If You're Not Petrified, You're Not Paying Attention

[jeffrey]

The green shoots story took a bit of hit this week between data on April retail sales, weekly jobless claims and foreclosures. But the whole concept of the economy finding its footing was "preposterous" to begin with, says Howard Davidowitz, chairman of Davidowitz & Associates.

"We're in a complete mess and the consumer is smart enough to know it," says Davidowitz, whose firm does consulting for the retail industry. "If the consumer isn't petrified, he or she is a damn fool...

"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

[Inkstain82]

Someone is bearish, even apocalyptic, on the economy? That's only happened every 10 seconds for the last three hundred years.

Even if he's right that living standards would go on a 10-year-decline, I'm not too "petrified." There's a lot of room to decline and still be pretty comfortable.