Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“. Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country? Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse. Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States. Barack Obama can continue huffing and puffing about how well the middle class is doing all he wants, but the truth is that the cold, hard numbers that retailers are reporting tell an entirely different story.
Earlier today, Sears Chairman Eddie Lampert released a letter to shareholders that was filled with all kinds of bad news. In this letter, he blamed the horrible results that Sears has been experiencing lately on “tectonic shifts” in consumer spending…
In a letter to shareholders on Thursday, Lampert said the impact of “tectonic shifts” in consumer spending has spread more broadly in the last year to retailers “that had previously proven to be relatively immune to such shifts.”
“Walmart, Nordstrom, Macy’s, Staples, Whole Foods and many others have felt the impact of disruptive changes from online competition and new business models,” Lampert wrote.
And it is very true – Sears is doing horribly, but they are far from alone. The following are 13 major retailers that are closing down stores…
Read more at http://conservativepapers.com/news/2016/02/26/economic-recovery-13-of-the-biggest-retailers-in-america-are-closing-down-stores/
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Obama will leave the legacy he spoke candidly about when running n 2008. Destroying the US economy. He has wanted America to fail, and his handlers have made sure that he got his 2nd term in spite of the fact that no one knew anyone who was voting for him in 2012.
Pray for righteousness to be restored and for the peace of Jerusalem
Most of the problem indeed has to do with Obama’s failed economy, but there are other factors too. One is that a number of retailers such as Penneys and Sears are located in shopping malls. Malls are in decline. For many it has to do with security. Crime is rampant. One of the local malls on the other side of town underwent a complete renovation 2 years ago. Then last Christmas there was a shooting in Macy’s. Husband and wife — innocent bystanders were shot. The husband was in grave condition for a time, but thank God he recovered. Now the mall is in serious financial trouble. People just feel safer staying home and ordering online, rather than risk serious injury or death just by shopping at a mall.
I go mall walking from time to time at a mall close to home. Every January one or two stores close after the holidays. This year it was 4. Small retailers have been particularly hard hit. But things are really bad when the big name stores like Walmart, Penneys, Macy’s and Sears go belly up.
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