Downward spiral of US economy accelerates, Box stores closing correlates with consumer spending drop caused by horrible jobs situation, Internet sales factor, 30 percent of millenials living with family, Record food stamp usage and hunger

Downward spiral of US economy accelerates, Box stores closing correlates with consumer spending drop caused by horrible jobs situation, Internet sales factor, 30 percent of millenials living with family, Record food stamp usage and hunger

“There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.”…Gallup CEO Jim Clifton 

“In today’s labor market, there are nearly 1 million “missing” young workers—potential workers who are neither employed nor actively seeking work (and are thus not counted in the unemployment rate) because job opportunities remain so scarce. If these missing workers were in the labor market looking for work, the unemployment rate of workers under age 25 would be 18.1 percent instead of 14.5 percent.”…Economic Policy Institute May 1, 2014

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984”

 

 

Imagine a leaky toilet, a flow and ebb of water and then a flush.

That spiral of water going down the toilet is the picture I get of the US economy.

Scary.

I have been doing my best to warn of the real jobs situation, the real economy.

I know that internet sales are increasing and putting pressure on box stores, but the biggest problem now is on Main Street America and sooner or later it is going to impact Wall Street.

The real jobs situation in this country is scary and getting scarrier. Most of the jobs have been going to immigrants and many of the jobs are part time and/or lower wage.

That is why consumer spending is down, 30 percent of millenials live with family, there is record food stamp use and hunger levels are starting to be reminiscent of the Great Depression.

From Zero Hedge May 3, 2015.

“Major U.S. Retailers Are Closing More Than 6,000 Stores”

“If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores?  The “retail apocalypse” that I have written about so frequently appears to be accelerating.  As you will see below, major U.S. retailers have announced that they are closing more than 6,000 locations, but economic conditions in this country are still fairly stable.  So if this is happening already, what are things going to look like once the next recession strikes?  For a long time, I have been pointing to 2015 as a major “turning point” for the U.S. economy, and I still feel that way.  And since I started The Economic Collapse Blog at the end of 2009, I have never seen as many indications that we are headed into another major economic downturn as I do right now.  If retailers are closing this many stores already, what are our malls and shopping centers going to look like a few years from now?

The list below comes from information compiled by About.com, but I have only included major retailers that have announced plans to close at least 10 stores.  Most of these closures will take place this year, but in some instances the closures are scheduled to be phased in over a number of years.  As you can see, the number of stores that are being permanently shut down is absolutely staggering…

180 Abercrombie & Fitch (by 2015)

75 Aeropostale (through January 2015)

150 American Eagle Outfitters (through 2017)

223 Barnes & Noble (through 2023)

265 Body Central / Body Shop

66 Bottom Dollar Food

25 Build-A-Bear (through 2015)

32 C. Wonder

21 Cache

120 Chico’s (through 2017)

200 Children’s Place (through 2017)

17 Christopher & Banks

70 Coach (fiscal 2015)

70 Coco’s /Carrows

300 Deb Shops

92 Delia’s

340 Dollar Tree/Family Dollar

39 Einstein Bros. Bagels

50 Express (through 2015)

31 Frederick’s of Hollywood

50 Fresh & Easy Grocey Stores

14 Friendly’s

65 Future Shop (Best Buy Canada)

54 Golf Galaxy (by 2016)

50 Guess (through 2015)

26 Gymboree

40 JCPenney

127 Jones New York Outlet

10 Just Baked

28 Kate Spade Saturday & Jack Spade

14 Macy’s

400 Office Depot/Office Max (by 2016)

63 Pep Boys (“in the coming years”)

100 Pier One (by 2017)

20 Pick ’n Save (by 2017)

1,784 Radio Shack

13 Ruby Tuesday

77 Sears

10 SpartanNash Grocery Stores

55 Staples (2015)

133 Target, Canada (bankruptcy)

31 Tiger Direct

200 Walgreens (by 2017)

10 West Marine

338 Wet Seal

80 Wolverine World Wide (2015 – Stride Rite & Keds)

So why is this happening?”

“The truth is that middle class U.S. consumers are tapped out.  Most families are just scraping by financially from month to month.  For most Americans, there simply is not a whole lot of extra money left over to go shopping with these days.

In fact, at this point approximately one out of every four Americans spend at least half of their incomesjust on rent

More than one in four Americans are spending at least half of their family income on rent – leaving little money left to purchase groceries, buy clothing or put gas in the car, new figures have revealed.

 

A staggering 11.25 million households consume 50 percent or more of their income on housing and utilities, according to an analysis of Census data by nonprofit firm, Enterprise Community Partners.

 

And 1.8 million of these households spend at least 70 percent of their paychecks on rent.

