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It’s A Retail Apocalypse: Sears, Macy’s And The Limited Are All Closing Stores

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retail-apocalypse-public-domainIt has only been two weeks since Christmas, and already we are witnessing a stunning bloodbath of store closings.  Macy’s shocked the retail industry by announcing that they will be closing about 100 stores.  The downward spiral of Sears hit another landmark when it was announced that another 150 Sears and Kmart stores would be shutting down.  And we have just learned that The Limited is immediately closing all stores nationwide.  If the U.S. economy is doing just fine, then why are we experiencing such a retail apocalypse?  All over America, vast shopping malls that were once buzzing with eager consumers now resemble mausoleums.  We have never seen anything quite like this in our entire history, and nobody is quite sure what is going to happen next.

Not too long ago I walked into a Macy’s, and it was eerily quiet.  I stumbled around the men’s department looking for something to buy, but I was deeply disappointed in what was being offered.  After some time had passed, an employee finally noticed me and came over to help, but they didn’t have anything that I was looking for.

And it is a sad thing, because over the past several years when I have gone into Macy’s looking to spend money, most of the time I have come out of there without spending a penny.  Macy’s has made some very bad decisions recently, and I am hoping that they can still turn things around.  But for the moment, they are closing stores and cutting jobs.  The following comes from the New York Times

Struggling with sagging sales over another crucial holiday shopping season, Macy’s announced on Wednesday that it was eliminating more than 10,000 jobs as part of a continuing plan to cut costs and close 100 stores.

Macy’s, the country’s largest department store chain, said sales at its stores had fallen 2.1 percent in November and December compared with the same period in 2015. Terry J. Lundgren, the company’s chairman and chief executive, said in a statement that while the trend was “consistent with the lower end of our guidance, we had anticipated sales would be stronger.”

Another legendary retailer that really does not have any hope left is Sears.  Every year they just keep closing even more stores, and because they are losing so much money they don’t have anything to invest in the stores that remain.  As a result, the state of many Sears locations is downright embarrassing at this point

But the retailer, famous for selling everything from shoes to vacuum cleaners to whole houses, is facing its biggest crisis ever. It’s closing hundreds of stores. Others are in shambles, with leaking ceilings and broken escalators. In some, employees hang bedsheets to shield shoppers from sections that stand empty.

Since the early portion of 2013, sales are down an astounding 37 percent for the company.  Sears is currently more than 1.6 billion dollars in debt, and they are losing more than a billion dollars a year.

They keep closing stores in a desperate attempt to stop the bleeding, but it hasn’t worked.

In 2010, Sears had 3,555 stores.

Last year, Sears had 1,503 stores, and now a whole bunch more are being shut down.

But everyone can see where this is going.  As I have stated repeatedly, Sears is going to zero, and many of the experts completely agree with me

“They are going out of business,” said Van Conway, an expert in bankruptcy and debt restructuring and CEO of Van Conway & Partners. “This snowball is 90% of the way to the bottom of the hill.”

Of course Sears is still surviving for the moment, and that is more than can be said for The Limited.

Back in the old days, it seemed like every mall had one of their stores.  I remember passing it on my way to Orange Julius and Herman’s World of Sporting Goods.

But now they are shutting down every single location and will be online only

American malls just got emptier.

The Limited, a once-popular women’s clothing brand that offers casual attire and workwear, no longer has any storefronts.

On Saturday, a message on the store’s website read, “We’re sad to say that all The Limited stores nationwide have officially closed their doors. But this isn’t goodbye.” The website will still be up and running and will continue to ship nationwide, the company said.

In addition to Macy’s, Sears and The Limited, other huge names in the retail industry have also fallen on hard times and have had to shut stores over the past 12 months.  The following comes from the Washington Post

The retail environment has proved challenging for a variety of stores: Sports Authority went out of business in 2016, shuttering more than 460 locations in U.S. malls and strip malls. PacSun, Aeropostale and American Apparel each have filed for bankruptcy protection in the past year and are aiming to reorganize and revive their businesses.

So why is this happening?

Without a doubt, our shopping habits have changed.  And in the online world, many of these retailers are being absolutely crushed by competition from Amazon and other tech companies that developed online infrastructure before they did.  I know that my wife and I actually prefer to shop online for many things when possible, and I anticipate that the share of retailing done online will only continue to grow in this country.

But let us also not underestimate the impact that the stagnating economy is having on ordinary consumers.  Thanks to the last eight years, approximately two-thirds of all Americans are living paycheck to paycheck.  More than a third of all Americans have a debt that is at least 180 days past due, and the rate of homeownership has been hovering near the lowest level that we have seen in about 50 years.  As you read this article, more than 95 million Americans are not in the labor force, and that number has grown by 18 percent under Barack Obama.  Homelessness in New York City and other major cities is at a record high, and as a nation we have accumulated the largest mountain of debt in the history of the world.

Let us hope that things can be turned around, but if current trends continue the retail apocalypse is just going to go from bad to worse, and we will continue to see lots of headlines about more stores closing down.

  • Mondobeyondo

    Tim-berrrrr!!

  • William Lutz

    Just let the snowball continue to get bigger and roll down until it crashes into the tree and crumbles. That’s the best solution.

    • SnodtBlossom

      hey.. who said you could use my picture?

      • LIZ THE SHIZ

        the electric company, pay your bill

      • William Lutz

        It’s just a matter of coincidence. I’m just as miserable as you are and I’m closing my Facebook account in a couple of days.

        • GSOB

          What is Facebook?

        • SnodtBlossom

          Coincidence! Does anyone else think this is a coincidence?!?!

    • LIZ THE SHIZ

      well since snowflakes make snowballs you have a point

  • Cinderella Man

    You answered your own question..Amazon had record breaking sales this past shopping season. It’s killing the brick and mortar stores. I hate to say it but it works for a reason. I live 30 miles outside of a small town which has a few stores but doesn’t have the products I want. Amazon has everything under the sun. It’s easy to sit in my house type in the item I want and few days later it arrives. Simple quick and easy. I dislike going to regular stores now. Pushy salespeople long lines lack of availability. It’s no wonder they are struggling to survive. I feel bad for the workers that work in the retail profession and I wish there was an easy solution but there isn’t.

    • mtntrek3

      The on-line sales as you say are the biggest factor true. As Michael said the floundering economy plays into it also.

      • socalbeachdude

        The US economy is not “floundering” at all and is now a more than $18 trillion a year economy. The huge problem is the vast amount of DEBT which now exceeds $64 trillion across all sectors of the US economy which results in a great deal of economic activity being artificially funded by debt – which all must be repaid.

        • mtntrek3

          Maybe it isn’t floundering exactly, but it sure isn’t going well either. Half or so of jobs created are poor paying ones in admin., retail, food sector and lower level health care services. Manufacturing jobs are still steadily going away also. The purchasing power of the dollar is and has been in decline for some time as well…… making things worse. I do agree with you on the debt issue.

          • socalbeachdude

            Unemployment as fully measured in the US is maintaining very stabling at only around 32% of those eligible for the work force are there are only around 105 million people in the US eligible for the work force who are presently unemployed.

          • mtntrek3

            “Only” 32%… 105 million ? Sounds like a huge number/huge issue to me.

          • socalbeachdude

            It’s only about 7% greater than at the depths of the so-called “Great Depression” when unemployment numbers reached about 25% very briefly!

          • mtntrek3

            ??

          • LIZ THE SHIZ

            dat’s cause free stuff is better than working !!

        • CensoredSpeech✓ᴰᵉᵖˡᵒʳᵃᵇˡᵉ

          That’s the definition of floundering, when expanding credit is the only thing holding it up! That’s a recipe for disaster!

      • SnodtBlossom

        The economy is fine mtntrek.. the stores are just shifting from catering to upperclass to catering to struggling immigrants.

        • ALWAYSTOMORROW

          Speaking of crackers, I like unsalted top crackers in my tomato basil and mushroom soups.

          • SnodtBlossom

            me too :), but I like the salt

        • mtntrek3

          Lol. You have such a way with words Sunny.

    • SnodtBlossom

      CinderellaShit, DollarGeneral is opening 1000 stores this year for azzcakes like you.
      https://www.thebalance Dotcom/us-retail-and-restaurant-chain-expansion-2892736

      • Cinderella Man

        Why thank you twaatblossomcuntface but I don’t shop at welfare stores

        • SnodtBlossom

          that’s only because you are too poor

      • Cinderella Man

        Thank you Twaatblossom but I don’t shop at welfare stores

        • SnodtBlossom

          oh god how i hope your rent runs out next month so we won’t be plagued by you so much

      • Cinderella Man

        President Trump!!!! Say it!!! SAY IT!!! Better load up on booze and antidepressants it’s gonna be a long 4 years!!!

