Tag Archives: Business

U.S. RETAIL APOCALYPSE! MAJOR RETAIL CHAINS CLOSING THOUSANDS OF STORES

20 FACTS ABOUT THE GREAT U.S. RETAIL APOCALYPSE THAT WILL BLOW YOUR MIND

SOURCE: MICHAEL SNYDER, BLN CONTRIBUTOR

Abandoned Mall - Photo by Justin Cozart

If the U.S. economy is getting better, then why are major retail chains closing thousands of stores?  If we truly are in an “economic recovery”, then why do sales figures continue to go down for large retailers all over the country?  Without a doubt, the rise of Internet retailing giants such as Amazon.com have had a huge impact.  Today, there are millions of Americans that actually prefer to shop online.  Personally, when I published my novel I made it solely available on Amazon.  But Internet shopping alone does not account for the great retail apocalypse that we are witnessing.  In fact, some retail experts estimate that the Internet has accounted for only about 20 percent of the decline that we are seeing.  Most of the rest of it can be accounted for by the slow, steady death of the middle class U.S. consumer.  Median household income has declined for five years in a row, but all of our bills just keep going up.  That means that the amount of disposable income that average Americans have continues to shrink, and that is really bad news for retailers.

And sadly, this is just the beginning.  Retail experts are projecting that the pace of store closings will actually accelerate over the course of the next decade.

So as you read this list below, please take note that things will soon get even worse.

The following are 20 facts about the great U.S. retail apocalypse that will blow your mind…

#1 As you read this article, approximately a billion square feet of retail space is sitting vacant in the United States.

#2 Last week, Radio Shack announced that it was going to close more than a thousand stores.

#3 Last week, Staples announced that it was going to close 225 stores.

#4 Same-store sales at Office Depot have declined for 13 quarters in a row.

#5 J.C. Penney has been dying for years, and it recently announced plans to close33 more stores.

#6 J.C. Penney lost 586 million dollars during the second quarter of 2013 alone.

#7 Sears has closed about 300 stores since 2010, and CNN is reporting that Sears is “expected to shutter another 500 Sears and Kmart locations soon”.

#8 Overall, sales numbers have declined at Sears for 27 quarters in a row.

#9 Target has announced that it is going to eliminate 475 jobs and not fill 700 positions that are currently empty.

#10 It is being projected that Aéropostale will close about 175 stores over the next couple of years.

#11 Macy’s has announced that it is going to be closing five stores and eliminating 2,500 jobs.

#12 The Children’s Place has announced that it will be closing down 125 of its “weakest” stores by 2016.

#13 Best Buy recently shut down about 50 stores up in Canada.

#14 Video rental giant Blockbuster has completely shut down all of their stores.

#15 It is being projected that sales at U.S. supermarkets will decline by 1.7 percent this year even as the overall population continues to grow.

#16 McDonald’s has reported that sales at established U.S. locations were down 3.3 percent in January.

#17 A home appliance chain known as “American TV” in the Midwest is going to be shutting down all 11 stores.

#18 Even Wal-Mart is struggling right now.  Just check out what one very prominent Wal-Mart executive recently admitted

David Cheesewright, CEO of Walmart International was speaking at the same presentation, and he pointed out that Walmart would try to protect its market share in the US – where the company had just issued an earnings warning. But most of the growth would have to come from its units outside the US. I mean, via these share buybacks?

Alas, outside the US too, economies were limping along at best, and consumers were struggling and the operating environment was tough. “We’re seeing economies under stress pretty much everywhere we operate,” Cheesewright admitted.

#19 In a recent CNBC article entitled “Time to close Wal-Mart stores? Analysts think so“, it was recommended that Wal-Mart should close approximately 100 “underperforming” supercenters in rural locations across America.

#20 Retail consultant Howard Davidowitz is projecting that up to half of all shopping malls in America may shut down within the next 15 to 20 years

Within 15 to 20 years, retail consultant Howard Davidowitz expects as many as half of America’s shopping malls to fail. He predicts that only upscale shopping centers with anchors like Saks Fifth Avenue and Neiman Marcus will survive.

