Author Topic: Why does Alex keep blowing sunshine up everyone's ass about the economy?  (Read 5369 times)

SingleTax

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https://www.prisonplanet.com/the-economy-is-okay-u-s-retail-store-closings-hit-a-new-record-high-as-west-coast-homelessness-soars.html

The Economy Is Okay? U.S. Retail Store Closings Hit A New Record High As West Coast Homelessness Soars

Michael Snyder
Economic Collapse
November 7, 2017

If the U.S. economy is doing just fine, why have we already shattered the all-time record for retail store closings in a single year?

Whenever I write about our “retail apocalypse”, many try to counter my arguments by pointing out the growing dominance of Amazon.  And I certainly can’t deny that online shopping is on the rise, but it still accounts for less than 10 percent of total U.S. retail sales.  No, something bigger is happening in our economy, and it isn’t receiving nearly enough attention from the mainstream media.

Back in 2008, a plummeting economy absolutely devastated retailers and it resulted in an all-time record of 6,163 retail stores being closed that year.

So far in 2017, over 6,700 stores have been shut down and we still have nearly two months to go!  The following comes from CNN…
    More store closings have been announced in 2017 than any other year on record.

    Since January 1, retailers have announced plans to shutter more than 6,700 stores in the U.S., according to Fung Global Retail & Technology, a retail think tank.

    That beats the previous all-time high of 6,163 store closings, which hit in 2008 amid the financial meltdown, according to Credit Suisse (CS).
Just within the last week, we have learned that Sears is closing down another 60 stores, and Walgreens announced that it intends to close approximately 600 locations.

Overall, about 300 retailers have declared bankruptcy so far in 2017, and we are on pace to lose over 147 million square feet of retail space by the end of the year.

Oh, but it is all Amazon’s fault, right?

Meanwhile, mainstream news outlets are reporting that homelessness is “exploding” out on the west coast.

For instance, we are being told that there are “400 unauthorized tent camps” in the city of Seattle alone
    Housing prices are soaring here thanks to the tech industry, but the boom comes with a consequence: A surge in homelessness marked by 400 unauthorized tent camps in parks, under bridges, on freeway medians and along busy sidewalks. The liberal city is trying to figure out what to do.
But I thought that the Seattle economy was doing so well.

I guess not.

Down in San Diego, they are actually scrubbing the sidewalks with bleachbecause the growing homeless population is spreading hepatitis A everywhere…

San Diego now scrubs its sidewalks with bleach to counter a deadly hepatitis A outbreak. In Anaheim, 400 people sleep along a bike path in the shadow of Angel Stadium. Organizers in Portland lit incense at an outdoor food festival to cover up the stench of urine in a parking lot where vendors set up shop.

Over the past two years, “at least 10 cities or municipal regions in California, Oregon and Washington” have declared a state of emergency because homelessness has gotten so far out of control.

Does that sound like a healthy economy to you?

[Continued...]



SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #1 on: November 07, 2017, 08:40:38 AM »
Could it be that maybe -- just maybe -- the so-called "stock market" is, in reality, a SPECULATION market that, as such, has little if any connection with actual wealth production?

http://michael-hudson.com/2016/08/finance-is-not-the-economy/



SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #2 on: November 07, 2017, 04:22:37 PM »
At the end of 2008, the real unemployment rate was roughly 20%.

Back then Alex pointed to this as evidence of how bad the U.S. economy was.

Today the real unemployment rate is over 20%.



Alex's response?

"OMFG! Trump is delivering! He's the embodiment of renaissance! He's the embodiment of Americana! [blah blah blah]"

 ::) ::) ::)

SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #3 on: November 28, 2017, 12:21:12 AM »
It's not just that the U.S. economy "still has problems," Alex.

It's that many of those problems are getting worse, not better.

https://www.prisonplanet.com/as-america-gives-thanks-homelessness-continues-to-set-new-records-in-major-cities-all-over-the-nation.html

As America Gives Thanks, Homelessness Continues To Set New Records In Major Cities All Over The Nation

Michael Snyder
Economic Collapse
November 24, 2017

If the economy is doing just fine, then why is homelessness at levels not seen “since the Great Depression” in major cities all over the country?
 
If the U.S. economy was actually in good shape, we would expect that the number of people that are homeless would be going down or at least stabilizing.  Instead, we have a growing national crisis on our hands.  In fact, within the past two years “at least 10 cities or municipal regions in California, Oregon and Washington” have declared a state of emergency because the number of homeless is growing so rapidly.

Things are particularly bad in southern California, and this year the Midnight Mission will literally be feeding a small army of people that have nowhere to sleep at night…
    Thanksgiving meals will be served to thousands of homeless and near-homeless individuals today on Skid Row and in Pasadena and Canoga Park amid calls for donations and volunteers for the rest of the year.

    The Midnight Mission will serve Thanksgiving brunch to nearly 2,500 homeless and near-homeless men, women and children, according to Georgia Berkovich, its director of public affairs.
Overall, the Midnight Mission serves more than a million meals a year, and Berkovich says that homelessness hasn’t been this bad in southern California “since the Great Depression”…
    Berkovich said the group has been serving nearly 1 million meals a year each year since 2013.

