I have had it with all the gloom and doom here at Daily Kos because it reminds me of a place that I used to visit, Free Republic.
It was wrong when Republicans "talked down" the economy because Democrats were in power.
It was wrong when Democrats "talked down" the economy when Republicans were in power.
It is insane when Democrats "talk down" the economy when they control all levers of power!
I do realize that the US economy is facing a horrid rough patch, but there are signs that spring is coming.
One of those signs? Bread Lines!!
I am sure many of you enjoyed Matt Drudges image of a bread line that he posted the other day however the reality is that some of those bread lines just happen to be at the extremely expensive grocer, Whole Foods.
Many of you thought everyone was shopping at WalMart and dinner out with the family was the dollar menu at McDonalds.
Looks like all that gloom and doom was for naught;
Whole Foods posted earnings of $27.8 million, or 20 cents per share, 28.9% below the $39.1 million, or 28 cents per share, reported last year. The quarter included $11.0 million, or 5 cents per share, in legal costs related to its acquisition of grocer Wild Oats; the deal has run into antitrust trouble with the Federal Trade Commission.
Sales edged up to $2.47 billion from $2.46 billion a year earlier. However, sales at stores open at least a year, a key indicator of a retailer's health, slipped 4.0%.
Wall Street had expected earnings of 15 cents per share, with sales of $2.49 billion.
Remember that they exceeded expectations and had they not faced a lawsuit, their earning would have been almost unchanged from the prior year!!
Simply amazing that Whole Foods can remain profitable in the "greatest depression" since the last Great Depression.