So is there any hope that things will turn around?

Well, if the U.S. economy started producing large numbers of good paying middle class jobs there would definitely be cause for optimism.

Unfortunately, that is just not happening.

On Friday, we were told that the U.S. economy added 175,000 jobs during the month of February.

That sounds pretty good until you realize that it takes almost that many jobs each month just to keep up with population growth.

And according to CNS News, the number of unemployed Americans actually grew faster than the number of employed Americans in February…

The number of unemployed individuals 16 years and over increased by223,000 in February, according to the Bureau of Labor Statistics (BLS).

In February, there were 10,459,000 unemployed individuals age 16 and over, which was up 223,000 from January, when there were 10,236,000 unemployed individuals.

Meanwhile, the labor force participation rate continues to sit at a 35 year low, and a staggering 70 percent of all Americans not in the labor force are below the age of 55.

That is outrageous.

And things look particularly depressing when you look at the labor force participation rate for men by themselves.

In 1950, the labor force participation rate for men was sitting at about 87 percent.  Today, it has dropped beneath 70 percent to a brand new all-time record low.

The truth is that there simply are not enough jobs for everyone anymore.

The chart posted below shows how the percentage of working age Americans that actually have a job has changed since the turn of the millennium.  As you can see, the employment-population ratio declined precipitously during the last recession, and it has stayed below 59 percent since late 2009…

Employment Population Ratio 2014

If we were going to have a “recovery”, we should have had one by now.

Since there are not enough jobs, what is happening is that more highly educated workers are taking the jobs that were once occupied by less educated workers and bumping them out of the labor force entirely.  The following is an excerpt from a recent Bloomberg article

Recent college graduates are ending up in more low-wage and part-time positions as it’s become harder to find education-level appropriate jobs, according to a January study by the Federal Reserve Bank of New York.

The share of Americans ages 22 to 27 with at least a bachelor’s degree in jobs that don’t require that level of education was 44 percent in 2012, up from 34 percent in 2001, the study found.

Due to the fact that there are not enough middle class jobs to go around, the middle class has been steadily shrinking.

In 2008, 53 percent of all Americans considered themselves to be “middle class”.  Today, only 44 percent of all Americans consider themselves to be “middle class”.

That is a pretty significant shift in just six years, don’t you think?

For much more on this, please see my previous article entitled “28 Signs That The Middle Class Is Heading Toward Extinction“.

Despite what the politicians and the mainstream media are telling you, the truth is that something is fundamentally wrong with our economy.

On a gut level, most people realize this.

According to one recent survey, only 35 percent of all Americans say that they are better off financially than they were a year ago.  And according to a recent NBC News/Wall Street Journal poll, only 28 percent of all Americans believe that this country is moving in the right direction.

The frightening thing is that this is about as good as things are going to get.  The next great wave of the economic collapse is approaching, and when it strikes the plight of the middle class is going to get a whole lot worse.

Chase Bank And Other Banks Think Your Money Is Their Money?

Source: SOMICOM – Why is Chase Bank banning wire transfers and limiting cash withdrawals for business customers?

Is the bank preparing for some kind of financial crisis or Cyprus-style account gouging?

(Select HD and full screen to read letters).

FULL STORY: http://www.infowars.com/chase-bank-li…

Chase Bank confirmed to Infowars that all business account holders were being subjected to these new regulations. They indicated that customers would have to pay a fee on every dollar withdrawn over the limit. Given that even a relatively small grocery store or restaurant is likely to turnover more than $50k a month in cash payments, this appears to be part of a wider move to shut down businesses who mainly deal in cash. Chase told us customers would have to upgrade to much more expensive accounts to avoid the capital controls, meaning larger corporations will not be affected. The bottom line is that banks think your money is their money and will do everything in their power to prevent you from withdrawing it in large quantities.

Tags: Chase Bank limiting cash withdrawals, Cyprus, Banksters, business, news

Preparing For The Coming Economic Depression, How Bad Will It Get?

Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It

By Michael Snyder, on August 18th, 2013

The next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it. Even though the warning signs are glaringly obvious, most Americans continue to believe that our “leaders” know what they are doing and that everything will be just fine. But what will happen when the next great financial crash happens and trillions of dollars of “paper wealth” disappear into thin air? What will happen when the coming credit crunch causes economic activity to dramatically slow down and millions upon millions of people lose their jobs? This shouldn’t sound far-fetched to you. Remember, this is exactly the kind of thing that we saw back in 2008, and the next great financial crisis is likely going to be significantly worse. Our economy is in far worse shape than it was back in 2008, and government dependence is now at an all-time high even though most Americans are still enjoying debt-fueled false prosperity. We are living in the largest debt bubble in the history of the planet, and when it bursts we are going to experience a crippling “adjustment” to our standard of loving. Some people understand this and are busy preparing for what is ahead. It has been estimated that there are approximately 3 million “preppers” in the United States, and that number is growing all the time. Unfortunately, most Americans are not preparing for the coming economic depression and they are going to bitterly regret it.

So what does preparing for the coming economic depression look like?

Well, it doesn’t have to be complicated. Most of the things that you should do are just common sense.


But there are some people that take things to extremes. For example, a new National Geographic series is featuring a family that is actually constructing a “Doomsday Castle“. The former U.S. Army officer that is building this unusual home is trying to prepare for virtually every type of disaster that he can imagine

Meet Brent Sr., the leader of the six-person family. Brent is a former Army Infantry Training Officer who is heading up the project to build an “EMP (electromagnetic pulse)-proof medieval castle in the woods of the Carolinas.”

According to National Geographic, Brent is teaching five of his 10 children survival skills.

The unfinished, fortified castle that Brent Sr. is building — an idea he got during the Y2K prep craze — will be able to sustain an EMP-event that could wipe out a power grid, but will also survive natural disasters like hurricanes.

He even plans to train his family members to use crossbows and a catapult to defend against potential home invaders.

Not many people out there are going to take “prepping” to such extremes.

But even if you don’t plan to build a “Doomsday Castle”, that doesn’t mean that you should be doing nothing.

Sadly, most Americans are quite ill-prepared for a major economic downturn at this point. In fact, most Americans seem to be doing almost nothing to prepare.

Just consider the following statistics. Most of these numbers come from one of my previous articles

-According to a survey that was recently released, 76 percent of all Americans are living paycheck to paycheck.

46 percent of all Americans have less than $800 in savings.

27 percent of all Americans do not have even a single penny saved up.

-Less than one out of every four Americans has enough money stored away to cover six months of expenses.

-Each year, 12 million Americans take out high interest payday loans.

-In 1989, the debt to income ratio of the average American family was about 58 percent. Today it is up to 154 percent.

-It is estimated that less than 10 percent of the U.S. population owns any gold or silver for investment purposes.

44 percent of all Americans do not have first-aid kits in their homes.

48 percent of all Americans do not have any emergency supplies stored up.

53 percent of all Americans do not have a 3 day supply of nonperishable food and water in their homes.

One survey asked Americans how long they thought they would survive if the electrical grid went down for an extended period of time. Incredibly, 21 percent said that they would survive for less than a week, an additional 28 percent said that they would survive for less than two weeks, and nearly 75 percent said that they would be dead before the two month mark.

Those numbers are absolutely appalling.

When the system fails, most people are going to be completely blindsided by it and millions upon millions of people are going to absolutely freak out.

Don’t let that happen to you.

So what are some basic things that you can do to get prepared for the great economic storm that is coming?

The following are a few of the things that Nicole Foss suggests…

1) Hold no debt (for most people this means renting)

2) Hold cash and cash equivalents (short term treasuries) under your own control

3) Don’t trust the banking system, deposit insurance or no deposit insurance

4) Sell equities, real estate, most bonds, commodities, collectibles (or short if you can afford to gamble)

5) Gain some control over the necessities of your own existence if you can afford it

6) Be prepared to work with others as that will give you far greater scope for resilience and security

7) If you have done all that and still have spare resources, consider precious metals as an insurance policy

8) Be worth more to your employer than he is paying you

9) Look after your health!

