Japan’s economy unexpectedly shrank for the second consecutive quarter, leaving the world’s third largest economy in technical recession
AMERICA: THE END OF THE BLESSING
By: Dr. T.D. Vitale
(zerohedge.com) Welcome to the new normal recovery… if ever there was a headline that summed up the idiocy of the mal-invested distorted new normal, Wal-Mart just managed it:
- *WAL-MART CUTTING ORDERS AS UNSOLD MERCHANDISE PILES UP IN U.S.
So, it seems the “if we build it (or stock it), they will come (and buy)” mentaility has failed yet again… As we noted before, as goes Wal-Mart, so goes America…
Wal-Mart Stores Inc. is cutting orders it places with suppliers this quarter and next to address rising inventories the company flagged in last month’s earnings report.
U.S. inventory growth at Wal-Mart outstripped sales gains in the second quarter at a faster rate than at the retailer’s biggest rivals. Merchandise has been piling up because consumers have been spending less freely than Wal-Mart projected…
Published August 04, 2013
BERLIN (AP) – Swiss police say a couple was killed and their one-year old child seriously injured when the cable car they were traveling on fell onto a wooded cliff.
Police in central Schwyz canton (state) say the accident happened Saturday afternoon as the car headed downhill from its top station at Alp Baerlaui. The car came off its cable about 900 meters (985 yards) into its journey and dropped about 30 meters (nearly 100 feet).
The couple sustained fatal injuries in the fall. Police say the baby, which was being carried in a rucksack, was protected from the worst of the impact but still suffered serious injuries.