Starbucks Chairman: “We Took A Walk On Madison Avenue. It Reminded Me Of The Financial Crisis In 2008” – ZeroHedge

In retrospect, the ghost town that was New York’s “Golden Mile” was not surprising: after all the US economy had just been hit with the worst recession since the Great Depression, and only an emergency liquidity injection of trillions of dollars prevented a global financial collapse.

What is more surprising is why nearly 9 years later, at a time of what is supposed to be a coordinated global recovery, a walk along Madison Avenue reveals the exact same picture.

But don’t take our word for it: here is Starbucks Executive Chairman Howard Schultz speaking during the company’s annual general meeting on Wednesday, and making some stunning observations.

From the transcript:

via Starbucks Chairman: “We Took A Walk On Madison Avenue. It Reminded Me Of The Financial Crisis In 2008” | Zero Hedge