East Coast Economic Update February 18, 2010.

[Dakarah777]

You're definitely on it!

[PontVedra]

Bob Chapman reports in Las Vegas the Ritz Carlton will close in May;he used the canon scenerio to describe the casinos there also which is just terrible for that industry.U R rite,MSM not reporting it

[PontVedra]

A Walmart in Jacksonville Fl on Atlantic Blvd is seeing a drastic slow.There is rd construction 4 about 1+ yr;KFC n 3 others restaurants have shut down.Walmart looks pitiful there tho-it's strange.

[Travinyle1]

your dead on with your take on Wal Mart

[CaptainTripsz]

You know the jig is up when the Mexicans (and maybe Americans too) are trying to sneak back into Mexico. I dont think we are quite at that point yet. At least not as long as theres a lot of free welfare in this country. Once that gravy train stops theres gonna be all kinds of problems.

[weseyedwalk]

Oh yes we are, I live in California and I know a few Mexicans and one Argentinean who have called it day in the States and went back home to at least their house or family residence. I have heard of others. Also the words spreads and they will stop coming over here

[POSSUMTOHIDE]

Thank you for the video! Stay Well!

[larnem]

The Gov has invented their own form of mathematics.

[BackBurnerNews]

Good idea about everyone filming their mall and posting a video.

[1776Reborn]

I went to Walmart yesterday to buy a magnesium stick for fires. I was surprised to see wide open isles where they usually put pallets of items on sale. I figured they were just not stocking as much. Also the magnesium stick was $6.88 and I didn't buy it figuring I could do better online. (which I did on Ebay)

[veritasfiles]

Just make sure that hope doesn't turn to delusion. Honestly, we're too late to fix this. Fixing this should have happened decades ago, and certainly before 2005. We're just too late now. Whether they hold it off for a year or 5 years, it's still going to happen. It's inevitable. When you reject reality (i.e. the way economics actually works) and you have no values to constraint your behavior, you will get this kind of collapse and chaos eventually. Just hang on tight & keep preparing.

[piptaac101]

Thanks for the update friend. Hope all is well. 2010 will be all over the place. Down in stocks and up in gold and silver. ttyl

[msamour]

I believe KD said it was a Howitzer that he could fire through the mall, and only hit the luxury cars that are parked. I read the article this morning. KD is the only person's blog that i read religiously everyday. I like you vid KittenKattan. Scary prospect ahead. Imagine millions of Butterballs with no homes, no jobs, and nothing to do this summer. That will make for an interesting time. Especially if the price of oil doubles. Cheers! Mike.

[demensha23]

I say around mid March and things will become apparent to the average Joe. MSM is starting to leak out tidbits..A lead story on a local news station in the San Fran Bay area featured the impending housing crisis...the term "perfect storm" was used. The "stuff" i have been reading on the internet, and discounted by most is starting to go mainstream..When MSM 'warns" you it ill be too late. Thanks for the vids! Be well!

[waldentree]

So much for Jim Roger's agricultural play.

[magbigblock]

I really respect and like you John. I sincerely hope your business and family can make it thru the mess ok. My Dad owed a furniture store in the '80s that tanked after 7 years due to interest rates on his SBA loan hitting (I think 20%) We lost everything. House and all, and it wasn't fun. God bless.

[chena3]

greetings brother good to see you hope all is well.. last year 2009 bought a years worth of food supplies kinda went off the deep end ..glad i did better safe and well fed ..then sorrie and starving this year have cut back buying food stores... basically buying low budget .. figure others did ..are... doing the same.. just disgusted with the economy now .. want nothing to do with the lies and deceit .. so my wallet stays closed more often these days take care ... starve the beast

[1mealperday]

hi Chena, long post for you. No more turnips. I am following same path as you.

[chena3]

long parsnips ..

badgers be damned

[delicflower]

people are buying food, they are just going to aldi more, at least in my area.

go aldi :)

[sfmain]

No, the jig is up when you watch a ball game and no one is in the stands.......

[shatteek]

Wow. I heard the stats on Walmart this am and thought the same thing. When they go down, we are done.

[toshibavoodoo]

Love your videos, been watching for long time.. But you new orange jacket makes the video look like it was filmed in the county lockup!!

[whiskerchild]

I live in Whittier, Calif. working-class town 15 miles southeast of LA. When I drive by the mall, I do what you do: nervously assess the parking lots, etc. So far, the parking lots are full. The mall closest has Starbucks, Petco, Big 5 Sports, Ralph's (food chain), nothing fancy. But people are buying.

I know everything is slower, but I don't know how much slower.

Question: you're saying they're buying less FOOD at Wal-mart? Or less of other stuff?

[MissPickletoes]

My son is unemployed and has been for 3 yrs. He has all but given up.

The local Walmart in his town is new...huge...and a ghost town. You can go in there about 5-6 pm and instead of crowded aisles...there may be 30 people shopping...period. It's almost spooky.

[UncoverTruth]

Thanks John - always enjoy your updates and look forward to them.

Yes, have noticed a marked decline with people in stores and grocery shopping- and even on the road.

Talked to the coin dealer in our area- he advertised heavily the last few years on buying gold/silver/jewelry- and said he's now just mainly selling - got the feeling that there isn't as much money out there as before...

