Jim Sinclair sent an email alert to subscribers Saturday, and stated that the recent decline in sales at Walmart exposes the fact that contrary to MSM MOPE, the US economy has flat-lined and expired.
Sinclair states that there is simply no other tool other than gold that can now repair the balance sheets of Western governments, and that readers’ main complaint will soon be that Sinclair’s call for $3,500 gold was much too conservative.
Sinclair’s full update is below:
From Jim Sinclair:
QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is just that simple.
Gold will trade at $3500 and higher. Your complaint then will be that I was much too conservative in my price objective. The saying used to be “As goes Motors, so goes the USA,” which in their bankruptcy did prove true.
Now we have a hard to hide other statistical leader. “As goes Wal-Mart so goes the American Consumer.” Now add dropping revenue to an increase in the minimum wage, a majority of Wal-Mart’s salary cost. The camouflage created by MSM of this flat line recovery and the patient, the US economy, is exposed as expired.
Stop a few wars without creating new one (Mali) and the economic hole that will be created will be visible from Andromeda.
Wal-Mart Executives Sweat Slow February Start in E-Mails
By Renee Dudley – Feb 16, 2013 8:13 AM ET
Feb. 15 (Bloomberg) — Gigi Stone reports on today’s top stories. She speaks on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Wal-Mart and discounters such as Family Dollar Stores Inc. are bracing for a rise in the payroll tax to take a bigger bite from the paychecks of shoppers already dealing with elevated unemployment. The world’s largest retailer’s struggles come after executives expected a strong start to February because of the Super Bowl, milder weather and paycheck cycles, according to the minutes of a Feb. 1 officers meeting Bloomberg obtained.
Murray’s comments about February sales follow disappointing results from January, a month that Cameron Geiger, senior vice president of Wal-Mart U.S. Replenishment, said he was relieved to see end, according to a separate internal e-mail obtained by Bloomberg News.
“Have you ever had one of those weeks where your best- prepared plans weren’t good enough to accomplish everything you set out to do?” Geiger asked in a Feb. 1 e-mail to executives. “Well, we just had one of those weeks here at Walmart U.S. Where are all the customers? And where’s their money?”
Wal-Mart fell 2.2 percent to $69.30 yesterday at the close in New York for the biggest decline since Dec. 12. The shares rose 12 percent in the 12 months through yesterday, compared with a 9.4 percent gain for the Dow Jones Industrial Average.
“As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions,” David Tovar, a Wal-Mart spokesman, said in an interview, adding that the company will report fourth-quarter earnings on Feb. 21. Wal- Mart’s fourth quarter ends in January.
Murray declined to comment and Geiger didn’t return telephone and e-mail messages seeking comment.
Both executives attributed the performance to increased payroll taxes and delayed tax returns, which Geiger called “a potent one-two punch,” according to the e-mails.