Debt Rattle August 11 2016
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G. G. Bain The new Queensboro (59th Street) Bridge over the East River, NYC 1909 • ‘Deutsche Bank Must Be Nationalized’ (Express) • Deutsche Bank Capi
[See the full post at: Debt Rattle August 11 2016]A lovely example of the state of “growth”. Macy’s, the huge department store- has been cutting prices to get sales – which has partially worked; but not enough; so they will close 100 stores. So; of course, their stock is sharply – up.
“Macy’s reported Thursday fiscal second-quarter sales and earnings that topped analysts’ expectations, as shoppers responded to the department store’s steep discounts. Yet with sales still on the decline, the retailer said it will shutter 100 locations to focus on its best-performing stores.
“The company’s shares shot more than 15 percent higher in early trading.”
https://www.cnbc.com/2016/08/11/macys-reports-second-quarter-earnings.html
This is a world wide pattern, I think. In biology, this is known as “autophagy” – literally eating oneself. Yep, those at the top will eat well; for a while. but… the outcome is predictable.
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