Is the end near
This Bloomberg story makes one’s stomach turn a bit. Not just what it says about the economy, which can only be negative, but also the increasing gap between the working poor and the “advisory” rich, as per this New York Times piece.
Can you imagine the palate you’d have to have to distinguish a $14,950 bottle of ’95 Dom (6 litres that is) versus, say, a $134.95 bottle from ’98 (just 750ml however)?
If you own four houses, perhaps you should get off one of them before the vacation home market goes totally in the tank…but hasn’t the Florida big ticket market already come off? One high end Florida real estate broker admitted that not one of his 42 listings moved in the first 6 months of the year.
Best Buy is starting their Boxing Day Sale online on Christmas Eve. The Hudson’s Bay Company has already marked much of their stuff down by 25%.
Bad omens all ’round, both economic and social.