On Wednesday, disappointing results from two of our largest retailers were being blamed for the renewed wave of selling.  Target “reported a stunning 52% drop in profit for the first quarter”, and Walmart stock “had its worst day in 35 years” after reporting numbers that were well below expectations.

“Any company that relies on households and discretionary purchases will likely suffer this quarter because a lot of discretionary income has been funneled to food and energy prices,” said Jack Ablin, founding partner of Cresset Capital.

There is only so much money to go around, and as I explained a few days ago, this inflationary spiral is systematically destroying our standard of living.

theeconomiccollapseblog UTTER CARNAGE: The Stock Market Is Coming Apart Like A 20 Dollar Suit As Fear Sweeps Through Wall Street

The perfect storm is popping all kinds of bubbles that have taken generations to build up.