"The world is suddenly awash in almost everything: flat-panel televisions, bulldozers, Barbie dolls, strip malls ... Over-capacity is so rampant that it will stymie government efforts to unfreeze credit markets. Banks have little reason to lend not only because they still have bad debt on their books but also because businesses don't have a pressing need to expand ... 'What is it that we need more of?' [Mike Shedlock, an economic analyst said,] 'Do we need more Wal-Marts, more Pizza Huts, more nail salons?'"
76. How will the government stimulus package address the issue of inventory // too much stuff? If Americans are [as I hope] actually able to change their consumption habits, this "overstock problem" will last for years and thus, as Tucker says, it will be a long time before we break out of the recessionary slog.
76. How will the government stimulus package address the issue of inventory // too much stuff? If Americans are [as I hope] actually able to change their consumption habits, this "overstock problem" will last for years and thus, as Tucker says, it will be a long time before we break out of the recessionary slog.
