Apparently Lee Scott reads my blog

Women's Wear Daily is reporting the following:

The economy will turn around some day — but don’t expect conspicuous consumption to make a comeback.

So believes H. Lee Scott, chief executive officer of Wal-Mart Stores Inc., noting the dismal economy has caused a permanent and fundamental change in consumer behavior.

The fact that people still need to be told that this is the case is rather interesting to me. (If they'd only read my blog earlier...) This isn't something new, and it's going to get worse before it gets better.