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Economy
See other Economy Articles

Title: Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing?
Source: The Economic Collapse
URL Source: http://theeconomiccollapseblog.com/ ... ns-all-over-america-collapsing
Published: Feb 18, 2013
Author: Michael Snyder
Post Date: 2013-02-18 23:09:09 by Hondo68
Keywords: None
Views: 11113
Comments: 32

By Michael, on February 17th, 2013

Why Are Major Retail Chains All Over America Collapsing? - Photo by Gars129

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 "total disaster". So why is this happening? Why are major retail chains all over America collapsing? Is the "retail apocalypse" 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 that is employed has been steadily falling since 2006. The top 10% of all income earners in the U.S. are still doing very well, but most U.S. consumers are either flat broke or are drowning in debt. The large disposable incomes that the big retail chains have depended upon in the past simply are not there anymore. So retail chains all over the United States are now closing up unprofitable stores. This is especially true in low income areas.

When you step back and take a look at the bigger picture, the rapid decline of some of our largest retail chains really is stunning.

It is happening already in some areas, but soon half empty malls and boarded up storefronts will litter the landscapes of cities all over America.

Just check out some of these store closing numbers for 2013. These numbers are from a recent Yahoo Finance article...

Best Buy

Forecast store closings: 200 to 250

Sears Holding Corp.

Forecast store closings: Kmart 175 to 225, Sears 100 to 125

J.C. Penney

Forecast store closings: 300 to 350

Office Depot

Forecast store closings: 125 to 150

Barnes & Noble

Forecast store closings: 190 to 240, per company comments

Gamestop

Forecast store closings: 500 to 600

OfficeMax

Forecast store closings: 150 to 175

RadioShack

Forecast store closings: 450 to 550

The RadioShack in a nearby town just closed up where I live. This is all happening so fast that it is hard to believe.

But the truth is that those store closings are not the entire story. When you dig deeper you find a lot more retailers that are in trouble.

For example, Blockbuster recently announced that this year they will be closing about 300 stores and eliminating about 3,000 jobs.

Toy manufacturer Hasbro recently announced that they will be reducing the size of their workforce by about 10 percent.

Even Wal-Mart is going through a tough stretch right now. According to documents that were leaked to Bloomberg, Wal-Mart is having an absolutely disastrous February...

Wal-Mart Stores Inc. had the worst sales start to a month in seven years as payroll-tax increases hit shoppers already battling a slow economy, according to internal e-mails obtained by Bloomberg News.

“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, Wal- Mart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.”

So what in the world is going on here?

The mainstream media continues to proclaim that we are experiencing a robust "economic recovery", but at the same time there are a whole host of indications that things are continually getting worse.

Even global cell phone sales actually declined slightly in 2012. That was the first time that has happened since the last recession.

Perhaps it is time that we faced the truth. The middle class is shrinking, incomes are declining and there are not nearly as many jobs as there used to be.

Mort Zuckerman pointed this out in a recent article in the Wall Street Journal...

The U.S. labor market, which peaked in November 2007 when there were 139,143,000 jobs, now encompasses only 132,705,000 workers, a drop of 6.4 million jobs from the peak. The only work that has increased is part-time, and that is because it allows employers to reduce costs through a diminished benefit package or none at all.

So how can the mainstream media be talking about how "good" things are if we still have 6.4 million fewer jobs than we had back in November 2007?

And sadly, things may soon be getting a lot worse. If Congress does not do anything about the "sequester", millions of federal workers may shortly be facing some very painful furloughs according to CNN...

Federal workers could start facing furloughs as early as April, according to federal agencies trying to prepare for the worst.

Unless Congress steps in, some $85 billion in massive spending reductions will hit the federal government, doling out furloughs to much of the nation's 2.1 million federal workforce, experts say.

If you still live in an area of the country where the stores and the restaurants are booming, you should be very thankful because that is not the reality for most of the country.

I often write about the stunning economic decline of major cities such as Detroit, but there are huge sections of rural America that are in even worse shape than Detroit in many ways.

For example, many Indian reservations all over America have been shamefully neglected by the federal government and have become hotbeds for crime, drugs and poverty.

Business Insider recently profiled the Wind River Indian reservation in western Wyoming. The following is a brief excerpt from that outstanding article...

The Wind River Indian Reservation is not an easy place to get to, but I had to see it for myself.

Thirty-five-hundred square miles of prairie and mountains in western Wyoming, the reservation is home to bitter ancestral enemies: the Eastern Shoshone and Northern Arapaho tribes.

Even among reservations, it's renowned for brutal crime, widespread drug use, and legal dumping of toxic waste.

You can see some amazing photos of the Wind River Indian reservation right here.

It is hard to believe that there are places like that in America, but the truth is that conditions like that are spreading to more U.S. communities with each passing day.

