You sure the worst is behind us? Even though inventories dropped along with these sales, the inventory to sales ratio continues to rise.
Source: Census
Friday, May 8, 2009
Wholesale Sales Debacle Continues...
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HAH!
ReplyDeleteInvesting 101 says no two business cycles are the same. Ignoring that, I continue to think our situation now looks a lot like Japan's in the early 1990s.
Dec. 1989, Nikkei about 40,000.
Oct. 1990, Nikkei about 20,000.
Mar. 1991, Nikkei about 27,000.
And, of course, Nikkei today: about 9,000.