Sock Market Crashes

Western Colorado Financial Updates – Nov 28, 2014
(New York) The American Sock Exchange, recently driven to its knees by yet another Spandex Incursion, is now facing a hostile takeover by Chinese commodity traders who currently manufacture more than half the socks worn around the world.
Adding to the fears of a total collapse was the news that imports are up and expected to increase over the next year.
“We have finally snapped and broken,” said one thread broker. “Those workers in China, Brasil and Kenya knit faster. We can’t compete even though our quality is of a much better caliber.”
The industry began its elastic sag in 2006 and slid down to ankle depths after it was impossible to gain protectionist legislation in Washington. Gaping holes began to emerge in marketing campaigns while sales of cheap, foreign foot fashion soared.
“Don’t hose me on this,” said industry spokesperson Bobbie Argyle. “The government that we resent for restrictions on business in this country failed to protect us. We may never see another pair of American-made socks. It is indeed a sad day for feet in our nation.”
A spokesman for the United States Chamber of Commerce disagreed saying that the sock market had every opportunity to toe the line and bone up over the past decade.
“Who is trying to pull the wool over our eyes now?” asked Frank Frostbite, of the esteemed business mouthpiece. “What about nylon, silk, cashmere, mohair, linen and even bamboo socks? Ms. Argyle is only seeing the tip of the iceberg and that alone is enough reason to double up…on socks, I mean, not on Ms. Argyle.”
Meanwhile in Asia, the news of the crash was met with mixed reaction. The scene is utter mayhem. Factories shuffle workloads, beef-up inventories and manufacturers pour over figures just as U.S. consumers gear up for the colder weather.
“This is all too surreal for me so I’m going back to bed,” said the original thread broker. – Dag Katz