We are a nation that is in an advanced state of decline. But as long as the financial markets are okay, our leaders don't seem too concerned about the suffering that everyone else is going through.

In fact, former Federal Reserve Chairman Alan Greenspan essentially admitted as much during a recent interview with CNBC. The following is how a Zero Hedge article summarized that interview...

Starting at around 1:50, Greenspan states the odds of sequester occurring are very high - in fact, the playdough-faced ex-Chair-head notes, "I find it very difficult to find a scenario in which [the sequester] doesn't happen" But when asked how this will affect the economy, Awkward Alan is unusually clearly spoken - "the issue is how does it affect the stock market."

While not so many of our leaders have taken the path to direct truthiness, Greenspan somewhat shocks a Botox'd and babbling Bartiromo when he admits "the stock market is the key player in the game of economic growth."

Bartiromo shifts uncomfortably in her seat, strokes her imaginary beard and stares blankly as Greenspan explains that while the sequester will have a real effect on the real economy, "if the stock market can hold up through this, then the effect will be rather minor."

Do you see?

As long as the stock market is moving higher they think that everything is just fine and dandy.

And the Obama administration?

They continue to pursue the same policies that got us into this mess.

Their idea of "economic reform" is to threaten to sue businesses that do not hire ex-convicts.

And of course now that Obama has been re-elected he is putting a tremendous amount of effort into "stimulating the economy".

For example, he spent this weekend golfing in Florida, and the Obamas recently spent about 20 million taxpayer dollars vacationing in Hawaii.

Meanwhile, the U.S. economy is getting worse with each passing day.

If you doubt that economic conditions are getting worse, please read this article: "Show This To Anyone That Believes That 'Things Are Getting Better' In America".

When you look at the cold, hard numbers, it is undeniable what is happening to America.

And our leaders are not doing anything to fix our problems. In fact, most of the time they are just making things worse.

So buckle up and get prepared. We are in for very bumpy ride, and this is only just the beginning.

Store Closed Until Further Notice - Photo by Gryllida

(3 images)

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#1. To: hondo68 (#0)

Interesting article Hondo; thanks.

Ferret Mike  posted on  2013-02-18   23:21:59 ET  Reply   Trace   Private Reply  


#2. To: hondo68 (#0)

Gas prices are jumping again today - and the US markets are closed.

Our electric rates will permanently increase 19% this summer - August. I've seen the local papers reporting that water rates may increase by possibly 60% in the near future.

I'm enjoying beans and rice and thrift shop living these days.

Fred Mertz  posted on  2013-02-18   23:49:44 ET  Reply   Trace   Private Reply  


#3. To: hondo68 (#0) (Edited)

Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing?

Not collapsing, but being deliberately cashed out. The elites are making their move.

Oh well... we can always eat, wear or drive gold and guns.

Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET

mininggold  posted on  2013-02-19   1:52:53 ET  Reply   Trace   Private Reply  


#4. To: hondo68 (#0)

Well it started when Clinton signed NAFTA. Then there was GATT. Then there are the regulations that scare business off so our people don't have as many jobs. Then of course we elected a foreigner that is determined to destroy us.

A K A Stone  posted on  2013-02-19   6:53:15 ET  Reply   Trace   Private Reply  


#5. To: A K A Stone (#4)

GOOD SUMMARY!

Dr. John Coleman- The Committee of 300 (1994)

Published on Apr 12, 2012

Dr. John Coleman, being a historian in intelligence community, researched in full scope the sinister forces behind the New world order movement. This video lecture represents a culmination of his findings about secret societies which form this global movement and how it came into existence.
More Info:
http://www.illuminati-news.com/black-...

whyofcourse  posted on  2013-02-19   7:16:30 ET  Reply   Trace   Private Reply  


#6. To: A K A Stone (#4)

You're just not going to get it.

There is ONE party in the USSA.

The Party of Property.

The Plutarchy.

The Top .1%.

Market Manipulation/Rigged Ponzi

Election Fraud /Class Warfare/ the War of 9/11

Climate Change

Peak Oil

And you've got about 10 more years to dance around this.

WalMart is collapsing with Every penny rise in Gasoline.

The One Sector of the Populace that WalMart services is the Very Same One being gutted by the Top .1%.

mcgowanjm  posted on  2013-02-19   7:56:18 ET  Reply   Trace   Private Reply  


#7. To: mcgowanjm (#6)

OWS - how you doing !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2013-02-19   8:51:04 ET  Reply   Trace   Private Reply  


#8. To: BorisY (#7)

OWS - how you doing !

I'm doin' GREAT!!!

OWS was attacked by the STATE.

Your USSA!!!

FBI had Snipers on them even.

