Saks posted larger than expected drops in earnings for the third quarter. A few years back, when the ecomony sucked, Wal-Mart and Target posted lower earnings but luxury stores were doing well. Now it looks like even the rich are tightening their belts.
You know the economy is really in the toilet when the rich quit shopping. Where are Sarah Palin and the big GOP donors when you need them? There shopping sprees could save a few jobs. What sore losers.
And to make matters worse, that tall ghoulish looking buffoon, no not Michael Chertoff, but Hank Paulson, is already having to testify in Congress about how he threw 350 million in tax payer money (or is that billion? Who can keep track anymore?) to God knows who to do God knows what with. The idiots in the House caved and gave this guy free reign to steal 350 billion from us and give it to rich people without any strings attached. And yes, Obama and Pelosi and a gang of fools agreed to this because Hank Paulson predicted a mushroom cloud would bubble around the globe from toxic assets.
So, now we are stuck with another 350 billion missing from the Treasury so Bush can defile his legacy through greed on the backs of others.
So now, poor little rich girls are forbidden to shop at Saks until Mommie or Daddie or Hubbie or Sugar Daddie can gain back some of the billions they lost on Wall Street. Some poor little rich girls or women actually earned and lost money themselves, and they too are unable to buy anymore designer clothes until this great depression is finally lifted.
I said all along this 700 billion dollar rip-off was nothing more than a looting. Pretty soon we will be bailing out Neiman Marcus. Thanks, Bush and the weaklings in the House that once again fell his Chicken Little bullshit. Of course he pulled it right before the election knowing neither side would say no except in a little show boating effort before handing him the check book.
So there is my diatribe for the moment. What do you think of that?