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Howard Davidowitz, recognized as a premier authority on retail business in America, tells it like it is. So we must listen to him.
We are continually being told by CNBC, Bloomberg, and most other major media that the money printing and deficit spending policies of the Bush and Obama administrations have not only avoided Great Depression II but that the economy is on the mend and that good times lie just ahead of us once again.
But is it really so? If 70% of our economy is consumer related and the consumer has lost his job, his credit card, and the ability to borrow against his house—if
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