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Retail analyst: “Obama depression continues to explode”

July 11, 2011 Leave a comment

Even the dollar stores aren’t immune to the failures of Keynesianism on steroids, porkulus, Obamanomics and Decmocratic economic stewardship:

While the demand at stores like the 99-Cent Store or Dollar Tree is still relatively high, the biggest chains in the nation have fallen short of Wall Street’s expectations for several months, a trend that may prove even more ominous for the economy at large.

“I think what’s going on in those stores is that we are in a depression for 80 percent of Americans,” top retail analyst Howard Davidowitz told KNX 1070.

America’s three largest discount chains — Dollar General Corp., Family Dollar Stores Inc. and Dollar Tree Inc. —  all recently missed their quarterly earnings targets.

Davidowitz pointed to the weakness of the dollar and a gloomy consumer outlook as some of the factors behind the stores’ slump.
“In other words, the economy is continuing to be worse, the Obama depression continues to explode,” he added.

Here’s hoping Peggy Joseph was able to get her mortgage and gas money before the cash runs out.