Another gem from the AP newswire. An “ailing economy at the end of 2008″ makes me wonder where this chump has been living and what news he’s been reading. At the end of 2008 we finally called that the recession started in December. 2007. The housing/credit bubble started popping in 2005, the stock bubble started peaking in October of 2007, we didn’t have our Red October until 2008 (where it dropped the other half of 50% a year after the peak), but still, the economy wasn’t strong at the beginning of 2008 unless you believe George W. Bush & co., who may not actually be lying; but if not, they just believe something other than the truth.
You and I, fellow citizen and screwed-over taxpayer, we know what’s up. We can see it. You can even smell it in the desperation sale ads on the glass nipplovision, where they’re trying to pretend their “everything 90% off in the store” is a favor they’re doing for you, not their last chance.
Circuit City knew they were insolvent months ago, but their sale prices still couldn’t compete with even Best Buy. Safely ensconced in their 1970s electronics business model, they choked on the future. Will they have good sales now? Not to us – they’ll sell shit at still above cost, then when they run out of money to keep their stores open, they’ll sell everything for pennies on the dollar to Best Buy or Wal*Mart, where we can go buy it at their ‘discount’ prices.
It’s the end of an era, the era of ultra-cheap (and mostly crappy unless you’re savvy enough to tell the good from the bad) consumer goods trying to drown us. Intel’s most spankin-newest processors are on sale at cost at Mwave.com right now. Why? Because no-one needs them. “Incremental advantages over your old computer! Only 500 bucks for the cheapest one at cost! c’mon buddy!” If you have the cash and want to upgrade your computer, do it now. Intel’s profits were down 90% – that means there’s no money left to keep silicon instruments as cheap as they are now.