Wednesday, January 13, 2010

Walmart closing stores and laying off 1,500

Walmart closing stores and laying off staff?  What does that tell you?

Wal-Mart said Monday it will close 10 money-losing Sam's Club stores and cut 1,500 jobs to reduce costs.

Here is a great summary:

11 Clear Signs That The U.S. Economy Is Headed Into The Toilet

In San Fransciso and Oakland area, court bankruptcy filings are up 40% from 2008.

“There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.”
- Ludwig von Mises

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