I have been hearing and reading a lot about how the current economic climate, far from having bottomed out, may actually be set to get much worse. International financier George Soros thinks we are at the end of a macro-boom, and some think that the international monetary system may go belly up. Nouriel Roubini and the organization Feasta (below) were two entities who predicted the current situation.
In the meantime, however, shopping clubs like Costco are doing well (as you might expect) but fueled by more upscale shoppers (which you might not expect). Maybe they are stocking up for Armageddon, as I am tempted to do having read the articles! but Please enjoy the snippets and links below…
Upscale Shoppers Lead Costco Pilgrimage
As the economy weakens, traffic at club stores targeting budget-conscious shoppers has increased at a rate faster than US population growth — with upscale consumers driving the increase, according to new data from Mediamark Research & Intelligence (MRI)