Damn Europeans Screwing Up Our Recession

My friend Bill sent the following pictures to me today from a Simon Properties premium outlet mall in the New York City area. As he said to me, on this holiday shopping weekend lines were everywhere, mostly, however, Europeans who out-numbered American 2:1. Said Euros were busy using their converted currency to fill empty rollerbags with cheap stuff.

Nothing like being the flea market to the rest of the first world.

coach store line IMG00113
true religion jeans line  


  1. Er… um… aren’t you Canadian yourself? Brought any loonies or twoonies with you?

  2. Merredith says:

    It’s always worthwhile to get a view or two from across the pond – geez, nearly any pond will do — and now, “flea market to the rest of the first world” will be stuck in my head all weekend.
    Thanks for that.
    But seriously, thanks for the perspective.

  3. I think that might be Woodbury Commons? If so, I haven’t been there in a while, but it used to be regularly overrun by Japanese tourists years ago, who found bargains even when the dollar was higher because our retail markets have robust competition.

  4. Paul Kedrosky says:

    Yes, it’s Woodbury Commons. I have no idea what/where that is, but it is the name I was given.

  5. I thought it was Clinton Outlets in CT. ‘Burbs all look the same. [shudder up spine remembering youth]

  6. Paul, Yes, it is indeed Woodbury Common Premium Outlets in Central Valley, NY. Our center is heavily marketed across the world to tour operators and shoppers so when people home here to shop, our centers are on their lists of places to visit. We have buses leaving the NY Port Authority hourly to come upstate to take the one hours ride to come shop. Just wanted to confirm.

  7. All this talk about a strong dollar is nonsense. Dornbusch overshooting is the only thing that can save us from a long drawn-out recession.

  8. I was at Seattle Premium Outlets in Tulalip, WA yesterday, and it was like Christmas 2.0. Insanity. I was there with half of Vancouver. It was voracious.