2005; 30 square feet in 2000; 19 square feet in 1990; and 4 square feet in 1960. If we just revert to 2005 levels, 3 billion square feet would need to go dark. Does that sound outrageous?

  • Annual consumer expenditures by those over 65 years old drop by 40% from their highest spending years from 45 to 54 years old. The number of Americans turning 65 will increase by 10,000 per day for the next 16 years. There were 35 million Americans over 65 in 2000, accounting for 12% of the total population. By 2030 there will be 70 million Americans over 65, accounting for 20% of the total population. Do you think that bodes well for retailers?

  • Half of Americans between the ages of 50 and 64 have no retirement savings. The other half has accumulated $52,000 or less. It seems the debt financed consumer product orgy of the last two decades has left most people nearly penniless. More than 50% of workers aged 25 to 44 report they have less than $10,000 of total savings.

  • The lack of retirement and general savings is reflected in the historically low personal savings rate of a miniscule 3.8%. Before the materialistic frenzy of the last couple decades, rational Americans used to save 10% or more of their personal income. With virtually no savings as they approach their retirement years and an already extremely low savings rate, do retail CEOs really see a spending revival on the horizon?

  • If you thought the savings rate was so low because consumers are flush with cash and so optimistic about their job prospects they are unconcerned about the need to save for a rainy day, you would be wrong. It has been raining for the last 14 years. Real median household income is 7.5% lower today than it was in 2001. Retailers added 2.7 billion square feet of retail space as real household income fell. Sounds rational.

  • This decline in household income may have something to do with the labor participation rate plummeting to the lowest level since 1978. There are 247.4 million working age Americans and only 145.7 million of them employed (19 million part-time; 9 million self-employed; 20 million employed by the government). There are 92 million Americans, who according to the government have willingly left the workforce, up by 13.3 million since 2007 when over 146 million Americans were employed. You’d have to be a brainless twit to believe the unemployment rate is really 6.3% today. Retail sales would be booming if the unemployment rate was really that low.

  • With a 16.5% increase in working age Americans since 2000 and only a 6.5% increase in employed Americans, along with declining real household income, an inquisitive person might wonder how retail sales were able to grow from $3.3 trillion in 2000 to $5.1 trillion in 2013 – a 55% increase. You need to look no further than your friendly Too Big To Trust Wall Street banks for the answer. In the olden days of the 1970s and early 1980s Americans put 10% to 20% down to buy a house and then systematically built up equity by making their monthly payments. The Ivy League financial engineers created “exotic” (toxic) mortgage products requiring no money down, no principal payments, and no proof you could make a payment, in their control fraud scheme to fleece the American sheeple. Their propaganda machine convinced millions more to use their homes as an ATM, because home prices never drop. Just ask Ben Bernanke. Even after the Bernanke/Blackrock fake housing recovery (actual mortgage originations now at 1978 levels) household real estate percent equity is barely above 50%, well below the 70% levels before the Wall Street induced debt debacle. With the housing market about to head south again, the home equity ATM will have an Out of Order sign on it.

  • We hear the endless drivel from disingenuous Keynesian nitwits about government and consumer austerity being the cause of our stagnating economy. My definition of austerity would be an actual reduction in spending and debt accumulation. It seems during this time of austerity total credit market debt has RISEN from $53.5 trillion in 2009 to $59 trillion today. Not exactly austere, as the Federal government adds $2.2 billion PER DAY to the national debt, saddling future generations with the bill for our inability to confront reality. The American consumer has not retrenched, as the CNBC bimbos and bozos would have you believe. Consumer credit reached an all-time high of $3.14 trillion in March, up from $2.52 trillion in 2010. That doesn’t sound too austere to me. Of course, this increase is solely due to Obamanomics and Bernanke’s $3 trillion gift to his Wall Street owners. The doling out of $645 billion to subprime college “students” and subprime auto “buyers” since 2010 accounts for more than 100% of the increase. The losses on these asinine loans will be epic. Credit card debt has actually fallen as people realize it is their last lifeline. They are using credit cards to pay income taxes, real estate taxes, higher energy costs, higher food costs, and the other necessities of life.

The entire engineered “recovery” since 2009 has been nothing but a Federal Reserve/U.S. Treasury conceived, debt manufactured scam. These highly educated lackeys for the establishment have been tasked with keeping the U.S. Titanic afloat until the oligarchs can safely depart on the lifeboats with all the ship’s jewels safely stowed in their pockets. There has been no housing recovery. There has been no jobs recovery. There has been no auto sales recovery. Giving a vehicle to someone with a 580 credit score with a 0% seven year loan is not a sale. It’s a repossession in waiting. The government supplied student loans are going to functional illiterates who are majoring in texting, facebooking and twittering. Do you think these indebted University of Phoenix dropouts living in their parents’ basements are going to spur a housing and retail sales recovery? This Keynesian “solution” was designed to produce the appearance of recovery, convince the masses to resume their debt based consumption, and add more treasure into the vaults of the Wall Street banks.

