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Monday, January 14, 2008

Sears is sinking

A few years ago I predicted hard times for Sears. The giant retailer is taking on more water than the Titanic. The stock has lost half its value and investors are in a state of panic. People blame the mortgage meltdown, the liquidity crisis, The high price of fuel, even the weather.

However, the real reason is not the dingy old stores or rude sales clerks, but the fact that the world economy is entering a state of catastrophic collapse. The markets are imploding as the house of cards falls. I saw this happen using the HDR years ago.

Sears is sinking fast. A sign that difficult days lie ahead.