I think all of those are great pieces of advice.

In addition, below I have posted some of the things that I personally recommend. The following is an excerpt from one of my previous articles entitled “25 Things That You Should Do To Get Prepared For The Coming Economic Collapse“…

#1 An Emergency Fund

Do you remember what happened when the financial system almost collapsed back in 2008? Millions of Americans suddenly lost their jobs, and because many of them were living paycheck to paycheck, many of them also got behind on their mortgages and lost their homes. You don’t want to lose everything that you have worked for during this next major economic downturn. It is imperative that you have an emergency fund. It should be enough to cover all of your expenses for at least six months, but I would encourage you to have an emergency fund that is even larger than that.

#2 Don’t Put All Of Your Eggs Into One Basket

If the wealth confiscation in Cyprus has taught us anything, it is that we should not put all of our eggs in one basket. If all of your money is in one single bank account, it would be easy to wipe out. But if you have your money scattered around a number of different places it will give you a little bit more security.

#3 Keep Some Cash At Home

This goes along with the previous point. While it is not wise to keep all of your money at home, you do want to keep some cash on hand. If there is an extended bank holiday or if a giant burst from the sun causes the ATM machines to go down, you want to be able to have enough cash to buy the things that your family needs. Just ask the people of Cyprus how crippling a bank holiday can be. One way to keep your cash secure at home is by storing it in a concealed safe.

#4 Get Out Of Debt

A lot of people seem to assume that an economic collapse would wipe out all debts, but that will probably not be the case. In fact, if you are in a tremendous amount of debt you will be very vulnerable if the economy collapses and you are not able to find a job. Just ask the people who were overextended and lost their jobs during the last recession. So please get out of debt. Many debt collectors are becoming increasingly ruthless. In many areas of the country they are now routinely putting debtors into prison. You do not want to be a slave to debt when the next wave of the economic collapse strikes.

#5 Gold And Silver

In the long-term, the U.S. dollar is going to lose a tremendous amount of value and inflation is going to absolutely skyrocket. That is one reason why so many people are investing very heavily in gold, silver and other precious metals. All over the globe, the central banks of the world are recklessly printing money. Everyone knows that this is going to end very badly. In fact, there is already a push in more than a dozen U.S. states to allow gold and silver coins to be used as legal tender. Someday you will be glad that you invested in gold and silver now while their prices were still low.

#6 Reduce Your Expenses

A lot of people claim that they can’t put any money toward prepping, but the truth is that we all have room to reduce our expenses. We all spend money on things that we do not really need. Those that are “lean and mean” will tend to do much better during the times that are coming.

#7 Start A Side Business

If you do not have much money, a great way to increase your income is by starting a side business. And it does not take a lot of money – there are many side businesses that you can start for next to nothing. And starting a side business will allow you to become less dependent on your job. In this economic environment, a job could disappear at literally any time.

#8 Move Away From The Big Cities If Possible

For many people, this is simply not possible. Many Americans are still completely and totally dependent on their jobs. But if you are able, now is a good time to move away from the big cities. When the next major economic downturn strikes, there will be rioting and a dramatic rise in crime in the major cities. If you are able to move to a more rural area you will probably be in much better shape.

#9 Store Food

Global food reserves have reached their lowest level in nearly 40 years. As the economy gets even worse and global weather patterns become even more unstable, the price of food will go much higher and global food supplies will become much tighter. In the long run, you will be glad for the money that you put into long-term food storage now.

#10 Learn To Grow Your Own Food

This is a skill that most Americans possessed in the past, but that most Americans today have forgotten. Growing your own food is a way to become more independent of the system, and it is a way to get prepared for what is ahead.

#11 Nobody Can Survive Without Water

Without water, you would not even make it a few days in an emergency situation. It is imperative that you have a plan to provide clean drinking water for your family when disaster strikes.

#12 Have A Plan For When The Grid Goes Down

What would you do if the grid went down and you suddenly did not have power for an extended period of time? Anyone that has spent more than a few hours without power knows how frustrating this can be. You need to have a plan for how you are going to provide power to your home that is independent of the power company.

