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????Retail Apocalypse getting Worse Despite Amazon Bubble Ready to Burst !
????Retail Apocalypse getting Worse Despite Amazon Bubble Ready to Burst
When you have an economy based on consumption and the people are broke, well, what to expect.
The retail space is collapsing due to one thing: the disappearance of the middle class.
And, the middle class disappeared because the rulers shipped manufacturing offshore.
Believe me - I was around before and after. It used to be common for father and son to retire from the same company. Even after all these years, I still don't understand how they pulled it off.
It is hitting restaurants now as well.
Anyone else noticed that Steak and Shake have quietly closed nearly all of their locations and are pretending like they are closed for 'remodeling,' but they have stayed closed since late 2018.
The biggest hassle is getting to the store in the first place, finding a place to park, dealing with the weather, fending off the mall rats, etc. Then when you get to the store, they don't have what you are looking for. That is the best thing about the internet. You seek and find without all the leg work.
Bookstores are one dead category, killed by the Kindle and such.
But online sales are also taking a huge hit. Many small online stores will go belly up.
Online sales taxes plus soaring postal costs plus free shipping from competitors in China means Doom for USA small businesses.
The future of 'brick & mortar' stores was written on the wall when internet shopping became a reality.
Also, cheap money Fed inflating real estate prices and therefore rents.
The easy money created by the FED props up the business model that killed retail.
" thanks to a series of loans "
The financial houses keep extending loans to all these busted out retail shops.
The banks know they'll get a bailout.
Online is only 12% of all retail, and retail is failing because people have no money and too much debt. It's not because they dislike retail interactions.
Welcome to The Atlantis Report.
Consumer spending is high because the cost of having a roof over your head and simply staying alive is now well north of $2500/month for the average wage slave.
Retail is failing for the same reason that transportation, manufacturing, hospitality, and everything else is failing: the economy sucks. Nobody has any money, and 40 percent of working-age people have no job. Of the other 60 percent, half have jobs that pay peanuts.
Let it all fall to zero. Start fresh with non-debt-based money and no income taxes. We'll come back strong. Don't worry about that.
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????Recommended Economic and Financial books :
Destined for War: Can America and China Escape Thucydides's Trap? https://amzn.to/33RwG52
How an Economy Grows and Why It Crashes by Peter Schiff : https://amzn.to/33Tk8Ky
Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q
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