      • socalbeachdude

        So what?

        • SnodtBlossom

          A lot more stores are opening that closing.. It’s just different types of stores.

          • socalbeachdude

            What stores are opening now?

          • SnodtBlossom

            see the link above.. Dot was spelled out for expediency
            1500 Starbucks (China, through 2019)
            1000 Dollar General (2017)
            1000 Wendy’s (by 2020)
            600 Forever 21 (through 2018)

          • socalbeachdude

            None of those are department stores and they’re just totally irrelevant bottom of the barrel outlets and are basically food and cleaning supply stores.

    • steve

      Sadly, “pushy sales people” are forced to push

      • socalbeachdude

        I’ve never encountered a “pushy sales person” and the staff at Sears are exceptionally excellent in all respects with the biggest problem being attempting to find a sales person to assist when a question arises as it sometimes does with a particular size in a particular style of clothing.

    • Orange Jean

      I would tend to agree, at least with the part ab out living in a small town with few stores. Most of the places hereabouts that might carry things in my size are 1-2 hour drive from my house… I do go to Target & Walmart for some stuff, but wish it wasn’t mostly crap from China.

      Amazon I use mostly for DVDs & books, when I can’t get out to either Target or Walmart where I buy the el cheapo DVDs (I prefer no more than $5 a pop). Or sometimes to find old films that are no longer available.

      AND I cannot manage hauling bags then getting things from my car into my house a lot of times, it is easier having things delivered…. though I hate it when I have to return something… a major hassle! I recently bought 2 canes on line (one supposed to be fun for Christmas, it was RED).. .but the red one didn’t work; and had to send it back. A real hassle because they put it in a very awkward box (about 6′ x 1′ x 1′). I had to get help getting sent back. And I wish they wouldn’t send so many things in boxes… I had a huge stack of empty boxes I just had to get help to get them over to the dump.

  • socalbeachdude

    No, there is no retail “apocalypse” at all. The Limited is shutting down all 250 of its stores after its hedge fund owners plundered it entirely. Sears is closing about 150 of its 3,000 or so of its poorly performing Sears and K-Mart Stores, and Macy’s is shutting down about 68 of its underperforming stores. Consumers these days apparently prefer to buy junk on line as well as some useful things from vendors such as Amazon which barely has any profit at all and simply does not offer what full-fledged department stores offer.

    • awb22

      How do figure they don’t offer the same things? You can buy appliances online, now.

      • socalbeachdude

        Obviously you don’t do much shopping. As to appliances the cost of shipping is prohibitive on larger items and out of the question for items that need to be installed.

        • Jill

          Thanks to competition, I’m having no trouble securing free shipping for appliances. JC Penney and Sam’s club were excellent and handled set up and removal for free.

          • socalbeachdude

            There is no free lunch and you are paying for that in the PRICE OF THE GOODS (appliances) you purchase.

          • Jill

            True, but I imagine Sam’s Club is trying to give the big box hardware stores a run for their money and JC Penney is simply trying to diversify and survive. They offered lower prices and free shipping for the same items found at Lowes and Home Depot (who both required 59 dollars in shipping fees)

          • socalbeachdude

            Driving profits towards zero is certainly not a recipe for retail store success.

          • Jill

            No, but I imagine each is hoping to be the ‘last man standing’ in an exceptionally tight market. Americans are beginning to lose their interest in consuming just for the sake of consumption. Once they learn to live within their means, I imagine disaster (retailapocalypse) will shortly follow.

  • socalbeachdude

    Amazon’s retail sales are up dramatically this year and some estimate indicate they now account for about 33% of all online retail sales. There isn’t hardly any profitability with Amazon, however, and there aren’t many things I’d even consider buying from Amazon but do pay annually for an Amazon Prime Membership which is now around $108 a year including tax.

    I shop at Sears for clothes and household items and Sears has done a great job with their Shop Your Way membership program. Sears has great Craftsman tools and other Craftsman items including lawn mowers and offers great convenience in allowing you to shop on line if you want to and then pick up the items at your local store or you can simply shop at your local Sears store.

    • Priszilla

      I rarely shop at department stores nowadays. They don’t have clothing in my size. Our furniture will keep for a while. They don’t have bedding in my size. Found something online. Will try it. Found cargo pants online. Fit perfectly. No more checking out 25 stores on weekends to settle on something ugly that doesn’t even fit just to not going naked.

      We don’t even go out on weekends anymore. Hubby works as a carer. They have severe staff shortage. Lots of stress. When he comes home he just wants to sleep.

      Our savings go to nieces. For university and living expenses. No point getting loans. Family is family.

      • socalbeachdude

        Department stores carry clothing in all sizes. I’d hate to ask what size you wear…

        • Orange Jean

          Not necessarily! They have a wider range of sizes for “dudes” than for ladies. There are a lot more specialty stores for “big and tall” men then there are for big women, and I have NEVER seen any for big and short women (that would be me)! The big girl stores clothes very often do not fit me even though they are theoretically “my size” because I am short!!

          I have trouble finding ANYTHING that fits… but yes, I’m a fat old lady. So? You really want me walking around naked??

          The truth is I’m also handicapped which has limited my ability to walk and thus added weight.

          There are only a few places I’ve been able to find clothes that fit lately, both online (Lands End and JJill). I used to make all my clothes, but it’s getting harder for me to do that…

        • Jill

          I’m 4’9 and hover between 90-100 pounds. Trust me, department stores do not carry my size in women’s clothing. My options are to shop online at specialty stores or peruse the kid’s section at the local mall. Invariably, I choose the former more and more.

        • Priszilla

          Always too short. If it comes close to the right size it’s ugly.

    • SnodtBlossom

      I drunkenly clicked a Prime Membership for a few days, but couldn’t see the point in it and cancelled.. but have you ever tried an Amazon TV firestick jailbroken w/Kodi? It’s the bomb!

    • SnodtBlossom

      I drunkenly clicked a Prime Membership for a few days, but couldn’t see the point in it and cancelled.. but have you ever tried an Amazon TV firestick jailbroken w/Kodi? It’s the bomb!
      I’ve jailbroken 2 in no time flat.. gave one to my ex-bf.

    • Guest

      Sears has sold its Craftsman brand.

      • Lorungee

        Yes they did. They sold it to Black & Decker/Stanley Tools. (my, these brand names are getting almost as long as law firm names)
        I lost all love for Craftsman when they started making them in China, and still selling them as if they were still made in America. This is sad, because I have some Craftsman tools my dad owned….going on 50 years old now, and still going strong. Can you say the same 50 years in the future about those Chinese made ones ?

        • Guest

          Yes, I still have Craftsman wrenches my father bought over 40 years ago. They last forever.

          I didn’t know that they started making them in China. What a shame.

          • rrrr

            Anything you buy that was made in China, you have to repair it before you can take it out of the box.

          • Pete

            Not so

          • socalbeachdude

            Absolutely false. The tools are still produced based on the same high standards and carry a lifetime warranty.

          • Mark

            Anything made in China is junk. The world is slowly falling apart in front of our eyes. You just have to open them and observe. Now let’s get rid of the Fed. Yeyyyyy. That’s a start.

          • socalbeachdude

            Absolutely false. China is producing the highest quality of electronics goods and computers ever produced anywhere in the world. None of those items could even be produced in the USA with the pathetic American workers of 2017.

            As to the Federal Reserve, it is a superb central bank and has done an excellent job as a very conservative central bank in the US over the past 103 years and will do the same over the coming 100+ years.

          • awb22

            All with a slave labor force, not to mention the loss of US jobs and stolen intellectual property.

            WRT the central bank, they and the US administrations since Reagan are responsible for the 2008 GFC. Yes, superb.

            I suppose we can put you in the category of globalist. In that regard, yes, you’re plan is coming together well, with Trump the fall guy and the average US citizen holding the bag.

            This is why I say debt repudiation ala Iceland is the only way out.

          • Mark

            I totally agree with you on this issue. This socalbeachdude guy is a globalist and troll working for someone. Either the governments or banks.

          • awb22

            Nah, just a ne’er do well, but thanks!

          • Mark

            Your welcome….Have a good one.

          • socalbeachdude

            Laughably false.

          • awb22

            Laughably, you’re a troll, nonetheless.

          • socalbeachdude

            Nope. Your issue is that you just don’t want to deal with the actual facts I present.

          • awb22

            Your issue is that you’re a little internet troll who engages in personal attacks when challenged.

