I am always on high alert for anecdotal evidence that damp ole Vancouver is starting to slide. Today a stark reminder of just HOW bad it “could be” getting.
London Drugs, on Davie Street, in the West End has been a goldmine for the Louie Family since it opened, fifteen years ago.
I started noticing that it was “quieter” in the last two months, or so.
Today, I asked my favourite cashier what her take was.
“It’s dead”, she said. “No one is buying anything except the basics”.
Hmmm. I went into the Computer department – flies.
The TV and geegaw department – nary a soul.
If this is a hint about of how strapped people are, (and I think it’s a very good indicator), now I know why I have been noticing a new forest of “For Lease” and “For Rent” signs, in retail areas of the west side.
I have a feeling that we starting to see a massive deflationary tsunami, just offshore, and if you haven’t been following Mr. Turner’s astute calls on what to do to protect you and your Family – I suggest heading to higher ground, now.
Get rid of debt. That of course has a downside, a death spiral, as people stop buying, then it affects the take, taxes, et al.
In a word.
Anecdotes tend to add up to create the big picture of what is going on.