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Fear under the Obama Economy=Reduced Consumer Spending=Macys Closing Stores
The economy has been terrible since 2000. First the tech bubble burst. Then China joined the WTO which replaced millions of good-paying manufacturing jobs with minimum wage Wal-Mart jobs. Then oil prices spiked to $150/bbl. Finally, the housing bubble imploded which took down the financial sector, causing the Great Recession of 2008 (that we haven't yet fully recovered from).
All of those things happened before Obama took office. Most of those things occurred because of pro-business legislation like financial deregulation and free trade agreements.
Companies make business moves all the time. Ford made a decision, and so did Macy's.
I think you are missing the point. The layoffs illustrate the basic tenents of Trump's argument.
Service sector jobs, such as retail at Macy's, depend on a work force that can be both easily disposed and turned over quickly. The days of knowledgeable and expertly trained sales people were gone even by the early 1960's when retail moved from regional store chains to "discounters."
Manufacturing requires an investment in the work force by training, cohesion of workers in a team. The level of training may vary, but the workers are there for the long term.
Trump is arguing that manufacturing jobs should return to the U.S. because we know that the service sector jobs fluctuate too much to be good employment.
What does this have to do with Obama? It is the consumers' fault in a sense for not spending money at Macy's and spending their money at other places and online sites like Amazon. This is just capitalism, where there are winners and losers, and right now, Macy's is the loser.
I figured this is something Republicans would be okay with, do you think the Federal Government should prop up Macy's or something? What exactly did you think Obama would be able to do for Macy's to keep them from closing stores?
Did you hear Borders also went out of business, as did just about every CD music store.
Trump did this. He called for a boycott of Macys after they came out against him politically. Trump supporters boycotted them. Go back to july/august 2015.
Trump did this. He called for a boycott of Macys after they came out against him politically. Trump supporters boycotted them. Go back to july/august 2015.
Ah yes, the boycott of Macy's because they wouldn't carry Trump's made in china cheaply made clothing line. Now where in the world are people going to be able to buy a poor quality red tie that was made in china?
Ah yes, the boycott of Macy's because they wouldn't carry Trump's made in china cheaply made clothing line. Now where in the world are people going to be able to buy a poor quality red tie that was made in china?
Or Ivanka's high heeled thigh-high boots?
I read she is moving production to Indonesia.
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