Davidowitz: US Economy Is Collapsing (Video)
Howard Davidowitz, an expert retail analyst, spoke with Yahoo! Finance about Walmart’s poor earnings report and what it indicates for the rest of the US economy.
The economy is in a state of collapse… I think there’s a 50% chance we’ll be in a recession next year… That’s after spending $7 trillion dollars, printing trillions, and announcing we were brilliant to have done it… We’re in the tank, and by the way, our debt never goes away… We’ve spent all the money, we’ve borrowed all the money, and we’re in the tank…”
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