Howard Davidowitz: 'The Worst Is Yet to Come' 9 comments
an article to
-
Font Size:
-
Print
- TweetThis
For all those policymakers, "economists," and TV pundits whose thinking has been clouded by the "green shoots" they've been smoking lately, I've got the perfect antidote: Howard Davidowitz.
In fact, if the reality described by this retail industry consultant in the following Yahoo! Finance Tech Ticker column (and accompanying video). "'The Worst Is Yet to Come': If You're Not Petrified, You're Not Paying Attention," doesn't sober these delusiabulls up quickly, I'm afraid nothing will.
The green shoots story took a bit of hit this week between data on April retail sales, weekly jobless claims and foreclosures. But the whole concept of the economy finding its footing was "preposterous" to begin with, says Howard Davidowitz, chairman of Davidowitz & Associates.
"We're in a complete mess and the consumer is smart enough to know it," says Davidowitz, whose firm does consulting for the retail industry. "If the consumer isn't petrified, he or she is a damn fool."
Davidowitz, who is nothing if not opinionated (and colorful), paints a very grim picture: "The worst is yet to come with consumers and banks," he says. "This country is going into a 10-year decline. Living standards will never be the same."
Related Articles
|






















- Commercial real estate implosion is round the corner - it will have even bigger catastrophic impact on the banks.
- Consumer savings: US consumer will go from negative savings to 10% (already up to 4% now). This itself will shrink the economy by more than a Trillion.
- Job Losses: These will go way north of 12%
- Housing: 20-30% downside still exits – job losses, excess inventory of homes, lack of credit availability, lack of credit worthy borrowers
The current rally was orchestrated enable banks raise money. Some foolish investors did pony up the money, despite buying stocks at discount are already down.
The west is facing the biggest event probably ever- and no knows or even cares! Talk about a perverbial frog in a pot of near boiling water!
There is no possible way the USA can hold present course and standard with these debt levels, I am shocked we have lasted this long. Just goes to shows how much control bankers actually have on "the system"
Instead of looking for green shoots, we should all be trying to get rid of the chickens in the garden, green shoots are just beggging to be gobbled up!
For instance, with auto dealerships shutting down.