    “We haven’t seen numbers like this since the Great Depression,” she said.
And of course the official numbers confirm what Berkovich is claiming. According to an article published earlier this year, the number of homeless people living in Los Angeles County has never been higher…
    The number of homeless people in Los Angeles has jumped to a new record, as city officials grapple with a humanitarian crisis of proportions remarkable for a modern American metropolis.

    Municipal leaders said that a recent count over several nights found 55,188 homeless people living in a survey region comprising most of Los Angeles County, up more than 25% from last year.
If the California economy is truly doing well, then why is this happening?

We see the same thing happening when we look at the east coast.  Just check out these numbers from New York City…

[Continued...]

SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #4 on: November 28, 2017, 12:42:03 AM »
When will you finally get it through your thick head that just because the FIRE sector of the economy is doing better doesn't necessarily mean the rest of the economy is?

https://www.paulcraigroberts.org/2017/04/04/worlds-best-economist/


SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #5 on: November 30, 2017, 10:41:33 AM »
Will you believe what your own eyes tell you? Or will you just mindlessly believe that Trump is "delivering" on the economy because that's what his slogan-parroting cult followers incessantly claim he's doing?

https://www.prisonplanet.com/we-have-tripled-the-number-of-store-closings-from-last-year-and-20-major-retailers-have-closed-at-least-50-stores-in-2017.html

We Have Tripled The Number Of Store Closings From Last Year, And 20 Major Retailers Have Closed At Least 50 Stores In 2017

Michael Snyder
Economic Collapse
November 28, 2017

Did you know that the number of retail store closings in 2017 has already tripled the number from all of 2016?

Last year, a total of 2,056 store locations were closed down, but this year more than 6,700 stores have been shut down so far.  That absolutely shatters the all-time record for store closings in a single year, and yet nobody seems that concerned about it.  In 2008, an all-time record 6,163 retail stores were shuttered, and we have already surpassed that mark by a very wide margin.  We are facing an unprecedented retail apocalypse, and as you will see below, the number of retail store closings is actually supposed to be much higher next year.

Whenever the mainstream media reports on the retail apocalypse, they always try to put a positive spin on the story by blaming the growth of Amazon and other online retailers.  And without a doubt that has had an impact, but at this point online shopping still accounts for less than 10 percent of total U.S. retail sales.

Look, Amazon didn’t just show up to the party.  They have been around for many, many years and while it is true that they are growing, they still only account for a very small sliver of the overall retail pie.

So those that would like to explain away this retail apocalypse need to come up with a better explanation.

As I noted in the headline, there are 20 different major retail chains that have closed at least 50 stores so far this year.  The following numbers originally come from Fox Business…

1. Abercrombie & Fitch: 60 stores
2. Aerosoles: 88 stores
3. American Apparel: 110 stores
4. BCBG: 118 stores
5. Bebe: 168 stores
6. The Children’s Place: hundreds of stores to be closed by 2020
7. CVS: 70 stores
8. Guess: 60 stores
9. Gymboree: 350 stores
10. HHgregg: 220 stores
11. J.Crew: 50 stores
12. JC Penney: 138 stores
13. The Limited: 250 stores
14. Macy’s: 68 stores
15. Michael Kors: 125 stores
16. Payless: 800 stores
17. RadioShack: more than 1,000 stores
18. Rue21: up to 400 stores
19. Sears/Kmart: more than 300 stores
20. Wet Seal: 171 stores

If the U.S. economy was really doing well, then why are all of these major retailers closing down locations?

Of course the truth is that the economy is not doing well.  The U.S. economy has not grown by at least 3 percent in a single year since the middle of the Bush administration, and it isn’t going to happen this year either.  Overall, the U.S. economy has grown by an average of just 1.33 percent over the last 10 years, and meanwhile U.S. stock prices are up about 250 percent since the end of the last recession.  The stock market has become completely and utterly disconnected from economic reality, and yet many Americans still believe that it is an accurate barometer for the health of the economy.

[Continued...]

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #5 on: November 30, 2017, 10:41:33 AM »

SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #6 on: December 02, 2017, 10:17:10 AM »



BraveNewWhirled

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #7 on: December 02, 2017, 09:13:10 PM »
Therefore the solution is... ?

SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #8 on: December 02, 2017, 10:24:12 PM »
Therefore the solution is... ?

If you weren't a troll, I'd answer your question.

But you are, so I won't waste my time.

SingleTax

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #9 on: January 28, 2018, 01:09:56 AM »
Hi Alex!

« Last Edit: January 28, 2018, 04:52:33 AM by SingleTax »

BraveNewWhirled

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Re: Why does Alex keep blowing sunshine up everyone's ass about the economy?
« Reply #10 on: February 01, 2018, 08:11:41 PM »
Thanks Obama! :(

SingleTax

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If everything that has allegedly gone right with the economy over the past year is because of Trump, then by that same logic everything that has gone wrong with it is equally because of Trump.

To suggest or imply otherwise is to engage in the same partisan double standard Obama supporters engaged in while Obama was in office. If there was compelling evidence the economy was doing poorly, Obama supporters would immediately blame Bush (and then snicker and giggle like 12-year-olds). If there were signs it was improving (if only slightly), they'd fall to their knees and give thanks and praise to Obama.

Same cult-like mentality; just different object of mindless hero-worship.

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