          • socalbeachdude

            Nope. I merely state the correct actual facts to counter false disinformation such as you have put up on several posts here including on your Iceland and Federal Reserve posts which are dead wrong.

          • awb22

            Now you’re just starting to sound like a broken record, and still haven’t made any proposals for resolving the debt problem. Do you have any, or are you truly a worthless POS?

            What do you think can or should be done about the $64T in private debt you claim, not to mention the over $200T in unfunded federal obligations?

          • Mark

            The information you post is false and is B U ! ! S H ! T.

          • socalbeachdude

            Corporations have a RIGHT TO DECIDE WHERE THEY MANUFACTURE THEIR GOODS and government cannot dictate that to them, particularly here in the USA.

            The only thing that governments can do of any substance to “level the playing field” in terms of costs is to impose TRADE TARIFFS on goods imported from abroad.

            As to Iceland, its government certainly did not “repudiate” any debt whatsoever and Iceland today is both a political and financial wreckage of major proportions with higher government debt than ever.

          • awb22

            False, but don’t let the facts get in the way of your ignorance.

            Iceland is doing just fine. Why be a globalist troll?

          • socalbeachdude

            Iceland’s economy is NOT “THRIVING” at all and is a catastrophic debt wreckage and total mess economically, politically, and financially and it has never emerged from the financial crisis of 2008 at all and is now in much worse shape in 2016 as their political mess implodes.

            Iceland’s Prime Minister just resigned this year as part of the PANAMA PAPERS scandal which exposed his corruption and the country is in severe political turmoil with its economic and financial situation worse than ever.

            https://www.washingtonpost.com/news/monkey-cage/wp/2016/04/06/the-panama-papers-made-icelands-prime-minister-resign-heres-why/

            2016 – A rerun of 2009? No, we Icelanders are much angrier this time – Alda Sigmundsdóttir

            The farce played out by president and prime minister yesterday laid bare Iceland as a nation run by charlatans, whose hypocrisy the whole world can see

            http://www.theguardian.com/news/commentisfree/2016/apr/06/2009-icelanders-farce-president-prime-minister-charlatans-hyprocrisy

            No financial industry professionals are in jail at all in Iceland and all were released this year after those farce trials on trumped up charges and all that were convicted are now free citizens after that witch hunt travesty.

            As to EU membership, Iceland was NEVER OFFERED EU MEMBERSHIP AT ALL but rather submitted a membership application to the EU in 2009 which was subsequently suspended in 2013.

            Accession of Iceland to the European Union is a contentious political issue in Iceland. Iceland applied to join the European Union on 16 July 2009 and formal negotiations began on 27 July 2010. However, on 13 September 2013 the Government of Iceland dissolved its accession team and suspended its application to join the EU. On 12 March 2015, Foreign Minister of Iceland Gunnar Bragi Sveinsson stated that he had sent a letter to the EU withdrawing the application for membership, without the approval of the Althing, though the European Union stated that Iceland had not formally withdrawn the application.

            If negotiations were to resume, Iceland would face contentious issues on fisheries which could potentially derail an agreement, despite already being a member of the European Economic Area [EEA] (which excludes fishery). If an agreement were to be concluded, the accession treaty would be subject to a national referendum in Iceland and require ratification by every EU state.

            https://en.wikipedia.org/wiki/Accession_of_Iceland_to_the_European_Union

          • squirrelgrl

            That’s right, they do have the right and we, as consumers, have the right not to buy their junk !

          • Mark

            ——–The Federal Reserve is controlled by the scum globalists and has destroyed the banking system. All central banks are globalists tools and both need to be exterminated. Aka… Rothchilds.

            Chinese products are junk and their manufacturing methods produce low quality and unsafe products such as the pet food scare back a few years ago.

            disadvantages are higher minimums, lower quality of work, and shipping. Just to name a few.

          • socalbeachdude

            Absolutely false. The Federal Reserve is 100% owned by its member bank shareholders who get a 6% annual dividend from the profits of the Federal Reserve and who rebate 94% of the profits of the Federal; Reserve each year to the US Treasury.

            Most Chinse goods are of EXCEPTIONALLY HIGH QUALITY and far superior to older goods produced in the US, contrary to your false assertions.

          • squirrelgrl

            High Quality ? Really? Is that why our TV (that was made in china)quit after 2 years ? The one we had before (for 25 years) was made (not just assembled) in USA.

          • squirrelgrl

            Made in China !!!! They denied that for a long time, but after the “watchdogs” got after them, they admitted it !

          • Jack Frost

            Was a major fan of the Craftsman brand until my wife gifted me a rolling toolbox. The metal was so thin I could have bent or deformed it quite easily with my bare hands. It holds less valuable items mainly as simple storage as there is no real protective value to the box. Some of the old tools are still plugging along after three decades of usage. Here’s hoping the new owners restore some luster to the venerable Craftsman name for tool quality.

          • Sean Thomas Taeschner

            I find them at estate sales.

        • Richard T.

          I guess they figured it out that if they make things that last 50 years, then they will run out of customer to buy things in the short term! So why not make things in China that only last for 3 or 4 years and then they will all be back to buy new tools in 3 to 4 years?

        • Country Codger

          I have Craftsman tools I bought 40 years ago, some my dad bought and even some from my grandfather who had nothing but Craftsman. I have his 1939 wood lather and planer/joiner. In the early 2000′, 03, 04, someone stole over $20K of my tools and I had to replace them. Bought Craftsman. I have replaced many of them with Harbor Freight tools because Harbor Freight will honor their lifetime warranty and give me a new tool. Sears will give you a refurbished tool. I have several “new” Craftsman tools with other people’s names etched into them. That is why I quit Craftsman. Besides at my age the Harbor Freight tools will probably outlast me now.
          Shalom,
          CC

          • joey

            I’m sure the Chinese slave laborers you supported by buying Harbor Fake tools thank you from the bottom of their abused hearts. You’re the individual version of traitor corporations. Wear your treason proudly!

          • K

            Wow judgemental much? You do know craftsman are made in China as well, right? Also India, not much better. Sears even has active lawsuits for misleading the public, as to the origin of their tools. Same for Kenmore, once my favorite brand. Now mostly made by LG.

          • socalbeachdude

            There is nothing misleading at all as to the origin of Craftsman tools all of which are stamped as to their country of origin as is required on all goods. Many are still produced in the USA.

          • K

            The misleading involved was their commercials. And since the judge let it go forward. There must be grounds for the suite.

          • socalbeachdude

            What exactly was in any way “misleading?”

          • socalbeachdude

            Harbor Freight tools are not known for having very high quality and are all produced offshore – mostly in the PRC.

          • awb22

            Like everything else.

          • Orange Jean

            One thing you might want to check out is some of the antique stores (I kid you not!)… my brothers go there to find tools, and I’ve been with them and see a lot of old tools that look to have been very well made and well cared for. Takes time though… I was trying to find a thingy my father used to use (a sort of hand held screw driver with a thing you rotate like an old fashioned egg beater)… but couldn’t find one.

            I’m thinking they probably come from estates where some guy had good tools and cared for them but when he dies the widow sells the stuff to an auction house.

        • socalbeachdude

          Craftsman tools and equipment are still of absolutely excellent quality and have a lifetime warranty which will continue.

          • awb22

            What about the US jobs?

          • socalbeachdude

            What about them?

        • John

          I have my grandfather’s Craftsman jigsaw and I am 52. It still works great. They don’t make anything like that anymore.

          • socalbeachdude

            Those saws are just as good now as they ever were from Sears / Craftsman.

          • awb22

            when do we hold China accountable for stolen intellectual property and slave labor?

          • socalbeachdude

            What “stolen intellectual property” are you talking about? The US has no say at all as to what companies in China pay their employees and the only way to attempt to balance the huge differential in pay between the US and China is with TRADE TARIFFS.

          • awb22

            Are you a deliberate liar, or just delusional? I’m guessing the first.

          • socalbeachdude

            If anything those saws in 2017 are far superior to older versions and are much safer with the latest features.

        • SnodtBlossom

          Guest, put a block on Bill G Wilmington. He hangs inverted pentagrams in his closet while pretending to be Jewish and Christian

      • Bill G Wilminton NC

        Guest Put A Block On socalbeachdude…..many already have starting with me.

        • awb22

          I’m beginning to feel the same way. He’s a global capitalist, unproductive and beggaring his neighbor to a fault.

          • socalbeachdude

            Laughably false.

      • Mondobeyondo

        You are correct. They did sell their brand.
        Whether their (former) quality will be maintained… we will see. Hopefully it will not be high quality plastic wrenches and screwdrivers made in Mexico.

