I took this photo in the mall on New Years Day–yes, the stores were actually open on the holiday.
And Macy’s was having a blowout sale with racks and racks of “80% Off Original Price[s].”
We were laughing saying what’s next–99% Off and then even 100% off!
So you think the economy is healthy with fire sales like these on the very first day of the new calendar year–when we still have another 364 days to make our year end sales quotas…
With turbulence around the globe brewing from Iran, Syria, Russia, North Korea, Yemen, Sudan, Nigeria, ISIS, and more…anyone care to say (pending) crisis.
How about commodities–my bet–that are in the toilet (and have been for years now)–do you really think no one needs iron, aluminum, nickel, lead, cooper, potash, oil, gas, coal, diamonds, and gold anymore?
Then the Wall Street Journal warned again today about the overall investment marketplace, asking “How do you invest when everything is expensive? [at 25 times cyclically adjusted earnings–now that’s a fancy term]?
We’ve been down this road before in the bubble bursts and recessions of 2001 and 2008.
Is now really the time for the Federal Reserve to be raising interest rates (and what a nifty ripple effect that will have in both slowing our economy down and raising our interest payments on our already ballooning $18 trillion national debt)?
Oh, technology to the rescue again and again…it’s possible with everything from virtual reality to robotics and artificial intelligence on the cusp…or maybe not this time around. 😉
(Source Photo: Andy Blumenthal)