The master plan has failed miserably in reviving the economy. Savings, capital investment, and debt reduction are the necessary ingredients for a sustained healthy economic system. Debt based personal consumption of cheap foreign produced baubles & gadgets, $1 trillion government deficits to sustain the warfare/welfare state, along with a corrupt political and rigged financial system are the explosive concoction which will blow our economic system sky high. Facts can be ignored. Media propaganda can convince the willfully ignorant to remain so. The Federal Reserve can buy every Treasury bond issued to fund an out of control government. But eventually reality will shatter the delusions of millions as the debt based Ponzi scheme will run out of dupes and collapse in a flaming heap.

The inevitable shuttering of at least 3 billion square feet of retail space is a certainty. The aging demographics of the U.S. population, dire economic situation of both young and old, and sheer lunacy of the retail expansion since 2000, guarantee a future of ghost malls, decaying weed infested empty parking lots, retailer bankruptcies, real estate developer bankruptcies, massive loan losses for the banking industry, and the loss of millions of retail jobs. Since I always look for a silver lining in a black cloud, I predict a bright future for the SPACE AVAILABLE and GOING OUT OF BUSINESS sign making companies.

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takeaction's picture

Selling like crazy here...have a store and sell electronics, and in Portland Oregon, it is insane.  I CAN NOT FIND good help. I need Remote Start installers and we start at $50K to $80K and have been looking for months.  

RevRex's picture

For years we heard "It's Bush's fault" every time any bit of bad economic news  surfaced.

 

IF "both parties are the same", why is NOTHING ever Obama's fault?

NihilistZero's picture

When will people stop posting dumb fuck comments questioning that their is a diffrence betwen the parties?

I could give to shits about what they say, I look at what they do.

Tax me.  Infringe upon my liberty.  Attempt to control the very thought in my head.

Team Red and Team Blue do all of the above in differing but ultimately equal ways.

Wake.  Up.

Headbanger's picture

Two shits is twice as much as I could give about it.

Yes We Can. But Lets Not.'s picture

OT: ZH'ers, when Snowden/Greenwald soon release their list of Americans the NSA has been spying on...

http://www.realclearpolitics.com/articles/2014/05/26/greenwalds_finale_n...

... if you find your name on the list, let your friends here at ZH know, so we can collectively confirm whether our gubmint views those who speak freely as trrists...

Shocker's picture

We are so far from a recovery

Full Layoff / Closing List:

http://www.dailyjobcuts.com

-

max2205's picture

And up 10% more on the S&P before sept

max2205's picture

For God's sake. .don't you people know that down in profit means nothing other than CEOs paying themselves moar

 

Worry when sales drop 20%

Christophe2's picture

Yeah, except these evaluations of current and previous year's sales and profits do not take inflation into account, so the numbers would actually need to increase by more than 5-10% just to break even in (real)inflation-adjusted dollars...

markmotive's picture

Bricks and Mortar is dead. 

Poetic injustice's picture

Offtopic to yoru offtopic. USA tries to get another crap agreement through:

https://www.pirateparty.org.uk/campaigns/issues/ttip-trading-away-our-ri...

Which is even more draconian that first 2 tries.

Yes We Can. But Lets Not.'s picture

Following up my prior post, here is the link to the website where Greenwald/Snowden will soon publish the list of names of Americans the NSA has been spying on.

https://firstlook.org/theintercept/about/

I am very eager to see that list, and am thankful to Greenwald, hero Snowden, and eBay founder Omidyar, who founded The Intercept which will be publishing the list of names.

Should be very interesting.  Would be big news here in the States if US media was not a disgrace.

 

UselessEater's picture

Interesting, one of my first thoughts was: Employers recruiting often check social media eg FB accounts of applicants; wonder if they'll now check to see if an applicant appears on the NSA spying list? Its possible a business might decide to avoid recruiting a candidate on the list.

I'm not against the disclosure per se; I'm just wondering how it could potentially be used by various parties that may and may not benefit those named.

Also, will people who are not on list decide they're OK and its someone elses problem they probably deserved...i.e. the boiling-frog-thinking? (I guess I am still waiting to see any real evidence that the leaks are creating reforms beyond mild outrage among a few).

