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RELIGION, CURRENT EVENTS, TECHNOLOGY Subscribe to the breaking newsWhat is RSS?
FRONT PAGE  |  8/28/2014
TUESDAY, FEB 19, 2013  |  27 comments
Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing?
If the economy is improving, then why are many of the largest retail chains in America closing hundreds of stores? When I was growing up, Sears, J.C. Penney, Best Buy and RadioShack were all considered to be unstoppable retail powerhouses. But now it is being projected that all of them will close hundreds of stores before the end of 2013. Even Wal-Mart is running into problems. A recent internal Wal-Mart memo that was leaked to Bloomberg described February sales as a ‚Äútotal disaster‚ÄĚ. So why is this happening? Why are major retail chains all over America collapsing? Is the ‚Äúretail apocalypse‚ÄĚ upon us? Well, the truth is that this is just another sign that the U.S. economy is falling apart right in front of our eyes. Incomes are declining, taxes are going up, government dependence is at an all-time high, and according to the Bureau of Labor Statistics the percentage of the U.S. labor force ...

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Response to economic crisis?
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Page 1 | Page 2 ·  Found: 27 user comment(s)
News Item2/19/13 1:08 PM
Unprofitable Servant | Georgia  Find all comments by Unprofitable Servant
jpw wrote:
... then give 15 trillion bailouts to the banks that ran the home markets into the ground....
Many sources could be sited, please don't blame the banks for government regulation. The CRA (Community Reinvestment Act) was forced upon banks (if the did not comply regulators would nix growth and expansion opportunities)
Not saying no culpability on the banks part, am saying government is one to blame, starting with Carter and strictly enforced during Clinton years. (sorry Jim can't pin blame on Bush, who warned about the problem. Republicans did tray and stop it but Dodd and Frank made it out like any attempts were racially motivated.) Not sure totally where you are coming from jpw, we are told to spread the gospel to the entire world, that would require missionaries abroad.
7

News Item2/19/13 11:58 AM
Josiah  Find all comments by Josiah
Kyle wrote:
I would encourage you to study how a debt based fiat currency system works. If government stops being in debt, or even slows down the rate at which it acquires new debt, the economy cannot even theoretically recover. That's precisely the opposite of what you hear on the conservative forms of media. They all peach that the government must live within it's means, or the economy will not recover. The truth, while we have this ridiculous system, is exactly the opposite.
Would you care to recommend the expert resources that you studied?
6

News Item2/19/13 11:18 AM
Kyle | Tucson  Find all comments by Kyle
I would encourage you to study how a debt based fiat currency system works. If government stops being in debt, or even slows down the rate at which it acquires new debt, the economy cannot even theoretically recover. That's precisely the opposite of what you hear on the conservative forms of media. They all peach that the government must live within it's means, or the economy will not recover. The truth, while we have this ridiculous system, is exactly the opposite.
5

News Item2/19/13 9:40 AM
jpw  Find all comments by jpw
... because we are in a depression, and the system reports wall street gains, and considers that to mean something.

jobs were sent overseas. farms to megafarming. Many church goers are against working with their hands and waiting for the centralized system to save them.

47 million on food stamps.

inner cities flooded with immigrants from other lands in the same job bucket as the american, but without the language and history.....

..... while we send our missionaries with support "over there" because "over here" has been reached.

.... because for many, decreasing western wealth is the goal, yet, they will have egg on their faces when their nation looks like detroit.

gov spending... what a joke. you can save the whole budget, then give 15 trillion bailouts to the banks that ran the home markets into the ground... budgets mean nothing when you have a handful of foreigners who are using the system up as monopoly money.

but yes, church, lets keep those radio programs about responsible savings, because it makes us feel better to blame the jobless for being hungry. talk about being out of touch!

4

News Item2/19/13 7:04 AM
Kyle | Tucson  Find all comments by Kyle
I agree. The economy is changing into an online economy.

People only have money to spend if government spends first. A much as I disagree with everything Paul Krugman says, he has one thing right. Public debt is private savings.

3

News Item2/19/13 5:15 AM
John UK | Wales  Find all comments by John UK
Retail only works when people have the money to spend. And when they do, they increasingly spend online. It won't be long before the word "shop" is obsolete.
2

News Item2/19/13 2:17 AM
Daniel B | North  Protected NameFind all comments by Daniel B
Source of from is Obama.
1
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