Warren Buffet’s wisdom will be borne out, “Only when the tide goes out do you discover who’s been swimming naked.”

Read this article. Hanging out at the mall will never be the same again.

"America's Economic Collapse-Ghost Malls Will Be Appearing
James Quinn January 19th 2009 Cutting Edge Economic Crisis Analyst
America’s economy supports more than 1.1 million retail stores. There are approximately 1,100 Malls in the United States, not counting the thousands of strip mall centers. That will soon change as once thriving malls become ghost malls. By 2011, America’s malls within two years will have an entirely different set of numbers."

"David Rosenberg, the brilliant economist from Merrill Lynch, describes what will happen next: "This is an epic event; we're talking about the end of a 20-year secular credit expansion that went absolutely parabolic from 2001-2007.Before the US economy can truly begin to expand again, the savings rate must rise to pre-bubble levels of 8 percent, US housing stocks must fall to below eight months' supply, and the household interest coverage ratio must fall from 14 percent to 10.5 percent. It's important to note what sort of surgery this is going to require. We will probably have to eliminate $2 trillion of household debt to get there. This will happen either through debt being written off, as major financial institutions continue to do, or for consumers themselves to shrink their own balance sheets."

That is right $2 trillion in debt needs to be wiped out. How long will that take?

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