As Walmart goes, so goes GDP?
Thursday, February 7th, 2008
Walmart’s January same-store sales were just +1% year-over-year. That equals -3% in real terms. And that means down 10% relative to WM’s historic growth.
Imagine GDP down 10%.
This is the kind of quite Thursday when more people throw in the towel and trickle of sellers becomes a gusher as the day passes.
Gee, what if these rate cuts don’t pull us out of the spin. Why did commercial paper rates for XYZ Corp just jump 75 bp?
Cognitive dissonance starts to slip, the pixels re-arrange themselves and the pretty lady becomes a hag.