May 15, 2009 9:07 PM
From Tech Ticker (ht Rolfe Winkler)…
“…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.”
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Excellent clip. I agree with most of what he says.
The point he makes on ineffiecent use of capital is the whole/real/scary problem.
Making payments to unions isn’t investing — it’s a cost.
For the average person however, that may be counterintuitive.