Way Off Wall Street: Retail is the next economic train wreck; expect a Black Friday bust
Posted by: in Products and ServicesFiled under: Products and services, Columns, Sears Holdings (SHLD), Recession, Financial Crisis
Welcome to Way Off Wall Street, a column dedicated to providing Main Street thoughts on topics of interest to investors. Each installment highlights the views of Americans who are far removed from the canyons of Wall Street — and who often see things more clearly as a result.
The current economic downturn began in real estate, ripping through the construction industry as it went. The banks began to crumble next, as declining real estate values pulled their phantom capital support structure from beneath them.
Then Wall Street began quaking, as good faith and trust were swept aside by the realities of mismanagement, fraud, and corruption. Then the insurance industry began to take a kick in the teeth due to its ties to Wall Street’s derivatives securities mill. Soon, we’ll all bear the brunt of yet another round of insurance premium increases as a result.
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