Friday, January 23, 2009

Where You Won't Shop In 2009 -

I found this very revealing, very to the point article at Forbes. It predicts the closing of many stores of many chains, and the possible complete bankruptcy of some. Where You Won't Shop In 2009 -

The last paragraph is the most fascinating, because, as surprisingly as that may seem to some, I AGREE with it:

[Howard] Davidowitz, [chairman of New York-based retail consultant and investment bank Davidowitz and Associates], doesn't think a huge government stimulus will help. Better to let things bottom out naturally before regrouping. "Obama's plan will make it worse," he says. "We got into this by borrowing and stimulating, now he wants to borrow and stimulate more."
I couldn't agree more. I'm no expert, but I think this idea of "stimulating" and "bailing out" has fallen flat on its face, as I predicted in many earlier posts. It's just not helping. It's time for the government to either stop being Socialist for the wealthy but Capitalist for the rest of us. These bailouts are an incredibly bad idea, have been from the start, and will continue to be until the end. It's one thing I with which I STRONGLY disagree with President Obama, just as strongly as I disagreed with this bailout business with Governor Bush.

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