Buck Johnson's picture

Isn't it funny that Gregory has an interview with Snowden that is supposed to air pretty soon?  And then this about posting who the NSA was watching.  I bet we are going to see some major and I do mean major names in that list.  And for him to post it it truly means there is some real juicy things in it. 

Hulk's picture

Too shit or not  two shit, that is the question !!!

imapopulistnow's picture

Too shit to shit two shits.

RevRex's picture

When will sniveling cowards explain WHY the media treats both parties so differently if they are both "the same"?

 

 

saints51's picture

I will try.

 

Each party is a different team and each MSM has a favorite team. So they will pump and protect that said team until the end of it. At the end of the day both teams play under one league with the owners collecting the revenue for your participation in the system by choosing a team. May not be the best example, but I tried to make it as simple as possible for the sheeple to understand.

ebworthen's picture

Yes...and further...a majority of the MSM feeds the left because they need it more, while the minority conservative outlets feed the neocon need to justify their minority status and that "bringing America back" is just around the corner.  The beliefs must be maintained.

duo's picture

If both parties conspire to ensure that not ONE candidate that represents my interests is running in the general elections at all levels, is that VOTER SUPRESSION?

McMolotov's picture

You'd think this would be obvious to people by now since one of the things Democrats and Republicans always unite on is limiting ballot access by third parties, and it happens at all levels of the system. It's a rigged game.

And since actions speak louder than words, I look at how the two parties govern versus their rhetoric. No matter who's in charge, the government grows larger and power becomes more centralized. This is why I don't give a shit whether ABC is in the tank for Obama or Fox News is in the tank for Romney.

They're all shills for the status quo of statism.

EDIT: Back on topic, Kohl's must be led by fucking retards. I get a "$10 gift" thing in the mail about once a month. They must expect me to be excited and go spend $30 to save $10. I buy some chocolate that adds up to $10. They are literally giving me free chocolate at least once a month. Morons.

duo's picture

you mean like when WorldCom would sign up millions for long distance at a high monthly charge (plus a rebate) and they would book the charge right away as revenue and profit, whilst the "rebate" got pushed onto next years expenses?  Similar to how the federal government operates.

Christophe2's picture

"They are literally giving me free chocolate at least once a month. Morons." ...  One could also say that TPTB managed to make you eat more of their gmo-laden, fructose-rich junk foods engineered to make you fat, stupid and sterile...

Eating home-made food is now a necessity - think what these sociopaths who control US society have been doing with the food supply...

McMolotov's picture

One could also say that TPTB managed to make you eat more of their gmo-laden, fructose-rich junk foods engineered to make you fat, stupid and sterile...

One could indeed say that if I weren't eating a plain Godiva dark chocolate bar, which won't kill anyone. As to your other point about home-made food, I couldn't agree more (especially in light of the pink slime resurgence).

thamnosma's picture

Pink slime, the perfect food for the American left

Christophe2's picture

I don't see why those plain chocolate bars would be made with non-gmo, non-pesticide, healthy ingredients, unlike the rest.  You think that the same McDonalds-like mentality isn't present at the other companies?  Max Profits + max near-undetectable pestilence in food - what a way to run a food business!

The good news is that it is designed to make you sick, but not so sick that you can really tell what's killing you!

NihilistZero's picture

RE: McMolotov

Kohl's aren't retards, but many of their customers are.  I do what you do but with items on the clearance rack that by that time are priced closer to what they are actually worth.  After the gift certificates and using the Kohl's Charge discount (paid in full as soon as I receive the bill) I can get my girlfriend some nice clothes at some decent prices.  it also helps that she's 5 foot nothing so I can shop the juniors section :-)

In other words I let the the uninformed shopper/debtors finance my discounts.

DollarMenu's picture

Forget the ballot issues, look at how they limit access to the "debates", blocking members of their own parties.

The whole vote process is a complete sham.

Elections are about money splashing and diversion of attention from real matters that should be discussed, but are not.

Faux games pitting Reds vs Blues, just like they were MLB or NFL teams.

RevRex's picture

"each mainstream media"? 

 

You need to rethink that arguement.

 

THE mainstream media blamed Bush for every single BAD  thing that happened under Bush, because it happened on his watch. They lied about Bush for eight years and still do.

 

THE mainstream media blames NOTHING ON OBAMA, and LIES FOR OBAMA AT EVERY TURN...

 

Would you like to explain WHY that is IF both parties are the same?

 

People repeat that idiotic lie here every day.

 

"both parties are the same" are the words of complete morons......

i_call_you_my_base's picture

You just have a short memory. The "left wing" media cheered the US into war under Bush, and had the same exact view on his house of cards economy.