      • socalbeachdude

        The sale of Craftsman to Stanley (Dewalt and Black & Decker) does not change anything for Craftsman customers and part of that seal was a 10 year renewable agreement between Sears and Stanley to make the Craftsman line available in all Sears and K-Mart stores just as presently.

    • Mark

      Online sales has not made up the difference in TOTAL SALES. YOY of total retail sales has been slowly declining for years due to people becoming poorer and having less disposable income. Credit card sale debt reached an all time high in November. Carbsales are down an estimated 11% YOY in 2016. All this globalism has become our disease of collapse.

      • socalbeachdude

        Absolutely false. Total retail sales in the US have increased YOY (Year Over Year) except for a very brief downturn in 2008-2009 as you can clearly see from the article and chart below.

        United States Retail Sales YoY | 1993-2017

        http://www.tradingeconomics.com/united-states/retail-sales-annual

        Total credit card debt in the US is very low and is only around $1 trillion of the total of more than $64 trillion of outstanding debt across all sectors of the US economy. Student loan debt is much higher than credit card debt. Credit card debt now is only slightly higher than it was in 2007 which was 10 years ago.

        • Mark

          There is $120 trillion total debt and no retail sales have been declining due to household income decreasing $5000 in the past 10 years. People have less money due to lower quality of jobs and phony trade policies. Those websites you post are propaganda tools to persuade a stat that is always manipulated. Having money to spend and using a credit card because you do not have the money are two different scenarios. Those articles are false. Gasoline sales make up a very large portion of retail sales which also distort the true stat. People are not buying new boasts and cars every year which is a result of house household wealth shrinking. All lies. 2016 was the worst fro retail sales. Part time jobs can not make up the difference in good jobs lost over the last 20 years.

          • socalbeachdude

            No, there is “only” $64 trillion of total debt outstanding in the US and of that only about $20 trillion is federal government debt. The sources I cited are 100% correct as to the RISE IN RETAIL SALES over the years since 1993. Retail sales were UP AGAIN IN 2016.

  • socalbeachdude

    I was to a variety of stores today in the South Bay area of Los Angeles, California at Del Amo Mall which is one of the largest malls in the US and it is just amazing the junk that people are buying at retail stores these days. That area is a reasonably high demographic from an economic standpoint, but most all of the people shopping at the mall look very down scale including the sea of them buying very high priced junk food in their huge “food court.” The stuff inside JCPenney was appallingly awful but lots of people were walking out with bags of merchandise. Across from it I went into a Burlington Coat Factory and it was filled with mostly junk including absolutely hideous clothing item and all sorts of other stuff including kitchen items and the entire crowd there was highly ethnic and there was a huge long line streaming up to the registers.

    The rest of this recently remodeled Del Amo is filled with all sorts of tacky stores including endless clothing stores. Its major anchor tenants are Sears, Macy’s, and a newly installed Nordstrom which moved from the Galleria Mall further to the north in Redondo Beach. The Sears store is quite nice, but not very busy and is located at the outer edge of the Mall so you don’t have to go into the Mall to shop there. Hundreds of millions of dollars (around $300 million) have recently been spent by the Simon Property Group to remodel the Del Amo Mall which is now the largest mall in the Western United States, and Simon also operates a number of other large malls around the country.

    • LIZ THE SHIZ

      that’s because you are banned from Rodeo Drive and The Grove

      • Bill G Wilminton NC

        LIZ Put a block on socalbeachdude give us all a break

      • socalbeachdude

        Rodeo Drive is not intended to be a mall experience and the closest mall experience to Beverly Hills, CA is Beverly Center.

        • LIZ THE SHIZ

          oh, thanks for the info, you must be a great tour bus driver for TMZ

    • ALWAYSTOMORROW

      Why would you go to a mall unless it was just to pass along the info here?

      • socalbeachdude

        Huh? There are many reasons to go to malls, not the least of which is to browse and purchase stuff.

      • Orange Jean

        I used to go mainly to walk when I lived in places where it got too hot or too cold to enjoy walking outdoors.

    • Richard T.

      Well, I used to work in one of those fast food places you are talking in Del Amo!

      • socalbeachdude

        The entire “food court” has been radically redone and now is located in the area above Carson Street and is huge and sided by Nordstrom to the north and Macy’s to the south. The most dramatic new feature is plant covered walls.

        • Richard T.

          Doesn’t sound too bad. It was a good place for high school kids to work while still in school. But it’s not a good place to work if one has a family to support. Still remember the $4.25/hr wage! I haven’t been back to the area since mid 90s, I am sure I won’t recognize it now if I go back.

  • socalbeachdude

    The Limited Is Closing All 250 of Its Stores

    Women’s apparel chain The Limited on Sunday began closing all 250 of its stores across the United States and is slashing 4,000 jobs, the latest casualty of shopping’s move online and the growth of fast fashion chains.

    http://fortune.com/2017/01/08/thelimited-closing/

  • HeyAHuman

    Gives a whole new meaning to the name “The Limited”…

    • socalbeachdude

      Sure does!!!

  • socalbeachdude

    Federal Debt in FY 2016 Jumped $1.4 Trillion, or $12,036 Per Household

    In fiscal 2016, which ended on Friday, the federal debt increased $1,422,827,047,452.46, according to data released today by the U.S. Treasury.

    At the close of business on Sept. 30, 2015, the last day of fiscal 2015, the federal debt was $18,150,617,666,484.33, according to the Treasury. By the close of business on Sept. 30, 2016, the last day of fiscal 2016, it had climbed to $19,573,444,713,936.79.

    According to the Census Bureau’s latest estimate, there were 118,215,000 households in the United States as of June. That means that the one-year increase in the federal debt of $1,422,827,047,452.46 in fiscal 2016 equaled about $12,036 per household.

    The total federal debt of $19,573,444,713,936.79 now equals about $165,575 per household.

    http://www.cnsnews.com/news/article/terence-p-jeffrey/federal-debt-fy-2016-jumped-142282704745246

  • socalbeachdude

    Accounting Gimmicks Won’t Stop The U.S.A. Titanic From Sinking

    The U.S. Government has gone to great lengths in using accounting gimmicks to prop up the financial system and domestic economy. One area where this is readily apparent is the disconnect between the rising U.S. debt versus the annual budget deficits.

    From 2000-2016, the total U.S. debt increased by $13.9 trillion while the annual budget deficits equaled $9.1 trillion. Thus, we had a net difference (or shortfall) of $4.8 trillion. Basically, the total U.S. debt increased $4.8 trillion more than the annual budget deficits during that time period.

    The extremely large deviation between the deficit and debt in 2016 illustrates the complex nature of the government accounting.

    The increase in debt for that period was over $1.2 trillion while the deficit was $524 billion, a near $700 billion difference. The discrepancy between these two can be broken down as follows:

    (a) $109 billion was due to the change in the treasury cash balance, a common and well understood variable item;

    (b) $270 billion reflects various accounting gimmicks used in fiscal 2015 to limit the size of debt in order to postpone hitting the Debt Limit. Thus, debt was artificially suppressed relative to the deficit in 2015, and the $270 billion is merely a reversal of those transactions, a one-off, non-recurring event;

    (c) $93 billion was borrowed by the treasury to make student loans, and this is where it gets interesting. Student loans are considered an investment and therefore are not included in the deficit calculation.

    (d) In the same vein, $70 billion was money borrowed by the treasury to increase spending on highways and mass transit. It is not included in the deficit calculation even though the debt increases;

    (e) $75 billion was borrowed because payments to Social Security, Medicare and Affordable Care Act recipients along with the government’s civilian and military retirees were greater during this time frame than the FICA and other tax collections, a demographic development destined to get worse;

    (f) Finally, the residual $82 billion is made up of various unidentifiable expenditures including “funny money securities stuffed in various trust funds”.

    Total current U.S. debt is $19.9 trillion. This includes $14.4 trillion in public debt and $5.5 trillion in Intragovernmental Holdings.

    https://srsroccoreport.com/accounting-gimmicks-wont-stop-the-u-s-a-titanic-from-sinking/

    • Cinderella Man

      Great post

  • socalbeachdude

    The so-called “Great Depression was actually just a VERY MINOR AND SHORT-LIVED BLIP.

    The Great Depression itself was really nothing more than two separate periods of recession the first of which started in August 1929 two months before the stock market crash of 1929 and which lasted only until March 1933. Then there was a recovery which lasted 4 full years with positive growth in GDP until May 1937 when the economy dipped into another very short recession which only lasted until June 1938.

    http://ingrimayne.com/econ/EconomicCatastrophe/GreatDepression.html

    This time around the Grand Global Depression is likely to last considerably longer and actually started in August 2007 and will be with us last least out through the end of 2032. And the numbers are vastly larger today by extreme orders of magnitude.