 

The surging cost of rental housing has affected a rising number of families since the Great Recession hit in 2007. Officials define housing costs in excess of 30 percent of income as burdensome.”

Read more:

http://www.zerohedge.com/news/2015-05-02/major-us-retailers-are-closing-more-6000-stores

 

 

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18 responses to “Downward spiral of US economy accelerates, Box stores closing correlates with consumer spending drop caused by horrible jobs situation, Internet sales factor, 30 percent of millenials living with family, Record food stamp usage and hunger

  1. citizenwells

    6 Year Employment

    Net Gain Lost in 2009

    White

    1,172,000 2,812,000-

    Black

    1,590,000 644,000-

    Asian

    1,934,000 157,000-

    Hispanic/Latino

    4,511,000 85,000-

    https://citizenwells.com/2015/04/03/march-employment-white-americans-losing-jobs-by-thousands-april-3-2015-106k-less-white-employments-226k-fewer-whites-in-labor-force-81k-more-hispanics-employed/

  2. CW,
    Good going. This is shocking news.
    Here is something else to talk about. Haven’t had a chance to check it out.
    What ever happened to “AMERICAN MANUFACTURED GOODS,” “BUY AMERICAN PRODUCTS!!!”

    Went to Sears and Walmart Sunday. While waiting for wife, I got to looking at clothing labels, and guess what……
    Almost “ALL” clothing items were made in China, Vietnam, Blandish, Indonesia, etc., but not the good ole USA.
    We need jobs here and not there, right! But due to good ole government involvement and regulations these jobs go overseas for cheap labor.

    I’m sure there is a lot more that can be said on this subject. Will get back to you. Suggestions?

  3. oldsoldier79

    hapnHal……

    When America goes belly-up (and we will)…..it looks like we will be extremely poor, bare-assed naked,,,, and hungry as hell !!!

    We don’t print our own money anymore and haven’t since 1912 (the Federal Reserve does that for us)….we don’t make our own cloths any more, ( the Chinese are mainly in charge of that area)……and Mexicans are growing the majority of our food…

    We are in some deep, deep, very deep $hit, … but most Americans are to stupid to realize it….yet !!!

    But when the hammer falls (and it will)…maybe those people above the status of moron will get the message that we have brought all this misery upon ourselves, and we have no one to blame but the man in the mirror.

    And the sad thing is that all these unfriendly countries we have given billions and billions of our useless dollars too will not lift a finger to send any “aid and comfort” to us…..I wonder why?.

  4. oldsoldier79

    TODAY’S LESSON….

  5. oldsailor82

    ………and you don’t need a SHEEPSKIN to see why many WalMart stores are not profitable……….they were built in the WRONG part of town,and have been stolen blind from day one. To compound this problem the realestate market is really a $9.00 bill. Realestate agents are largely responsible for a portion of the high cost of home ownership,by inflating prices which equals larger commissions. An agent can legally take up to 14% of what a house sells for as his/her commission……but they do NOTHING that the purchaser can’t do for himself,or herself. More people should represent themselves……particulally if he/she has a solid understanding of what is actually going on at the market place. First and foremost find a line of credit. Many banks who do mortgage loans will always talk to a potential home buyer,and if the person has an acceptable work history,will very often agree to loan them money to purchase a home. If you decide to purchase home you need to engage the services of a CERTIFIED building inspector to thoroughly examine the house to determine if it meets all current building codes BEFORE you sign any agreements. If there are issues relating to codes the seller must bring the home up to code before it can be legally sold. In addition you need to see if there are any liens against the property. Most banks have the ability to do a LEGALS search on the house. If you decide to buy be sure to subscribe to TITLE INSURANCE. The bank will insist on it. Sometimes a code deficiency can translate in a substantial reduction in selling price…..but the bank might not loan the money unless the house meets all local codes. Insuring the loan,and the home will also be required.
    Financing which is underwritten by FHA etc,and all have loan requirements also………. Veterans financing is underwritten for the entire amount of the selling price,but might still require a small down payment. FHA requires a substantial down payment. Now housing loans are once again being made by some loan organisations from SUB PRIME. The loan packagers are once again doing the loan derivatives. They obviously didn’t learn anything in 2008. Never get suckered into an ARM. Sounds great but you are betting against an unforeseeable future. When the huge ballon payment comes due will you have the several thousand dollar payment available?Look for a fixed interest loan up to 30 years,or LESS if you can afford the increased payments. You will build equity sooner.
    But if you represent yourself DO YOUR HOMEWORK thoroughly before you sign on the dotted line.
    Sometimes you can buy real estate on land CONTRACT, but BEWARE you are treading on very thin ice. You could end up becoming responsible for the payment of multiple mechanics liens,and unpaid taxes which you was unaware of. In the event of unpaid realestate taxes,you might wake up one morning to the knock of a sheriff’s deputy who will hand you an eviction notice, as your property has been sold by the city for the past unpaid taxes due. Land contracts are very dangerous, because you will be the LOSER……everytime, if you fail to do your homework.

