“The harsh reality is that Starbucks is a microcosm of scores of enterprises that have come to comprise the core of the U.S. Bubble economy. The economic viability of so many businesses and even industries will be in jeopardy in the unfolding credit and financial landscape. The stock market is still in the early stage of discounting the unfolding credit and economic bust. And I’ll reiterate that we expect the unfolding economic adjustment to be of such a magnitude as to be classified as an economic depression.” – Doug Noland, The Prudent Bear
Jim’s Quote of the Day:
