Survival Joe - Economics
In prior articles, we’ve profiled some of the uncomfortable facts about the coming economic collapse.
We’ve covered the slow-moving inventory at stores like Wal-Mart and even Dollar Stores. Not only are sales down, many of these stores have been left with too much holiday inventory.
Once-bustling malls across America are now giant ghost towns… inside them, you can practically see the tumble weeds and hear the coyote howls.
In pockmarked areas of Detroit, you really can see shells of decayed homes, trash, weeds, and animals taking over entire neighborhoods!
…and now we have more proof that consumer spending is evaporating.
Crumbs Bake Shop, the largest retailer of cupcakes in the country, has decided to shutter ALL stores.
This is interesting because a business in financial trouble typically files bankruptcy to give it some breathing room. But the outlook for Crumbs was apparently so bleak they just threw in the towel.
What’s more, major retail chains Gap, Lumber Liquidators, and The Container Store are all reporting first and second quarter earnings that are in the tank.
These aren’t stores that sell frivolous items. They are businesses that sell the basic necessities of life — like food, clothing, and home materials.
Remember, the economic collapse won’t happen overnight. Rather, it will happen gradually, in phases. Last time, the first signs started to show up in late 2007, yet the bottom didn’t fall out until late 2008.
Always keep a close eye the economy. If these trends continue much longer, we could see a cratering of the economy much worse than the last recession.
My comments: Common Sense tells us that a Nation cannot spend more than it take in forever. America's Debt is Enormous and rising everyday. The interest on that Debt is $4 Billion everyday. The Federal Reserve keeps printing worthless money, thereby Stealing from everyone. The increase in food prices is now felt by everyone. This cannot continue and will not continue.
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