Homeland Security made OWS their Top Priority,

Chris Dorner was right!!!

mcgowanjm  posted on  2013-02-19   8:54:15 ET  Reply   Trace   Private Reply  


#9. To: mcgowanjm (#8)

How about the ... unabomber --- koresh - vernon howell !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2013-02-19   9:01:49 ET  Reply   Trace   Private Reply  


#10. To: BorisY (#9)

How about the ... unabomber --- koresh - vernon howell !

It's NOT my Arguement, Numb Nuts!

It's Yours!.....;}!!!

Gun Lovers hate the State until a Gun Lover takes on the State.

And then your True Love shows to All the World!!!!!

mcgowanjm  posted on  2013-02-19   9:15:13 ET  Reply   Trace   Private Reply  


#11. To: mcgowanjm (#8)

OWS was attacked by the STATE

Good grief..the "state" bent over backwards for OWS.

How many weeks did the "state" allow those liberal thumbsuckers to camp out in public and disrupt local economies?

Without the "state" protecting them, the OWS scum would have been stamped flat by..the people.

Thunderbird  posted on  2013-02-19   9:44:27 ET  Reply   Trace   Private Reply  


#12. To: Thunderbird (#11)

allow

allow?

The STATE allowed Nothing.

The State was attacking OWS at the very first opportunity.

FBI snipers OWS

mcgowanjm  posted on  2013-02-19   9:47:42 ET  Reply   Trace   Private Reply  


#13. To: All (#12)

FBI classified information about OWS assassination plot — RT rt.com/usa/news/fbi-assassination-ows-sniper-227/ - Cached Jan 2, 2013 ... Only one month into the Occupy Wall Street demonstrations last year, plans were formulated to identify key figures in the movement and ...

Forum Post: OWS targeted by FBI, use of snipers | OccupyWallSt.org occupywallst.org/forum/ow...ed-by-fbi-use-of-snipers/ - Cached https://www.documentcloud.org/documents/549518-fbi-ows-documents.html.

FBI Report Mentions Plot To Kill Occupy Protesters | FDL News Desk news.firedoglake.com/.../...o-kill-occupy-protesters/ - Cached Dec 31, 2012 ... An identified [redacted] of October planned to engage in sniper attacks .... -in-fbi- coordinated-suppression-of-terrorist-occupy-wall-street.html ...

Released FBI Documents Reveal Plans By Unknown Parties to ... www.ragingchickenpress.or...py-wall-street-activists/ - Cached Dec 23, 2012 ... An identified [redacted] of October planned to engage in sniper attacks against ... The FBI are there to serve and protect the freedoms you are ... Documents Reveal Plans (by redacted entities) to Assassinate #OWS Activists ...

mcgowanjm  posted on  2013-02-19   9:48:55 ET  Reply   Trace   Private Reply  


#14. To: mcgowanjm (#12)

The STATE allowed Nothing.

You're a fool if you think the "state" couldn't crush OWS like a wet sponge if it wanted to, or that ordinary citizens couldn't do likewise if the "state" let them.

No..the "state" allowed OWS to camp out and "protected" OWS from the wrath of ordinary citizens fed up with their bullshit.

Thunderbird  posted on  2013-02-19   10:21:10 ET  Reply   Trace   Private Reply  


#15. To: Thunderbird (#14)

You're a fool if you think the "state" couldn't crush OWS like a wet sponge if it wanted to

The State DID want to and the STATE did dismember OWS.

The beauty of OWS is that there was no center to crush.

Like All good movements, it simply went underground.

mcgowanjm  posted on  2013-02-19   10:22:39 ET  Reply   Trace   Private Reply  


#16. To: All (#15)

SCALE IMPLOSION

"We Want Bargain Shopping" was their rallying cry. The unintended consequence of their victories through the 1970s and beyond was the total destruction of local economic networks, that is, Main Streets and downtowns, in effect destroying many of their own livelihoods. Wasn't that a bargain, though?

Despite the obvious damage now visible in the entropic desolation of every American home town, WalMart managed to install itself in the pantheon of American Dream icons, along with apple pie, motherhood, and Coca Cola. In most of the country there is no other place to buy goods (and no other place to get a paycheck, scant and demeaning as it may be). America made itself hostage to bargain shopping and then committed suicide. Here we find another axiom of human affairs at work: people get what they deserve, not what they expect. Life is tragic.

kunstler.com/blog/2013/02/scale-implosion.html#more

mcgowanjm  posted on  2013-02-19   10:32:24 ET  Reply   Trace   Private Reply  


#17. To: mcgowanjm (#16)

We Want Bargain Shopping" was their rallying cry. The unintended consequence of their victories through the 1970s and beyond was the total destruction of local economic networks, that is, Main Streets and downtowns, in effect destroying many of their own livelihoods. Wasn't that a bargain, though?

All the while creating the need for paving under more and more of our precious farmland which can never be replaced, while letting the inner cities slowly deurbanize.

Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET

mininggold  posted on  2013-02-19   11:17:40 ET  Reply   Trace   Private Reply  


#18. To: mininggold (#17)

Walmart has some good deals today.

www.walmart.com/cp/Value-of-the-Day/1058864

A K A Stone  posted on  2013-02-19   11:42:33 ET  Reply   Trace   Private Reply  


#19. To: mininggold (#17)

All the while creating the need for paving under more and more of our precious farmland which can never be replaced, while letting the inner cities slowly deurbanize.

And the really crazy is that I live at WalMartGround Zero in NW Arkansas.

And WalMart's lunch is being eaten.

There are various sites around in various 'hamlets', like mine for instance, where I kept expecting WalMart to show up with their version of $ Stores and MomPopStores.....

They missed with $General coming and now a 'local' very successful Family Operation is just completing (GrandOpening Wed 10AM Lulz;) a wonderful Full Service Grocer. Pharmacy/Gas, the Whole 9 yards.

I can't see Any reason to shop at Wal Mart's Super Center again......;}

mcgowanjm  posted on  2013-02-19   11:45:31 ET  Reply   Trace   Private Reply  


#20. To: mcgowanjm (#19)

TomTom START 50M 5" Vehicle GPS with Free Lifetime Map Updates TomTom START 50M 5" Vehicle GPS with Free Lifetime Map Updates *Base price subject to availability 5" screen 7 million POIs and IQ Routes Maps cover the U.S. Online From $69.98

A K A Stone  posted on  2013-02-19   11:49:32 ET  Reply   Trace   Private Reply  


#21. To: A K A Stone (#20)

Chris Dorner's Two Wallets found.

mcgowanjm  posted on  2013-02-19   11:50:30 ET  Reply   Trace   Private Reply  


#22. To: A K A Stone (#20)

You can't read a map? Figures.

Fred Mertz  posted on  2013-02-19   11:52:13 ET  Reply   Trace   Private Reply  


#23. To: mcgowanjm (#21)

Chris Dorner's Two Wallets found.

What's the point. I have 2 wallets also.

A K A Stone  posted on  2013-02-19   12:03:31 ET  Reply   Trace   Private Reply  


#24. To: A K A Stone (#23)

And you're a cop-hater too! We'd better keep an eye on you.

No normal person has two wallets.

Fred Mertz  posted on  2013-02-19   12:06:01 ET  Reply   Trace   Private Reply  


#25. To: Fred Mertz, A K A Stone (#24) (Edited)

We'd better keep an eye on you.

That GPS map device will track his every move. Can the drone bombs be far behind?

The cheap gas was $4.25 here a few days ago.



"We (government) need to do a lot less, a lot sooner" ~Ron Paul

Hondo68  posted on  2013-02-19   12:30:39 ET  Reply   Trace   Private Reply  


#26. To: Fred Mertz (#24)

If you lose one then find it you do.

A K A Stone  posted on  2013-02-19   12:31:29 ET  Reply   Trace   Private Reply  


#27. To: hondo68 (#25)

That GPS map device will track his every move.

I'll bet he has a cell phone too - the user purchased goobermint monitored tracking and listening device.

In addition to two wallets he has two tracking devices which the drone missiles can accurately triangulate him to a clean and tidy death.

Fred Mertz  posted on  2013-02-19   12:45:40 ET  Reply   Trace   Private Reply  


#28. To: A K A Stone (#23)

What's the point. I have 2 wallets also.

Wondering why you didn't jump on that....;}

So what are the odds of you losing both and both being found.....and you being dead....in the space of days.....;}

mcgowanjm  posted on  2013-02-19   12:59:17 ET  Reply   Trace   Private Reply  


#29. To: all (#28)

Calm down folks, it's just that my wife hasn't been shopping in a couple of months.

calcon  posted on  2013-02-19   15:12:26 ET  Reply   Trace   Private Reply  


#30. To: Fred Mertz (#24)

No normal person has two wallets.

So what about women that have 10 or more purses??

Leftards "greener" pastures ------ a place where their lack of intelligence isn't brought into question on every post!!

CZ82  posted on  2013-02-19   17:15:48 ET  Reply   Trace   Private Reply  


#31. To: A K A Stone (#4)

Then of course we elected a foreigner that is determined to destroy us.

You mean Bush was born in Mexico??

Leftards "greener" pastures ------ a place where their lack of intelligence isn't brought into question on every post!!

CZ82  posted on  2013-02-19   17:19:22 ET  Reply   Trace   Private Reply  


#32. To: Fred Mertz (#24)

And you're a cop-hater too! We'd better keep an eye on you.

No normal person has two wallets.

;}

mcgowanjm  posted on  2013-02-20   7:56:22 ET  Reply   Trace   Private Reply  


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