As Blockbuster strode robotically into insolvency earlier this week, the German economic march became stuck in the mud resulting from ClubMed and global downpours. Blockbuster Video was a retail outlet squashed between the rise and rise of internet shopping, and technological changes in streamed entertainment. Germany is in turn being squeezed between Euuropean hubris, American debt, and Asian overheating: the country’s key forecaster slashed its outlook by a whopping 60%.
Britain’s retail dinosaurs in particular are falling like flies (as I predicted they would) but now we can see the first signs of social cover breaking down in the face of economic obduracy: over 100,000 disabled people are having their home care reduced or removed, and the Leonard Cheshire organisation describes the system as “on the verge of breakdown”. Continue reading