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Old 02-21-2013, 03:15 PM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
Reputation: 5180

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Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing? Sears, J.C. Penney, Best Buy and RadioShack Are All Going To Close Hundreds of Stores Before The End of 2013! | InvestmentWatch

Impending Financial Crisis: “Great Rotation” Is Over, Citizens Now Desperately Raiding 401(K) Plans To Pay Bills, Gasoline Prices Hit Record And Still Climbing, And Global Recovery Rapidly Fading | InvestmentWatch

Mish's Global Economic Trend Analysis: Reader Asks Me to Prove "Inflation Benefits the Wealthy" (At the Expense of Everyone Else)

These 3 articles have some eye opening information concerning the ever changing economic landscape.
Despite all the talk of recovery and growth, the truth is many in both the retail sector and the consumer sector are still reeling and many indicators point to things getting worse.
You cannot wish, or talk yourself into recovery, it requires action. The problem with that is that the empty suits we continually elect to public office from both parties have neither the know-how, nor the wherewithal to do what is needed.
To make matters worse, the economic pain is being unevenly distributed to the people who can afford it least. One article points out that the highest paid earners are in many cases receiving pay increases while lower paid workers are suffering pay cuts which have resulted in growing feelings of animosity among the classes.
None of this is good for the country, and left unchecked will result in an America that is very different from the one we are all used to.
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Old 02-21-2013, 07:58 PM
 
Location: Metro Detroit, Michigan
17,963 posts, read 16,439,263 times
Reputation: 17838
America has been drifting towards caste society status. Been in the motion for years, and only getting worst. "Picking yourself up by the bootstraps" will be a near impossibility to a large majority of the nation. There will always be a few who make it. They will simply suggest everyone else is not trying hard enough and use their own success as evidence of class mobility. The reality is class mobility in America is pretty dismal. Importing more poverty into the country certainly won't help, but Obama has made it clear that these are his people, and the peasants with citizenship status will just have to get along with their new guests.

Have fun competing in the rat race.
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Old 02-21-2013, 10:33 PM
 
Location: US
22,085 posts, read 21,028,449 times
Reputation: 17372
Why is JC Penny, Best Buy, Sears collapsing?
-Because of online shopping, poor customer service and expensive prices.

There are many stores that are thriving!

All this doom and gloom is preventing you from making money.

There are plenty of opportunities out there, but if you are all doom and gloom, you'll never see them until the economy is at its peak.
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Old 02-22-2013, 01:50 AM
 
26,846 posts, read 34,365,950 times
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Retail chains have a limited shelf life. These are not the first large retailers to close or go completly out of business. Prices, customer service, and overhead are the three things that kill retailers.

I lost a lot of respect for the Sears brand when Kmart bought them out 10 years ago. Kmart needed assets after going through chapter 11, and sears fulfilled that need. Retail is only part of the economy. It is hard to base the whole colapse or whatever on 3 examples.
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Old 02-22-2013, 10:43 AM
 
Location: "Daytonnati"
4,244 posts, read 6,380,072 times
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Some are speculating that the problems with big box retail is that people are buying via the internet. I'm not so sure.
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Old 02-22-2013, 10:58 AM
 
797 posts, read 1,197,042 times
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We have lost most of the good paying factory jobs.
Explains why the middle class is disapearing.

Many rural folks( some my relatives ) headed to the cities with a strong work ethic and little education.
They are in their 80's now and did quite well.

A few of my uncles drove newer cars,put their kids through college, have a comfortable house in the city AND a lake cabin. They got hired by a good factory and worked there 40 + years.

Those days are gone.

I voted for Ross Perot and Pat Buchanan so don't blame me !
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Old 02-22-2013, 11:02 AM
 
Location: "Daytonnati"
4,244 posts, read 6,380,072 times
Reputation: 2996
Old Ross and Pat B where the ones really calling it, werent they?

Yeah, I too remember how it used to be....back in the day this was the norm:

Quote:
A few of my uncles drove newer cars,put their kids through college, have a comfortable house in the city AND a lake cabin. They got hired by a good factory and worked there 40 + years.

Lets hope the kids they put through college made good. Nowadays even that route to upward mobility is closed due to high cost and taking on big debt to pay for college.
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Old 02-22-2013, 11:20 AM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
Reputation: 5180
Quote:
Originally Posted by bmw335xi View Post
Why is JC Penny, Best Buy, Sears collapsing?
-Because of online shopping, poor customer service and expensive prices.

There are many stores that are thriving!

All this doom and gloom is preventing you from making money.

There are plenty of opportunities out there, but if you are all doom and gloom, you'll never see them until the economy is at its peak.
This is a truly stupid comment; first all these retailers have a prominent on line presence, and are just as much a part of the online marketplace as any other retailer.
Second you know nothing about me or whether or not I am "making money", I am probably in a better financial situation that you are.
As far as the economy peaking, you missed it. It happened several years ago, and will never return to that level, as a matter of fact, all indicators are that it will decline from here.
Sorry to squash your pom poms.
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Old 02-22-2013, 11:30 AM
 
Location: "Daytonnati"
4,244 posts, read 6,380,072 times
Reputation: 2996
Im wondering if there is any impact on food & drink establishments.

Some fast food and mid-range table-service restaurants used to cater to the now-shrinking middle class. Places like Golden Corral, McDonalds (of course), Olive Garden, etc.

I am noticing a sort of upscaling of fast food...places like Chipolte and Five Guys.
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Old 02-22-2013, 12:20 PM
 
Location: Vallejo
16,231 posts, read 18,183,889 times
Reputation: 14483
Great. Here we go more recent eye popping headlines for economiccollapsenut.com
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