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So, they have this great fear of a 2% or 3% or 10 % (correction) and do not know what the daisy chain is going to look like and where the contagion is going to land. It could be the Chinese bond market. It could be Italian insolvent banks or it might be Deutsche Bank
Comment:
It was non-performing Joe Sixpack mtg loans that tipped the apple cart the last time. There are still plenty of them out there, but they won’t admit it in their media. Trickle up is failing to work anymore.
Macy’s? Or any big business for example, gets its profits from the masses spending some hard earned money. If the masses are working for chump change, which is what most businesses want, then businesses starve. What goes around comes around.