    The affects of the GGD are being masked by huge government deficits without which GDP would be decisively negative and by such programs as food stamps which are the modern equivalent of soup kitchens for 50 million Americans.

    The cause of the so-called Great Depression was the COLLAPSE OF AN IMMENSE CREDIT AND SPECULATIVE BUBBLE from the 1920s on Wall Street. The massive slowdown in the US economy began in 1928 as the huge credit bubble blown during the 1920s began to burst. The crash in the real estate markets began in 1926 in Florida and was epic and rolled through most of the country up in to the 1930s. The stock market crash of 1929 was just one of the many events during that time period from 1926 through 1938 caused by the bursting of the 1920s massive credit bubble.

    This time around the Grand Global Depression is likely to last considerably longer and actually started in August 2007 and will be with us last least out through the end of 2032. The affects of the GGD are being masked by huge government deficits without which GDP would be decisively negative and by such programs as food stamps which are the modern equivalent of soup kitchens for 45 million Americans.

    • awb22

      Why not call the GGD, the Greater Depression? I expect that’s what most will be calling it, rather than your dainty name for it? The effects of which will be much worse as well.

      • socalbeachdude

        The GRAND GLOBAL DEPRESSION is the best name for what has been going on since August 2007 and which is now rapidly intensifying.

        • awb22

          It’s referred to as either the Great Recession, or the Greater Depression. Call it what you will, that’s what everyone else calls it.

    • Orange Jean

      Not according to my father, who lived through it… made him super frugal for the rest of his life, always afraid it would happen again.

      • socalbeachdude

        His perceptions do not align with the actual facts.

  • barry oldwater

    Sears should have gotten out of women’s fashion, jewelry and fragrances, concentrated on what men wanted and household items, with only small portion being dedicated to clothing for everyone, kept craftsman made in america, built stores outside of malls and put in small grocery section. Stores like that nip at Walmart profits, they could have restructured and came back but with fewer and fewer stores buying power will not be on their side to offer discounts. Maybe they can turn stores into warehouses that ships products ordered online with people able to come in and buy directly from them from a kiosk.

    • SnodtBlossom

      Craftsman is the only screwdriver that ever broke on me.

      • Guest

        Uh, sure. I think it was user error.

        • SnodtBlossom

          ..and it was the metal part

      • old fart

        were you trying a rectal insertion at the time?

        • SnodtBlossom

          no, i was diggin it out of yo momma’s azz

  • socalbeachdude
    • awb22

      No, he can’t pull a Reagan, the so-called peace dividend, more aptly called the world’s reserve currency dividend has been spent. The only thing left now is to repeal the Federal Reserve Act and repudiate the debt.

      • socalbeachdude

        False. The Federal Reserve isn’t even slightly part of the problem which is a DEBT PROBLEM with more than $64 trillion in debt across all sectors of the US economy – not a penny of which has been run up by the Federal Reserve.

        • awb22

          It’s a big part of the problem, when the value of the USD has lost 99% of it’s value in 100 yrs.

          • socalbeachdude

            Nearly everyone from 100 years ago is now dead and they were paid a tiny miniscule fraction of what people are paid today.

            As to the value of the US dollar over the past 100 years…

            No, the dollar did NOT really lose 95% of its value since 1913

            Let us take at the period from 1913-2006, where we have complete data. So what do they mean, when they say the dollar lost 95.1% of its value in those 93 years? Essentially, an average good/service that cost $1 in 2006, used to be priced at 4.9 cents in 1913. In other words, the average price level of goods/services increased by 1930% since 1913. True, but guess what, average earned income increased by 6560% during the same time period. Average earned income rose from $740/yr in 1913 to $49,300/yr in 2006. Adjusting for inflation, $740/yr in 1913 is $15,000/yr in 2006 dollars. Average incomes, not only kept pace, but beat price inflation by 230%.

            So does it make any sense all to say the dollar lost value? In reality, the REAL purchasing power of the average American, has increased by 230% in the past century. Sure, prices were cheap in 1913, but $740/yr doesn’t buy you a whole lot, not anymore than 15,000/yr today.

            http://realfactbias.blogspot.com/2012/02/no-dollar-did-not-really-lose-95-of-its.html

          • awb22

            Inflation is far higher than the CPI indicates, so if you’re under reporting inflation, then the value of the dollar has lost far greater value, and the 1913 income adjusted for inflation would be also be much higher.

            The simple fact of the matter is the Federal Reserve is but one of the mechanisms used to facilitate criminal fraud and support a world system designed to enslave man. You’re doing no one any favors by paying it lip service.

            I agree debt is a big problem. So, another solution is to have a credit reset. How about that? Or, simply remove all usury.

            That would piss off a bunch of Jews, but they’ll have gotten what they deserve, and perhaps even lessen their judgement when Christ, or perhaps not.

            Nobody cares whether you accept the Federal Reserve is part of the problem, or whether you even think there is a problem. You’ve stated elsewhere $64T in debt is a problem. OK, what is your solution? Criticism without putting forth your own proposals is vacuous. Please tell me that is not the sum and substance of your presence on this forum.

          • socalbeachdude

            The value of the US dollar on the DXY (basket of currencies on FOREX) has been SOARING UPWARDS ever since 2014 and is now at 11 year highs. The purchasing value of the US dollar has also soared upwards against nearly all of the world’s 27 major commodities ever since September 2011 when commodities started plunging enormously.

            The only 2 items that have really gone up in terms of general inflation are 1) medical expenses, and 2) real estate costs.

            Food prices are down considerably over the past few years and are largely driven by commodities prices. Most other prices are unchanged and there is no inflation of any significance at all.

            There is no “fraud” let alone “criminal fraud” involved with the Federal Reserve which is merely a CENTRAL BANK and a very conservative central bank in the United States.

            The Federal Reserve DOES NOT COST TAXPAYERS OF THE US A SINGLE PENNY. The 6% dividend to member bank shareholders COMES FROM PROFITS GENERATED BY THE FEDERAL RESERVE AND HAS NO COST WHATSOEVER TO TAXPAYERS WHO GET MORE THAN 94% OF THE PROFITS OF THE FEDERAL RESERVE EACH YEAR REBATED TO THE US TREASURY. What is so difficult for you to comprehend about that.

            The total size of the Federal Reserve balance sheet is around $4.4 trillion and the Federal Reserve has not run up a single penny of the US government debt but rather holds / owns about $2.5 trillion of that debt which is INTEREST FREE TO THE US TREASURY and its taxpayers. There is NO COST AT ALL TO THE US TAXPAYERS from the Federal Reserve but rather nearly $100 billion in revenues to the US Treasury.

            A significant part of the more than $64 trillion in debt across all sectors of the US economy will simply have to be written down or off and that will cause very substantial ASSET LOSSES to the holders of that debt.

          • awb22

            You’ve made the case for the central banks not costing the taxpayers a dime, and you couldn’t be more wrong.

            The amount of interest paid on the national debt miniscules the dividend payment you cite.

            The entire central banking system is fraudulent and unconstitutional.

          • socalbeachdude

            The Federal Reserve does not cost US taxpayers a single penny to operate and in fact exactly the opposite is true as it rebates more than 94% of its annual profits each year to the US Treasury which now amounts to around $100 billion a year in revenue for the US Treasury and the taxpayers of the US government. Are you somehow not aware of those facts?

  • socalbeachdude

    Conservatives vote to increase debt by $9 trillion?

    http://www.sacbee.com/news/politics-government/article125030534.html

    • Riiiight, Conservatives are terrible but Communist Democrats are great.

  • socalbeachdude
    • Carl

      Ironically Amazon has yet to make a profit.

      • socalbeachdude

        They have a very meager little profit compared to revenues but their stock is one of the most overvalued stocks in the entire stock market.

      • Mr.Cipher

        BS

  • Marco Lorenzetti

    I totally agree with the conclusions in the final part of your article. I think things will go worse. To your analyze you should also introduce the next advent of robotics: analysts say the more than one third of the current jobs will disappear, replaced by robots (a lot of well-payed jobs are included). No more job for a lot of more people. Will it politically sustainable? With the most part of the population without a job and, consequently, an income… who will buy the stuff produced by robots? More and more politicians begin to speak of Basic Income for all the citizens, but is it economically sustainable? And for people without a work, what is the hope to improve their conditions? Because it is clear, if we are speaking of Basic Income, it will the lower possible and it can just assure the surviving of the population. We have already seen it. The Romans did it (Ok, in a different way, but it is comparable) and all of us have seen how it ended! The total collapse of the Empire. Best wishes for a Happy 2017 (so to speak!)