[Michigansnowpony]

If this were summertime in most of the country, I'd say people weren't cutting back on food as much as maybe producing more of their own (gardens, etc.). But this time of year. . . . I think you're right John.

[whiskerchild]

Michigan: I think you're right about the gardens; here in S. Cal. we have two growing seasons, and we're all hard at it. That's a blessing. Other than that, S. Cal isn't such a blessing. I just know this place is gonna riot. I'm trying to get to know my neighbors so we can band together when the time comes.

[justjacqueline2004]

Here in the Uk the paid for BBC lies,lies and lies about our recovery and unemployment.We have underemployment on a grand scale and pretend unemployment numbers.Graduate jobs are limited.Yes we are just a large Wal Mart awaiting lay offs.

[aw3212]

as far as Wal-mart I think its more that the premium stores are starting to come down in prices or doing buy one get one, etc. Also, I've noticed Best Buy and the like has matched the prices of their electronics. Of course I onl speak to what me and my family do, but I have definate;y cut out of the walmart spending, but its because pricing is getting better elsewhere. ALSO it seems walmart store brand items have gone up a little - so there is no benefit to buying store brands wo price.

[aw3212]

but i do agree people are cutting way back on the junk they dont need - like all those cheap household goods they sell besides food.

90% of what walmart sells is either bad for you (all the processed food) or total Chineese made crap and yet they are the largest retailer - whats that say about us as a country?

[lloydmer]

thanks for talking about how food sales could be down. because oregon's exports have dropped substantially in 2009, which include wheat, berries, and other food crops.

[jonah70757]

If you are over 50 you are basically screwed unless you know someone who gives you an in.

[PrepNow]

There is a new term in LA (among the

wealthier people) which is called

"closet shopping." I asked my boss

what that meant and she explained that these rich women have been shopping

for years, their closets are packed with clothes and they have so much that they

haven't even worn all of it. Well, they are

now going through their closet and have

started to use old stuff before buying

more new stuff.

[jonah70757]

SHAWS Grocers closed 10-12 Stores. So now we are down to 2 Food stores in town from 3.

[curiousEGM]

Walmart means China in slang Chinese.

:-) I wonder if they treat workers as fairly as they do here.....mmmm! something to think about. Are you going to make it working for Walmart? (Y/N).

[windwatcher89]

i worked at wal mart for a year. workers are treated like shit. told to work harder and that what the hell is wrong with us we are lazy. and the thing about managers going into the time clocks and taking off hours that youve worked is true. it happened to me and 3 other workers.

[fal2grace]

thanks john.

[AwakeAndDangerous]

The timber industry is struggling along in the Northeast. The firewood market is fairly strong, and high-grade logs for sawed lumber and veneer are still moving, but the truck drivers are throwing a wrench into the works for small businesses. "We get $100 an hour now," is the common refrain, and some of them are taking 2-week Hawaiian vacations and buying new trucks. Pure greed.

[snarbywrx]

NWO doesn't let people make photos or videos in malls.

[herne]

I went to the bank twice this week - both times, I just walked straight to the teller without waiting. In comparison, every time I went to the bank last year, it took an hour or so of waiting in line. What should we deduce from this?

[Michigansnowpony]

I had the same experience at a Secretary of State office yesterday. Breezed right in, no wait, two other people getting waited on. I've NEVER had that experience in a S of S office -- always had to take a number and wait. I was there to transfer a title and buy a license plate. I speculate their business might be down because people are not buying vehicles and "toys" (snowmobiles, boats, etc.) now. (My "new" vehicle was an inherited one).

[mlong5151]

and tax payers are now flying into buildings

[larnem]

On the news last evening they were using new house construction as a key to recovery. It is very sad that our economy rests on US citizens buying houses and spending money lots of money.....which most don't have...which means being too deep in debt....which means a housing bubble bursting....HEY I THOUGHT WE DID THAT ALREADY!!!

[yaplonglong]

@larnem

You ain't see nothing yet, wait till the bubble of all bubbles - the bail out bubble bursts - then you realise what a real bubble is

[silverfuturist]

I go to BJ's and not Sam's Club, because Sam's is owned by Walmart. The BJ's in my area don't appear to have slowed down. I buy my gas there, members get a few cents less a gallon than the surrounding gas stations.

[1mealperday]

Demoralizing for men. We value ourselves by what we do today.

[Michigansnowpony]

Yes it is. I live with one. He is still working retail, but severely under-umployed (skilled tradesman -- two journeysman's cards in tool and die trade). He is making half (no exaggeration) of what he was making when we first got married more than 20 years ago. He's trying to be thankful he has a job, but I know he feels close to worthless right now. . .It's hard to know what to do as a spouse to help.

[1mealperday]

Get him to fix something around the house. So he can feel useful. perhaps he can build,create ,make something. If you have a yard that gets sun , put him to work on a survival garden. A busy guy is happier than a fella with too much time on his hands. I am looking at my garage as a factory.

[RUBuyingSilver]

Thanks for the update... we're in crazy times for sure when people are cutting back on food items. "the jig is up" Definition: An expression used to mean "We have been caught out and have no defence" LOL... what a great expression.

[nieldsb]

ha real hope indeed...hang in there