Skip to comments.(CBS NEWS) Analyst: Even Dollar Stores Struggling In ‘Obama Depression’
Posted on 07/11/2011 1:39:51 PM PDT by The Magical Mischief Tour
More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid Americas Great Recession and one analyst said on Monday its another sign of even deeper downturn.
I think whats going on in those stores is that we are in a depression for 80 percent of Americans,
In other words, the economy is continuing to be worse, the Obama depression continues to explode, he added.
(Excerpt) Read more at losangeles.cbslocal.com ...
And you must understand this came from CBS LOS ANGELES!!!
Amazing that left-liberal CBS would say “Obama depression”...gotta believe the White House will call them and this will be retracted with an apology for the obvious racism.
This could be a business opportunity: 50 cent stores!
Carried by CBS true, but the analyst interviewee was the one who uttered the prize words, “Obama Depression.” The second time he used the phrase, the interviewer cut him short. But, all in all, I’m surprised that a CBS affiliate carried it. I wonder how long before they edit it out of the interview?
“.... the Obama depression continues to explode”..
WOW - the truth!
I think bammie envisions an economy where retailers will be paying their customers (read "the poor") to take inventory off their hands.
(showing my age)... back in my childhood, my mom used to call Woolworth’s and the like, “the dime store”.
My parents also used that phrase and I remember that the local Woolworth back in the late 50s still had the sign with the 10 cents on it.
i just came from the 99 cents store in downtown L.A. (aka little mexico), and the people (mexicans) in front of me were using their EBT cards like it was Christmas. $29.76 was their bill and I just came in for the 99 cent dozen eggs and 3 liter pop for the same price.
I am sure I worked for my $2 bux.
” the dime store. “
Boy, it’s been decades since I’ve heard that one.....
Something is up, I can feel it. Both CBS and AP trashing Obama in one day? They are surely doing someone’s bidding, and it sure ain’t ours.
How long until that knock on the Oval Office door and somebody saying “Hey, Barry, Coach Clinton wants to see you. Bring your playbook”.
Not to mention plunging sales at dollar stores ain’t gonna make the ChiComs very happy.
I took the contrarian position and was about beat-up when I said I though it was bunk...most didn't think so.
Meanwhile garage and yard sales are BOOMING. More value for Americans and none for greedy DC Rats.
Yup. The 5 and dime store.
And the definition of insanity is? And the definition of insanity is? And the definition of insanity is? And the definition of insanity is? ~~~~~~~~~~~~
OOOps... I meant 2012.
I remember going to those as a yute.
The F. W. Woolworth Company (often referred to as Woolworth’s or Woolworth, or even Woolsworth) was a retail company that was one of the original American five-and-dime stores. The first Woolworth store was founded in Wilkes-Barre, Pennsylvania, with a loan of $300, in 1879 by Frank Winfield Woolworth.
The concept of the variety store originated with the five and ten, nickel and dime, five and dime or dimestore, a store where everything cost either five cents (a nickel) or ten cents (a dime). The originator of the concept may be Woolworth’s, which began in 1878 in Watertown, New York. Other five and tens that existed in the USA included J.J. Newberry, J.G. McCrory, S. S. Kresge, McLellan’s, S.H. Kress, TG & Y and Ben Franklin Stores.
” I remember going to those as a yute. “
My senior year in High School, I was the Stock Boy (yes, that was the ‘official’ job title) at the Woolworth’s in downtown Peoria....
showing my age)... back in my childhood, my mom used to call Woolworths and the like, the dime store
I remember Grants and woolworths both being the 5 and ten cent stores, as for the dollar stores their a dime a dozen around here I think their is one about every 5 miles around here.
We called it “the five and dime”. We also had the “Candy Store” where you could get a soda, a sandwich, a burger or stationary or magazines/comics or cigars. We had the “grocery” store, the deli, the gin mill and of course, the “chinks”.
Go read the comments. Vast majority of them are ripping nobama a new one. I’m seeing this more and more. Smile :)
” as for the dollar stores their a dime a dozen around here I think their is one about every 5 miles around here. “
Our little town has 1 Walmart, 1 independent supermarket, 1 hardware store, 1 lumber yard (not big-box), 1 car dealership, and three ‘dollar’ stores....
P.S. You ain't seen nothing yet!!!
Yes, Grants, and S S Kresges...
You better buy your license if you live in my town. It is good from Friday-Sunday and the Yardsale police are checking the ads on Craigslist and driving around fining you if your licensed.
Dang inflation! They were called “five and dime” stores when I was growing up (walking up hill in three feet of snow both ways to school, etc.)
I remember when the generic term was the “Five and Ten,” and I’m technically not yet an old fart.
I don’t think its bunk. Everyone I know is broke, working but broke. Hubby and I have a pretty good income but even we have felt the pinch. The price of groceries and gas is killing our budget and I have been looking for ways around it...cheaper meals, etc.
We have had some extraordinary expenses lately that have hit our discretionary savings account hard. Lawyers, taxes, back taxes, etc.
As long as we are going down memory lane... First Grade - could actually walk across the street from school... to the local ‘drive in’ restaurant... Order a large frosty root beer fresh out of the keg and a foot long hot dog with mustard & chilli sauce - price = 25 cents.
I know I love Dollar Tree! lots of useful stuff, and the stores are well-maintained. It also doesnt hurt that they actually sell things for a dollar, unlike Family Dollar.
Funny how it is so bad that people cant even afford that.
Little store near us was called _____________ 5 and Dime. There was Woolworth’s and Kresge’s (where one could get a very good lunch for a good price) Guess I’m dating myself, too. Loved the wooden floors in those stores.
The 5 & Dime is where mom took us so we kids could buy Christmas presents for each other.
Bring back the Five & Ten Stores!
We had a Murphy’s and Niesner’s, both dime stores. Had cheap candy that we would buy, then sneak it into the 25 cent movie next door in Miami.
I keep wondering, will the DNC throw zero under the bus at some point. Has it started? Or are LSM starting to experience fits of sanity?
WSJ was the originator of this piece.
It’s a very telling indicator, I believe, unclouded by government corrections and obfuscations.
People aren’t moving up from dollar stores back to WM and Target.
They’re actually spending less than two yrs ago.
I am not sure that it is that people cannot afford it, but there is little to buy of value in those stores. The food is junk, the stuff is cheap, and I imagine that people are holding their dollars for more durable goods.
I remember my mom calling them the 5 and dime store.
You and me have to be close to the same age.
“This could be a business opportunity: 50 cent stores!”
The real problem with dollar stores is inflation. In 3 years they’re gonna all have to rename themselves “$5 Stores”.
I don’t think it’s bunk either...I just took the contrarian position looking for the response I got. I agree with the response.