  • Bob

    Did all of you notice more people shop at dollar stores? Many of these stores have food items and canned goods. That should tell you how many people struggle because of the economy.

    • Guest

      Yeah, one time the local Dollar Tree store had a sign on the front of the store that said “Ribeye steaks $1.” Yuck.

      • SnodtBlossom

        lol.. yeah.. you gotta love their paperthin steaks

  • donald

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    • Richard Carney

      “…what does it profit a man if he gains the whole world and forfeits his soul or what will a man give in exchange for his soul?”

      • rrrr

        Well, he gains the whole world.

        • Richard Carney

          you might want to do a study on the “lose your soul” part of the equation… I’m sure there’s something in the Bible about it…something about a “Lake of Fire”, as I remember it.

  • awb22

    With all the store closures, malls are going to be unable to make payments, and we could see a round of foreclosures in the commercial sector, which was curiously absent during the GFC of 2008, and the world’s economy continues to circle the drain.

  • Lorungee

    Another possible reason for online sales going thru the roof may be in the newspaper headlines…..and in the internet news sources. It may be a whole heck of a lot safer to shop online after reading stories of “teens” running amok and causing public havoc in malls.

  • Rick

    Michael, you are too dramatic… “We have never seen anything quite like this in our entire history, and nobody is quite sure what is going to happen next.”. You’re kidding right? Just a couple of years ago you were telling us the world was ending since Walmart the world’s largest retailer was closing hundreds of stores! So we actually have seen this before and survived it.
    You did nail the fact that online business is just crushing retail. But one mans demise has many times led to another mans fortune. So it is with us in Fargo, ND where our Sears in the big mall is closing.
    The way I see it is our Muslim population is exploding here, they will need to expand their Mosque facilities. What better location than to move into the vacated Sears space in the mall. That way, they can hold services, and then run right down the hallway to commit their next terror attack on a mall and the people in it. Then can retreat right back to their sacred place without even having to set foot outside in these -20 F temps. Brilliant!

    • ALWAYSTOMORROW

      Yes. As you stated, the world is forever changing.

      Adjust accordingly or hide and cower in fear in the corner of your bunker.

  • Judy Shewmake

    Rather than drive 90 minutes to large city, park and get out at 20 strip malls and still not fine what you need, then return phone; I’d much rather spend five to ten minutes on Amazon, get exactly what I need and be done!

    • socalbeachdude

      And what exactly are you shopping for on Amazon?

  • Carl

    I don’t believe the authors Macy’s post at all. Sounds fake and contrived. They don’t sell I heart Jesus t-shirts at Macy’s so it’s no wonder he couldn’t find what he was looking for.

    • socalbeachdude

      Macy’s is a HORRIBLE store.

  • HeyAHuman

    Shedding the holiday fat. Isn’t this just a January thing?

  • L. A. McDonough

    We shop Belk dept store and buy most our clothes and shoes at Academy Sports & outdoors. We don’t buy clothing online, except athletic shoes at Zappos once because they were out of my size @local store. Sears and K mart are so twentieth century, not cool, need to drop off the planet. JCP and Kohls ok, but not as many markdowns now days. Old Navy stays busy, good sales….reporting from S. Ala.

  • LIZ THE SHIZ

    soon Jeff Bezos and Jack Ma will be richer than the Forbes 400 richest combined and Amazon will offer the “Mark of the Beast” prime for $12.99 per month

  • LIZ THE SHIZ

    was your bf trying to unscrew you at the time?

    • Bill G Wilminton NC

      Block snotty…give us a break

    • SnodtBlossom

      You are a Stinkstiefel

  • rentslave

    Will Bezos ever figure a way to close all brick and mortar primary schools?Perhaps with traveling robotic educators?

  • Jack Frost

    No real retail apocalypse in truth, just zombie companies who no longer have cash to burn. These should have been liquidated years ago. Denying the future and failing to adapt to reality does not affect reality in the least. Sears can commiserate with blockbuster about how wrong everything went “suddenly”…

  • Dean Nelson

    Where is my sweetheart Snodblossom? I miss her dearly.

    • Sumatra

      What happened? Somebody finally banned her? I missed the announcement.

  • Sales are booming for online retailers like Amazon, sorry. Nobody wants to drive across town to shop in a big box store when they can shop online and find infinitely bigger selection, much better bargains, and less idiots in the way, and have all their stuff delivered right to their door. These big box stores NEED to go out of business to make room for smaller, more efficient, highly specialized businesses. Sears and Macy’s are just giant wastes of space, still trading on their famous names which is all that remains of their once great commercial legacy, and they should have gone out of business 20 years ago, it’s good for the economy when bloated, obsolete businesses fail. That’s a good thing. Boycott these creeps, lets get some new blood in there.

    • socalbeachdude

      Sears is an excellent full-fledged department store.

      • ALWAYSTOMORROW

        The last time I walked into a Sears store I thought I had stepped out of a time machine with the date set somewhere in the early 1980’s.

        • socalbeachdude

          The Sears Del Amo store is very nice.

  • primitivone

    k-mart is closing stores also

    • socalbeachdude

      K-Mart is part of Sears Holdings Company.

  • alan

    Fast food should be next, they are over due for a culling.

  • Alberto Francis

    is this really a surprise? We are all aware that wages have not gone up for the past 20+ years. We are all aware that the only people benefiting from our longer hours and less pay producing products and services are those at the tippy top of the class system. Middle class is being integrated back into the lower class. Both Rep and Dems are escalating that decline with expediency.

    Instead of the labor class coming together and fighting the true threat to their prosperity mainly wall street, corporations and the billionaires who are systematically attacking any resemblance of labor organized groups and grinding them into pulp! We rather blame poor blacks who have no economic or political power (please!)… a wall for mexicans who clean rich peoples floors and delivery your fast food (you got to be kidding me).

    The only reason mexicans are taking any jobs if that is because the owners of those business HIRED THEM and are BREAKING the LAW doing so but rather given them the job that pay you a decent wage so you can live, and save a little for retirement and yes every so often go shopping so that Sears doesnt go bankrupt.

    Please continue blaming everyone else but the people who make all the decisions in our economy! Dont blame the CEO’s and directors who ship your jobs over sea or reduce your pay or lay you off. Obviously its the mexican washing dishes in the back of the restaurant that is the cause of the down fall of America, because at night that mexican cleans your floor but during the day is on the board of directors at your company and just decided to move all your jobs to Mexico, because you know their mexican. It was them in the 80’s 90’s and early 00s who decided to say F America and left you jobless. It was them who started the predatory lending, and manipulated the libor, or maybe opened that fake bank accounts at Wells Fargo. Right we are sending all of those bastards to jail… ooops nope instead we give them our tax money to those who F’ed up the economy and now put in a POTUS who just filled his entire staff with the same people who are effectively destroying this country. But every single person in poverty in america is the source of all ills. IF your homeless, poor, black, latino, white trash, whatever. YOU are the cause of my downward mobility!

    LOL Pathetic!

    • Orange Jean

      Well an awful lot of the Mexicans where I lived in San Diego County weren’t working at all… just collecting “benefits”.

    • sister soldier

      Interesting view points.

    • geoffandmarie418@aol.com

      You are a smart man!!. It is our own fault ( middle class / lower class ) that we are in the predictimen we are in.We fight one another instead of the common enemy, who is smart enough to take advantage of our (middle class / lower class ) UN ability to unite!

      It is not the rich and powerful’s fault they are smart enough to take advantage of our weaknesses!!!

      • Laker

        Great post- you just showed us all how moronic most people are. Alberto is exactly right, but 99% of the sheep just can’t see it.

        • geoffandmarie418@aol.com

          Thanks!! Let’s hope people read the post and think about it for a while. We Americans really need to unite before it is really to late.

  • GSOB

    Times are always changing.
    Malls and airports turning into soft targets.
    Why pay for gas to go shop?
    As the chaos grows, folks would rather shop the internet safely from their home.
    No brainer.

    • Mr.Cipher

      Reminds me. My Amazon payment is due.

  • L

    Nonsense! Retail stores are alive and well. Every time I go to the mall it is packed. The reason these stores are going under has to do with many factors. First, they hire lousy employees who have no clue about what they’re doing. Please, Kmart? That place is full of ignorant drop outs, rude employees with missing teeth! Secondly, management doesn’t know how to manage. They haven’t a clue how to motivate employees. They have little knowledge about the products they are selling. They can’t lead a team to the bathroom! These faults keep customers away. Not only that, these retail companies make bad choices. Often they don’t keep up with customer demand. They do not keep up with trends and the changing consumer tastes.