  6. oldsailor82

    HapnHal………….
    I can’t believe that you are just now noticing that China has become our source for much of what we have been buying for at least the last ten years. Indonesia,is now furnishing many electronic devices,as well as fabric items. Bangledesh,and India are also producing a VARIED line of products……including farm tractors. Haiti used to produce a lot of clothing. Some of our Computer equipment is produced in the Netherlands. China sells us even the kitchen sink,and soon they will be exporting their very own Automobile to the US. Remember the YUGO? har har

  7. Buy as much as you can locally. Go to local artisans for gifts. Go to farms and farm markets for locally grown food. When possible go to fish markets for fish caught locally.

  8. oldsailor82

    Hrmfc…………….
    That is what I do with respect to our food supply. We have a couple of produce farms within 10 miles. When we go there I buy for at least a week,and sometimes longer. Much produce must be precooked prior to freezing if you plan to store it. Otherwise it can also be pressure canned. But there is a problem inherent with preservation of vegetables. It raises the cost of the food to near absurd prices. You can buy American canned foods at the grocery store for a fraction of what it costs for home canning. Home canning is only practical when you grow the produce yourself. We vacuum seal our freezer beef,and other such products. But even with that it costs money to store freezer beef also. We sometimes smoke certain meats,but it is a somewhat messy thing and with neighbors in fairly close proximity we sometimes hear howls of protest to the residual smoke odor. As for our furniture……. I built all of it over a period of 10 or so years. As for our house I remodeled it and added over 800 sq.feet. I bought the bathroom fixtures and the copper tubing for the plumbing. I installed our new water heater,and new condensing type of gas furnace. I also wired everything that I built. It was all inspected by the city and passed. So I guess with regard to the clothes on my back you got me on that one I haven’t yet ventured to manufacture fabric. But of late I have purchased a few items of clothing from Duluth Trading Co.

  9. oldsailor82

    AND NOW……….
    This afternoon in Baltimore an officer saw a black with a weapon in hand. When the officer exited his vehicle the black began to run away. He stumbled ,fell,and the weapon went off. Right away a LARD ASSED female black began telling a Fox interviewer that she watched the officer shoot the black in the back. Talk about a HORSES BEHIND…………

  10. HonorFirst

    Baltimore Received $1.8 Billion from Obama’s Stimulus Law

    RE: Baltimore, recently Obama called for more early education programs, criminal justice reform, and “making investments so that [youth] can get the training they need to find jobs.”

    “There’s a bunch of my agenda that would make a difference right now in that,” he said.

    The president then proceeded to blame the Republican-controlled Congress for not implementing his agenda.

    “I’m under no illusion that under this Congress we’re going to get massive investments in urban communities,” Obama said.

    http://freebeacon.com/issues/baltimore-received-1-8-billion-from-obamas-stimulus-law/

    So looks like that MASSIVE 1.8 billion check was either mismanaged or lined the pockets of all the managers. People want to protest? Protest your city bureaucrats…demand answers!

  11. bob strauss

    Al Sharpton Agrees with Obama Calls for Unconstitutional Nationalized Police Force!

    In what can only be seen as working towards a Communist-style revolution, Al Sharpton has affirmed his belief that Barack Obama should nationalize America’s police force. This is nothing more than an attempt to instigate and insurrection among freedom-loving Americans.

    “We need the Justice Department to step in and takeover policing in this country,” Sharpton said. “In the Twentieth-Century, we had to fight states’ rights to get the right to vote. We gonna have to fight states’ rights in terms of closing down police cases.

    “Police must be held accountable,” he said. “I don’t think all police is bad. I don’t even think most are bad, but most that are need to be held accountable.”

    http://eaglerising.com/18060/al-sharpton-agrees-with-obama-calls-for-unconstitutional-nationalized-police-force/#REiCbFzdXb1DgbXG.99

  12. oldsoldier79

    HILLARY WILL TESTIFY !…..

    Hillary Rodham Clinton is willing to testify on Capitol Hill later this month about the attacks in Benghazi, Libya, and about her email practices during her tenure as secretary of state, her attorney told lawmakers in a letter Monday.

    But lawyer David Kendall said the Democratic presidential candidate would testify only for one session the week of May 18 or later, not twice as requested by Rep. Trey Gowdy, R-S.C., chairman of the special panel investigating the September 2012 attacks that killed four Americans at the U.S. outpost in Libya. Gowdy had requested one hearing to focus on Clinton’s use of private emails, and a separate session on Benghazi.

