Jan 26, 2009

Shocking Shitstorm Update

Wholesale liquidators going bankrupt. That's about as fucked up as it gets.
You know things are bad when wholesale liquidators -- companies that sell goods for companies that are going out of business -- are themselves going out of business

When we first started to outline the dimensions of this economic depression back in 2006, we did not foresee the extraordinary rate of economic decline we are experiencing today. Processes we expected to take months to transpire are happening in a matter of weeks. Nor did we imagine the range of businesses that are now getting caught up in this disaster. Usually a retail sales collapse starts at the luxury end of the market and slowly works its way down. Not this time. A document sent to us is indicative. A recent bankruptcy court filing by a wholesale liquidator. That's right, a company that sells goods for companies that are going out of business is filing for bankruptcy protection.
I believe the official economic term for this is "a fuck pie."

Soon you'll be eating your pets, then your shoes, then your toenails.

You should all be reading iTulip.

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