    I don’t mind shopping on Amazon. But I don’t find their prices any cheaper than a brick and mortar store. Plus, I have to pay shipping. If given a choice between ordering on Amazon or going to a store to buy the exact same item, I’d rather go to the store. In fact, I often find Amazon actually costs more. It is not worth the cost of almost $100 to join Prime. I admit that Amazon is killing the online retail market. But I am not buying that they are wiping out brick and mortar stores. There are many reasons for store closures. Many of which are lousy business procedures and have nothing to do with online retail. Another reason, the loss of good quality merchandise. Stop selling and buying cheap crap made in China! People want quality stuff.

  • Sean Thomas Taeschner

    People are also afraid of terrorist attacks while at stores and malls.

    • socalbeachdude

      The chance of FLASH MOB attacks is far greater and there were slews of those at malls in America during the holiday season and a number of malls are now banning unaccompanied teenagers.

      • Orange Jean

        Actually I’m afraid of both terrorist attacks AND flash mob attacks.

  • Orange Jean

    It’s been years since I shopped at Macy’s and even longer since I shopped at Sears… and both for the same reason. They started stocking mostly fuddy duddy stuff I did not want. I don’t believe I’ve *ever* shopped at The Limited.

    As to malls changing, well… it really is not a new phenomena. I used to do environmental planning in Southern CA (1989-1992) and one of the main things we worked on were projects where someone was building a new mall not far from an old mall. Basically it was a way to generate “excitement” when the old mall started looking ratty – something I called “dead mall syndrome”. For a time there were some really elegant old malls (like Copley Plaza in Boston) I used to go to just to get out of bad weather and have a nice place to walk… but rarely spent money, to be honest… except maybe taking my self out to lunch.

    A lot of strange ideas from developers over the years to generate “excitement” at malls, with new styles. For example the “outdoor” mall, made to look like a small town circa 1950s… where you have to walk from store to store outdoors instead of under a roof. Well, the places where that type of mall works would be where there is comfortable year round weather (like Fashion Valley in San Diego or some others in Southern CA)… but it was a disaster of a concept in places like the Southeast where the summers are brutally hot and humid! There are a couple I’ve been to in Raleigh NC (Greenbriar) and also Richmond VA (Short Pump Mall) .. but those are impossible to deal with in summer. Like trying to shop in the jungle!

    I do agree that some of it has to do with online shopping and also people having less to spend.

  • Rumplestiltskin

    From personal experience, Sears started losing it when they went to 21% interest on their credit cards and started an investment arm. They let their core business falter to try and see if they could take their investors for a ride in the investment market. It only took twenty years to prove that if you let your core die, the rest of the body dies with it !!!

  • ebt

    how is that even possible?they buy nothin but cheapass Chinese crap made with virtual slave labor so their cost must be pennies on the dolla,plus most American consumers on some kind of gov’t handout (free mony) ,how can u not turn a profit with all that In you favor lol

  • SnodtBlossom

    The firestick is like the rest.. very commercialized.. until you jailbreak it w/Kodi.. Kodi is like the only think worthwhile

  • John

    We lost our Sears several years ago. Then a year or two later, the K-Mart across the street from the closed Sears closed. Our next closest full Sears, about 45 min away, is slated to be closed this time. I also read that Sears has sold off Craftsman tools. A Walmart Hometown Grocery replaced the K-Mart and a Steinmart is soon replacing the old Sears space here.

  • Alberto Francis

    Should more of these type of business be made co-ops? Due to the fact that they impact the locals in those same communities heavily.

    Meaning should a business that let say employs significant portions of a community, before being sold, closed or moved be given to the employees first as an option to buy them out? In England and other places they are experimenting with this notion and I think it is interesting idea….

    • socalbeachdude

      No.

  • socalbeachdude

    Worse “than the 1994 ‘Bond Massacre,’” with “sustained double-digit losses on bonds, subpar growth in developed markets, and balance sheet risks for banking systems….”

    The backdrop: after 36 years of bond bull market, the amount of US bonds has ballooned to $47 trillion, up 24% from just ten years ago:

    •US Treasurys ($19.8 trillion),
    •Municipal bonds ($3.8 trillion)
    •Mortgage related bonds ($8.9 trillion)
    •Corporate bonds ($8.6 trillion)
    •Federal Agency bonds ($2 trillion)
    •Money Markets ($2.6 trillion)
    •Asset backed Securities ($1.3 trillion)

    Bonds dwarfs the US stock market capitalization ($27 trillion). Bonds are a global phenomenon with even bigger bubbles elsewhere, particularly in NIRP countries, such as those in Europe, and in Japan. That’s why bonds matter. They’re enormous. And the damage they can do to investors is huge.

    https://srsroccoreport.com/how-bad-will-the-bond-massacre-get/

  • socalbeachdude
    • awb22

      commercial real estate can’t be far behind, or maybe they’ve baked in the fire sale.

      • socalbeachdude

        CRE is a very overpriced bubble.

  • socalbeachdude
  • robert

    One, retail stores have come and gone all my life. Kresges, Piggly Wiggly, A&P, Woolworth to name several. They do not go out at once or they may downsize but there is nothing new here.

    Two, Americans cannot get a car in their garages because the garage is full of crap that eventually gets rolled out for a yard sale. Maybe there is a limit to what people want to spend their money on. A consumer based economy is doomed.

    Three, Americans engage in fantasy economics. This is true at the national govt level down to village level. Pension programs are broke e.g. Dallas Police and Fire. We are going to see municipal bankruptcies galore in the few years ahead.

    Four, Mr. Trump cannot rescue this beached whale. A few thousand jobs here and there is a gnat on an elephant’s behind. Does not matter.

    Nothing like reality to sober up the bar flies.

  • True grit

    Sears had a dirty little trick they used to pull on their suppliers.
    They would give an order for a “test”
    Then give a massive order. they would then allow time for the order to be 90% complete. Then cancel the order and negotiate to buy it for 40-50%.
    Growing up in manufacturing I know three L.A. companies that were bankrupted this way.
    I am delighted that Sears is going out of business.

  • tacoma

    Press Release, Department of Economic Propaganda

    The U.S. economy continue to recover and today achieve good prosperity. Unemployment is below 4%, counting those who are still holding their pink slips. The great American consumer economy is running on all cylinders with record retail sales, counting credit card online purchases. Consumer debt is today $14 trillion, while Federal debt just hit $20 trillion. This is good news because it shows debt continue to be an attractive product for purchase. Fortunately the U.S. can issue an infinite amount of debt.

    • socalbeachdude

      No, the US cannot issue an infinite amount of debt.

  • Dave of OK

    If on-line shopping is the way most Americans are going to shop and local stores keep closing. What will happen in a World RESET situation? The internet will be off line and local stores will be closed. Until things get up and running again, we better improve our wool and cotton spinning skills.

    • socalbeachdude

      The internet most certainly is not going “off line.”

  • Sumatra

    …And then you complain about millennials living with their parents.

  • Guy De Simon

    Same in Spain. El Cortes Ingles (the english cut), Spain’s best, over the decade or so buys stock for its sales; It’s normal stock consists of overpriced brands like Levis so it can sell its overpriced own label that appears cheap in comparison. Not surprising that shoppers go online unless they can afford the genuine designer labels.

    • socalbeachdude

      It’s no cheaper online. Sears had Levis (501, 505, etc.) on sale for $39.99 during December and now has them for $42.99 and they’re much more expensive if you go to Levi.com to purchase jeans.

  • Roy Sperbeck

    The problem is the retail stores don’t have everything at the store .You have to go online for many things. NO 2 the sales people do not know anything you ask them about like what they have in the department {tools at Sears ,chemicals in the paint dept at Homedepot ,even buying a washing machine at Lowes ,this happens at most all the stores .Incompetent people and they just don’t care.

    • socalbeachdude

      Retail department stores have a huge amount of merchandise and in most cases have competent help to assist you with your desired shopping and purchase.

  • thegeorgespyman

    Sears closed out here in Canada already. Where some of these stores failed was they didn’t see the forest for the trees. After they were off the rails, they tried to correct things. They get their products from off shore and then charge the same exorbitant price as if it was made in a union shop here as opposed to a sweat shop. So there’s no incentive to shop there. You might as well go to the store that replaced them Saks Fifth Avenue. They’re opening all over. That’s the laws of economics folks Ricardo’s doctrine of comparative advantage. New things take the place of the old. So people are prepared to shop and to pay. They just are not going to shop or pay at your store. The credit cards rates for these stores are unchanged since the days when the interest rates were high across the board. They should be no higher than 10 per cent, but the lower the better. Some stores here in snow country have zero rates for purchases on one or two year terms. That moves merchandise. Sears did it after it was too late. So its hard to feel sorry for bad management. They drove their stores onto the rocks with unresponsive management ideas. That could be termed evolution. Some go extinct. Some prosper. We had best learn to prosper. As my father used to say it’s better to sell a million things with a small profit than a few with a large profit per item margin. But that’s the joy of business Darwinism.

