Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

These retailers are going to get a beating

That is putting it mildy. If one thinks that the end of the consumer led spending spree on cheap imported goods will correct itself entirely with a few Kmarts and Zany Brainy closing up, they are sadly mistaken.

Retailers going into bankruptcy is not the big problem, it is the REITs and credit lending companies like CIT, GE Capital which will take the biggest hits. We are so oerstored, we may see a situation develop where lending practices for retial construction may get very tight before retail crunch is over.

Banks off today as biggest loss leaders at 1.3%.

Merry Christmas everyone and go out there as pick up osme of the excesive inventories of unsold goods at the stores. <g>