This is out of the U.K., but I imagine the situation is similar on this side of the Atlantic. This is a deflating credit bubble. Credit and leverage underlies everything in our modern financial world and the whole system is built to only operate efficiently in expansion mode.Cash-strapped retailers face collapse over cost of Christmas stock
by Rupert Neate, The Guardian
The cost of stocking the shelves for Christmas may force the collapse of several more high street retailers, a leading accountancy firm has warned.
Ernst & Young said retailers who had been "hanging on in there" since the 2008-09 recession might not be able to build up enough cash to pay for extra stock for the crucial festive season as well as the rent due at the next quarter-day in September...
There is another point as well - some of these companies might even be projecting positive numbers that would move them from "hanging in there" to profitability, but if their credit gets choked off, they could very easily collapse very quickly to the surprise of their employees, shareholders and suppliers.
Adding this potential retail pain on top of the ongoing struggles in Europe over the bailout of Greece, Portugal, Spain, Ireland and Italy and we certainly have the "excuses" or "emotional targets" that will be used to express the coming rogue wave of negative mood.