    • socalbeachdude

      There are no interest charges on credit cards if you pay the statement balance in full each month. If you can’t afford to pay in full what you buy each month then simply don’t but stuff until you can afford to pay in full.

  • geoffandmarie418@aol.com

    On line shopping has expanded ( so have Americans waistlines). That is part of the reason store sales are going down. The other reason is 75% of the jobs being created since the great recession are minimum wage jobs or just a little above minimum wage that pay very little.
    A lot of people who after paying their rent, car payment, food, etc… Have little left over for shopping.

  • Jaff Dessions

    ? Why are millions of US seniors being afflicted with Alzheimer’s, Dementia and cancer, just look at the wealth being drained from million of families to place their loved ones in big pharma care facilities.

    The only known Major US politician to afflicted with Alzheimer’s over the past 35 years was Ronald Reagan, does this mean that millions of Americans are being targeted with the disease. ? With all the aging US senators, congressmen and other high ranking Govt officals ??? are these folks receiving a vaccine to keep them from getting the illness???

    Since it’s a known fact that for centuries marijuana
    has been used to cure many illness why is the US GOVT jailing and has jailed many of Americas youth for decades

    ?? How many young men sit in jail cells in Alabama prisons because of Neanderthal Jeff Sessions approach and radical views toward this plants amazing healing powers?

    How much US Taxpayer wealth has been wasted on the US military???

    Wars A Racquet

    How much US TAX payer money is being illegally used by the US GOVT to spy on US citizens, check out fusion centers the HSD, is spying on every American 24/7

    SO MANY QUESTIONS and yes the answers are in plain sight

    • socalbeachdude

      Old folks have always been inflicted with senility.

  • organicfoods

    What it used to be an average quality merchandise, the department stores, quietly, over time started selling as a luxury for much higher prices.The designs, quality of materials, and service to go with it has gone to hell.All these get lost in stores are peddling mostly flea market garbage merchandise with no customer care.Better see them go.

    • socalbeachdude

      Huh? Sears has excellent quality merchandise.

  • J.j. Cintia

    These businesses are dying because of greed plain and simple. That Libertarian Fantasy of free trade and cheap labor is hitting the Old Adage of you have to spend money to make money. America doesn’t make anything anymore. That better life only looks good to idiots from Failed States now. The stupid premise that making it cheap and paying low paid dummies to sell it makes money is flat broke wrong. Wall Street and bankers know the price of everything and the value of NOTHING.
    I don’t care how cheap it is to make it in a Third World Slave Labor Camp. It doesn’t matter how replacing American workers with wage slaves from Failed States adds to your bottom line. When no one has the money to buy it, YOU’RE STILL BROKE AS A JOKE LOSER.

    • socalbeachdude

      America remains the second largest manufacturing country in the world, but much of that manufacturing is for high-value added goods such as turbines, jet planes, construction equipment, and other non-consumer goods.

  • BellsNwhistles

    Americans know Macys/sears pay pennys for the chinese junk they try to selll we are not happy with the lack of USA products.

    • socalbeachdude

      The quality of products made abroad is typically much higher than shoddy products made in the USA.

      That is particularly true with electronics, computers, clothing, small appliances, and most consumer goods.

      • awb22

        Quality control is an issue regardless of where a product is manufactured.

    • justin stark

      Same stuff at Walmart; only cheaper.

  • Matt Bell

    There’s nothing sad about corporations doing badly. Corporations are not people. They are structures designed to make money without anybody being personally responsible for their actions.

    • socalbeachdude

      Corporations are creations of STATE LAW and are in fact considered LEGAL PERSONS under state laws in all 50 states of the United States.

  • justin stark

    Macy’s is pretentious and over-priced.

  • Tatiana Covington

    Out of date! It’ll get worse once 3dp matures!

  • Mark

    I think all of the above issues has contributed to our slow decline. I agree with most of your observations and believe there is no one issue that has caused our decline. I also believe there is no solution until the whole thing falls apart and we have to rebuild our economy and society.

    • socalbeachdude

      And just HOW would you rebuild anything?

  • socalbeachdude

    100% correct, Carl. And those are perfect examples of extreme MALINVESTMENT.

  • socalbeachdude

    American workers are very ill-suited as to producing high quality electronics goods which are produced far more capably and cost-effectively to a very high degree of precision in Asian countries than could ever be produced in the USA with the very pitiful quality of American workers.

    • awb22

      You’re wrong, and obviously know very little about the economics of manufacturing. You’re a global capitalist, keeping all the profit and excludes labor. The china slave labor model suits you perfectly, after having exploited the US labor market and extracting every last bit of value from it.

      • socalbeachdude

        Those are totally false assertions. Companies in the US have the right to CHOOSE WHERE THEY MANUFACTURE GOODS and many choose to manufacture in China for a variety of reasons and that is their right to do so. The distribution and sale of those goods in the US creates a HUGE AMOUNT OF JOBS in sales, marketing, and distribution.

    • Country Codger

      You must be remembering the movie Crazy People with Dudley Moore, the last advertisement at the end was for Sony. It stated, “Japanese are better at making electronics because we are short and closer to the work. Caucasians are too damn tall.” I thought that was hilarious.

      Most electronics are made by robot these days and in 5 to 10 years all electronic components will be made by computer controlled robots in sterile environments that arenot possible with humans. Factories that would have held 2000 employees 40 years ago now only hold 400, produce more, less error, and the main component, lower costs.
      CC

      • socalbeachdude

        I’d suggest you take a walk through a Wal-Mart store anywhere in the US and take a look at their customers and then tell me whether they are capable of producing high quality goods.

        Yes, many workers will continue to be replaced with robots in the US and elsewhere which will result in more unemployment in the US and around the world, but that is simply progress which leads to much greater productivity.

        • Country Codger

          Choose which one you want: jobs or greater productivity . You don’t seem to understand, Wal-martians aren’t robots and will not produce electronics. I have built facilities that have had NO human contact until the UPS/FEDEX/Trucker loaded onto his truck. It was Produced, packed, palletized, and billed by computer, 100% free from human contamination. Screw Wal-Mart. Most of what people buy are produced in very sterile machine dominated assembly lines. The only humans in some factories are maintenance and bean counters and also “management”.

          You don’t realize the level of sophistication that I am talking about.
          Shalom,
          CC

          • socalbeachdude

            That is not a political decision, but rather a set of decisions that EACH AND EVERY BUSINESS MANUFACTURING GOODS MUST MAKE in the course of its business planning. The entire world is moving towards AUTOMATION which includes the use of “robots” to replace jobs previously done by humans and the result is the production of much higher quality goods at lower prices which is the very definition of productivity.

  • geoffandmarie418@aol.com

    Duh!!! Which way did they go.?? Disappearing just like good jobs. Duh!! Which way did they go asked the future little shepple to his mommy/daddy shepple? Mommy /daddy shepple reply ” duh we don’t know either”.

  • John Munro

    Perhaps, stores that sell made in America and not just Chinese re-packaged stuff? Should we really support Communist regime that persecutes Christians?

  • squirrelgrl

    We work hard for our money, plus, there isn’t a lot of “disposable” income left. I think one of the main reasons is…who wants to spend that hard earned money on junk from china that you just end up having to replace in a year or two. Sears in particular. Craftsman used to be one of the best brands you could buy, now it is made in china and is junk. I just don’t understand why these stores that have spent SO MANY YEARS building their reputation, would throw it all away to save a little money, by having all their products made in china !

  • RGW Sr.

    1. Loss of industrial base 2. Gov. Regulations on business 3. Unions 4. Malls high rent and not friendly to men in general 5. Internet ease of shopping 6. Crime around malls 7. Boomers ageing. 8. WalMart 9. Poor customer service 10. Break up of traditional American family unit.

  • Yitzhak Gold

    This is The Consumers in response to:

    1. Geo-engineering (chemtrails)
    2. Planned Obsolescence.
    3. Absolute corruption in the governments.

    If nothing changes, this will continue and will become worse.

  • spengler1

    The hustling culture (?) is coming to an end and no one knows what will replace it. But rest assured, there is a sucker born every minute……

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