I get to be as self-indulgent as I want without wasting anyone's time. Guilt-free solipsism -- excellent!

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Forbes.com: Wal-Mart dumps cold water on U.S. economic bulls:

"The retailer -- which taps directly into the psyche of the U.S. consumer -- gave a downbeat economic outlook that contrasted with reams of recent data, and bluntly suggested that many of its shoppers are barely making ends meet.

Customers continue to buy the cheapest items in any given category -- a sign that household budgets remain tight, Lee Scott, Wal-Mart chief executive officer, said on a recorded message.

Buyers are 'timing their expenditures around the receipt of their paychecks, indicating liquidity issues,' Scott said.

'I don't think consumer spending is slowing, but I also don't see the strength that many of you in the investment community appear to see,' Scott said"

I'd put a lot of credence in Wal-Mart's analysis of the situation -- no-one has more insight into consumer spending trends. [via Unqualified Offerings]
| posted by Alex at 9:34 AM