ECON Things Fall Apart: The Center of Our Consumer-Driven Universe Cannot Hold

Wowser

Inactive
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/27/AR2008112702345_pf.html

A Pall on the Mall
Things Fall Apart: The Center of Our Consumer-Driven Universe Cannot Hold


By Hank Stuever
Washington Post Staff Writer
Friday, November 28, 2008; C01

Shopocalypse now!

We're living at what may be the beginning of the end of mallworld as we know it: Certain Circuit City locations are marked for death here and there, and certain Ann Taylor Lofts are not responding to the corporate chemo, and the vacant Hecht's box is still a forlorn husk at Westfield Wheaton Shopping Centre, its parking lot filled with empty school buses. Across the land, it's heebie-jeebie vibes in the homogenous habitat. Bennigan's, Sharper Image, Bombay Co., Linens 'N Things, RIP. It's a series of harbingers. It's the end of things 'N things.

A Wilsons Leather store, a Disney Store, a Zales; a Gap here, a Home Depot there. Club Libby Lu is shutting down all its tween boutiques (farewell, belly-shirted glitter imps!) and, look, o'er yonder food court, it's the equivalent of a smash-and-grab at Whitehall Jewelers' going-out-of-business sale at the Westfield Montgomery (at all the locations). The sales people at Saks Fifth Avenue in Tysons Galleria (a little taste of Dubai on the Dulles) give you a knowing look, a look that says don't buy it today, come back and buy it in two days.

The Great American Fire Sale has finally taken its toll. The mall is a triage center. Hey, JCPenney, can you hear us, big guy? Blink twice, friend, give us a sign. Eddie Bauer? Buddy? How many fingers are we holding up? J. Jill, you with us, girl? Abercrombie, dude, you look a little peaked, the abs are going soft or something. And the shoe stores! The long faces therein, like refugees. With the T-Pain up as loud as it will go. Seeming as if there is no worse fate in the world than trying to sell a brand-new pair of Air Jordans.

* * *

We are a people who've felt everything you can feel in a mall: We have been teenagers in a mall, long enough to become grumpy adults in the mall. (It's been 26 years since Frank Zappa's daughter had that "Valley Girl" hit, which name-checked the Sherman Oaks Galleria, which was torn down so long ago nobody remembers it anymore. She's 41 now.) We fell in love in malls. We brought our babies to the mall, to play. We had soaring satisfaction and buyer's remorse in malls. We went deeply into debt in the mall. We went to the mall whenever there was nothing else to do.

Yet it's hard to feel sorry for mallworld, because it kept expanding until market forces intervened. By then there was a box-store feeling to life just about anywhere, everywhere.

We are a people who've grown accustomed to the dire warnings from retailers that Christmas -- in any year -- was going to be a tough one, and that instead of making hundreds of billions of dollars in sales, retailers would only make . . . hundreds of billions of dollars in sales.

Every year we spent more, and every year it never seemed to be good enough. We recognize now that this tended to be an abusive relationship, the dysfunctional family dynamic, like a Christmas comedy, only sad.
 

G-Man

Inactive
Family outraged over Dunkin' Donuts shooting

now all the commercial mortgages will be foreclosed on....
 
Last edited:

Rich30N90W

Contributing Member
Real world observation tells me otherwise - I drive past 2 malls on my drive into work, and both were packed to the GILLS this morning - at 5:45am. Likewise we had to go to the mall 2 Saturday's ago and it was packed. People may be "tapped out" in general but around here, it looks about the same as usual.

That being said, I can't wait till the Saks and Starbucks closes here, cut down on the yuppie/preppies around the office tower :vik:
 

NoPlugsNM

Deceased
The only shopping that I'm doing today is getting a flatbed load of alfalfa hay. 136 bales - 120lbs each - at $8 per bale.

The parking lot will not be crowded. No rude shoppers.

NP
 

BillyT

Contributing Member
Once people can no longer afford weekly shopping sprees and 8 dollar coffees to distract them, they are going to realize how empty their lives really are. I look for a huge uptick in anti-depressant sales and suicide. It is going to suck horribly, I hope the PTB can pull a rabbit out of the hat, but this nation needs a wakeup call. Hopefully the scare will be enough to get people to re-evaluate their values and we will not have to have the crash.
 
We've been to the mall more in the past month than in the year before. We've been putting off so many purchases until 'after the move' that it's taken awhile to get caught up on all the consumerism we missed while we were broke, haha.

Seriously, though, it seems busy enough.
 

Kris Gandillon

The Other Curmudgeon
_______________
This thread..."commerical mortgage bust"...

http://www.timebomb2000.com/vb/showthread.php?t=313085

Is directly related to *this* thread...

And is the "next big thing" my friend at Morgan Stanley is concerned about.

And this next phase of the "crisis" will trigger even more of the derivatives to unwind.

So far, we have glimpsed only the tip of the iceberg. The first three to six months of the new year will make the last 18 months look like a walk in the park.

Kris
 

kytom

escapee from reality
The only shopping that I'm doing today is getting a flatbed load of alfalfa hay. 136 bales - 120lbs each - at $8 per bale.

The parking lot will not be crowded. No rude shoppers.

NP
that makes me think of myself. most people get a thrill by purchasing something. ive found that 2x4's, drywall, nails will also give me a thrill when i buy them. the thrill gets better when i finish the project associated with the purchase.
 
Top