Serenity Now's picture

They only did that (and I would hardly call it cheering....merely going along with it) because the DEMOCRATS by and large voted for the war.  The minute that was over, they excoriated Bush every day, ran the death tallies on the nightly news, and never supported the WH again.

Why on earth would you put left wing media in quotations?  Do you really think it's a conspiracy theory that the media is left wing?  

ebworthen's picture

We are trying to explain it.

You are stuck in the Matrix.

The liberal media blames Bush because it is red meat for their audience.

The conservative media rails against Obama because it is red meat for their audience.

Both parties are the same; they have to keep feeding you dogs red meat so you fight each other, not them.

saints51's picture

You need 2 sides for a game to be played. I am not saying both parties are the same because if they were, then it wouldn't be a game. What I believe is both parties are exact opposite,yet have the same owners and same end goals. How they get to the ultimate end game is why they split the people. 2 possible scenarios with the same outcome.

g'kar's picture

Picture a dog fight. You have your dogs (sheeple), dog handlers (politicians and media) and gamblers (the bankers).

Dick Buttkiss's picture

". . . and gamblers (the bankers)."

I believe you have them confused with the house, which always wins because it owns the joint, lock, stock, and barrel.

g'kar's picture

I was thinking more on the lines of "The Gamesters of Triskellion"

 

www.youtube.com/watch?v=iig53f6CU9E

imbrbing's picture

They are different only in the sense it gives the voters the illusion of choice between their

differences, in the end what changed when your guy won? Look where we are now, we didnt get

here in a mere 10 or 20 years.

PS: I have no guy and have NEVER voted in my 54 years

CH1's picture

and have NEVER voted in my 54 years

I've certainly voted in the past, but I believe God has forgiven me. :)

OldPhart's picture

No longer voting...except for Sheriff and local shit.

RiverRoad's picture

Both parties are controlled by the Fed.  The Fed doesn't care who the winning puppet is.

Sinnedi's picture

Oh yeah tell that to the CFR who own american media http://m.youtube.com/watch?v=QJNgm4kM24s

Serenity Now's picture

RevRex,

Of course you are right.  "Both parties are the same" is a lazy, immature, disingenuous, and intellectually dishonest comment.  The people who make this comment do so to FEEL superior.  They rarely add anything of substance or intellect to the comments.  Conservative people NEVER make this comment.  It's only liberals and so-called libertarians who make it.  

Only a moron would believe that:

Ron Paul = Hank Johnson

Rand Paul = Harry Reid

Alan West = Maxine Waters

Tom Cotton = Anthony Weiner

Give me a f-ng break.  These examples are night and day.  The two ideologies are night and day.  The chasm between the left and the right is so wide and deep that it will never be bridged.  If you guys want to call out R's who are not conservative and D's who are not progressive, then call them out and make your case.  But give up this childish nonsense that the two sides are the same.

11b40's picture

How about showing us your list of lies told about Bush/Cheney.  There is a good list of lies told BY them.

samsara's picture

Harlem Globetrotters vs the Washington Generals. Works for me.

Soul Glow's picture

Both parties have outlets to promote their fascist ways.

RevRex's picture

I can agree 100% with that statement, just not the idiotic Socialist Semite Mainstream Media's lie that "both parties are the same"...It's amazing how libertarians can be easily tricked into repeating Socialist propaganda.

 

It's odd how the "Both Parties are the same" lie gets louder during election years when the Democrats are down in the polls......

 

Some people will never get it.

Liquid Courage's picture

The article never mentioned Bush ... you brought him up. Nice attempt at hijacking by Red Herring.

CH1's picture

Nice attempt at hijacking by Red Herring.

Yup! If you keep 'em fighting over trivialities, they never see the real enemy.

deflator's picture

 It isn't, "both parties are the same", the outcome of their policies are the same, for example immigration. Dems will tell you immigration is good because multiculturalism is a desirable outcome. Repubs will tell you immigration is good because we need a growing demographic base to maintain economic growth. The outcome is still more immigration.

 It is more like good cop bad cop than, being the same. Another example is social programs like SSI and Medicare, even Obamacare. Dems will say it is the, "fair" thing to do. Repubs vote for social programs because it means more private money gets funneled through government hands enabling constant growth of government. The outcome is the same--government growth.

Chief Wonder Bread's picture

On a point-by-point comparison, I'm not sure the two parties are the same. However, I find I can no longer vote for either one at this time.

Maybe we should think of one as a "mincing rascal" (D) while the other is a "high-level hooligan" (R).