    Kendall said that Clinton would answer all lawmakers’ questions during one session and it would not be necessary for her to appear twice. Source: The Dallas Morning News –

    See more at: http://americanactionnews.com/articles/emailghazi-continues-to-be-over-queen-hillary-will-testify#sthash.Zgu0Y9YA.dpuf
    ———————————————————————————————
    Please, please Mr. Gowdy,

    Put her “lard-a*s” under oath, and make the hearing in public and as long is it takes to get the truth from her or enough lies to charge her with perjury !!!

    These criminal Clinton’s must understand they are not ABOVE the law, and they DO NOT make the laws…..

    And make her appear as many times as necessary…..

  13. oldsoldier79

    SO NOW YOU KNOW !!!!!

    As i have said in previous post here…the objective of all the racial turmoil and rioting across America isn’t about ‘bad police’….it’s about a blatant attempt of the Obama criminal justice department to take complete control of ALL the police efforts of America….And he’s using his little wormy mouth piece to spread the the discord among the blacks…..

    Even a blind man can see whats going on…..

    When and if a national police force happens, the ‘blacks will then be the masters, and the whites their slaves”…..

    Then you will really see a “riot in the streets of every village, town, and city across America” …all at the same time.
    ———————————————————————————————
    It isn’t really about Freddie Gray. And it isn’t about race, either.

    It’s about federal power and control over policing in America.

    That agenda, which SHTF reported on back in December, is made plain by the latest from Al Sharpton.

    His march on Washington isn’t just an attempt to stir up sympathy points in a divided political landscape. By his own words, Sharpton is trying to use the issue to fight states’ rights and have the Justice Department intervene at the federal level with local police affairs:

    “We need the Justice Department to step in and take over policing in this country. In the 20th Century, we had to fight states’ rights to get the right to vote, and we got to fight states’ rights in terms of closing down police cases.

    Police must be held accountable. I don’t think all police are bad; I don’t even think most are bad; but those that are need to be held accountable.”
    ———————————————————————————————-
    The same thing could be said about your accountability about all of your untrue, unjust, and contemptable comments you make Sharpton in order to stir up the black communities……

  14. bob strauss and oldsailor79
    Then he should be held accountable for all of the millions in taxes he owes like everybody else does.

  15. bob strauss

    My letter to Barry Soetoro-Barack Obama as successfully posted on whitehouse.gov MAY 3, 2015 under the subject of “Homeland Security”:

    Barry Soetoro-Barack Obama

    The US Constitution is the supreme law of the land. Every American citizen has an inalienable right, a need and a duty to know the full identification and life history of any presidential candidate and any incumbent president, for this person may become the keeper of the keys to America’s nuclear arsenal et al. You have wrongly hidden your full identity and full actual life history from some 318,000,000 American citizens since 2008; you lied on your Illinois attorney’s application that you never had a former name of Soetoro or Barry Soetoro; your birth certificate posted on whitehouse.gov on April 27, 2011 has been thoroughly investigated by American law enforcement professionals and found to be a multi-layered copy-paste computer-generated forgery; and your actions over the past six years indicate to all world observers that you only intend to pretend to be an American president so as to leave behind your harmful and humiliating legacy of lunacy, lies and lawlessness of a so-called presidency that can only yield (1) all your directives in office, (2) all votes cast for you in the 2008 and 2012 general elections and (3) all Congressional lawmaking and funding with you from January 21, 2009 to the present time as being Constitutionally NULL AND VOID. Therefore, as a 66-year old natural-born Citizen of legally married natural-born American Citizen parents, whose ancestors migrated to America in 1638, I demand, on behalf of the security of our noble Republic, its citizens and its sacred paid-for-in-blood US Constitution, that you, Barry Soetoro-Barack Obama, immediately cease all pretentious activities in the White House et al, and surrender yourself over to Paul Irving, US House Sergeant-at-Arms, for incarceration and subsequent prosecution for crimes against America, specifically, and crimes against humanity, in general. All that I have stated herein has never in human history been easier to substantiate by mere fingertip access to the world’s living e-library and e-court, the Internet.

    Jonathan David Mooers,
    PE (MA, ME, NH, NY, RI),
    Fellow and Life Member- American Society of Civil Engineers,
    MBA, LT (Ret.) US Army Corps of Engineers,
    Grandparent, natural-born American Citizen
    MAY 3, 2015
    Naples, FL
    Read more at http://www.birtherreport.com/2015/05/homeland-forgery-mooers-letter-to-obama.html#MTZZ6efYWKLCkwU1.99

  16. oldsailor82
    May 4, 2015 @11:36am
    I agree with every thing you said! I sold three homes FSBO and each one sold so easy. I did my research!!!

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