#13 Have Blankets And Warm Clothing On Hand

This is more for emergency situations or for a complete meltdown of society. During any major crisis, blankets and warm clothing are in great demand. They also could potentially make great barter items.

#14 Store Personal Hygiene Supplies

A lot of preppers store up huge amounts of food, but they forget all about personal hygiene supplies. During a long crisis, these are items that you would greatly miss if you do not have them stored up. These types of supplies would also be great for barter.

#15 Store Medicine And Medical Supplies

You will also want to store up medical supplies and any medicine that you may need. In an emergency situation, you definitely would not want to be without bandages and a first-aid kit. Over the course of a long crisis, you do not want to run out of any medicines that are critical for your health.

#16 Stock Up On Vitamins

A lot of preppers do not think about this either, but it is very important. These days, it is becoming increasingly difficult to get adequate nutrition from the foods that we eat. That is why it is very important to have an adequate store of vitamins and other supplements.

#17 Make A List Of Other Supplies That You Will Need

During any crisis, there will be a lot of other things that you will need in addition to food and water. The following are just a few basic things that it would be wise to have on hand…

– an axe

– a can opener

– flashlights

– battery-powered radio

– extra batteries

– lighters or matches

– fire extinguisher

– sewing kit

– tools

This list could be much, much longer, but hopefully this will get you started.

#18 Don’t Forget The Special Needs Of Your Babies And Your Pets

Young children and pets have special needs. As you store supplies, don’t forget about the things that they will need as well.

#19 Entertainment

This may sound trivial, but the truth is that our entertainment-addicted society would become very bored and very frustrated if the grid suddenly went down for an extended period of time. Card games and other basic forms of entertainment can make enduring a crisis much easier.

#20 Self-Defense

In the years ahead, being able to defend your home and your family is going to become increasingly important. When the economy crashes, people are going to start to become very desperate. And desperate people do desperate things.

#21 Get Your Ammunition While You Still Can

Your firearms will not do you much good if you do not have ammunition for them. Already there are widespread reports of huge ammunition shortages. The following is from a recent CNS News article

“The run on ammunition has manufacturers scrambling to accommodate demand and reassure customers, as many new and seasoned gun owners stock up over fears of new firearms regulations at both the state and federal levels.”

Don’t just assume that you will always be able to purchase large amounts of ammunition whenever you want. Get it now while you still can.

#22 If You Have To Go…

Have a plan for what you and your family will do if you are forced to leave your home. If you do have to go, the following are some items that you will want to have on hand…

– a map of the area

– a compass

– backpacks for every member of the family

– sleeping bags

– warm clothing

– comfortable shoes or hiking boots

#23 Community

One of the most important assets in any crisis situation is community. If you have friends or neighbors that you can depend upon, that is invaluable. The time spent building those bonds now will pay off greatly during a major crisis.

#24 Have A Back-Up Plan And Be Flexible

Mike Tyson once said the following…

“Everyone has a plan until they get punched in the mouth.”

No plan ever unfolds perfectly. When your plan is disrupted, what will you do?

It will be imperative for all of us to have a back-up plan and to be flexible during the years ahead.

#25 Keep Your Prepping To Yourself

Do not go around and tell everyone in the area where you live about your prepping. If you do, then you may find yourself overwhelmed with “visitors” when everything falls apart.

And please do not go on television and brag about your prepping to a national audience.

Prepping is something that you want to keep to yourself, unless you want hordes of desperate people banging on your door in the future.

*****

For much more on prepping, I would encourage you to check out the dozens of excellent websites out there that teach people advanced prepping techniques for free.

So what do you think about all of this?

Are you getting prepared for the coming economic depression?

Please feel free to share your perspective on prepping by posting a comment below…
Call Now: 888-654-2797

Tags: business, financial, money, economic crisis, preppers, Doomsday Preppers, news

GE, Pfizer, Microsoft, Apple And Other Major US Corporations Are Parking More Cash Abroad To Avoid Paying Taxes

GE, Pfizer, Microsoft, Apple And Other Major US Corporations Are Parking More Cash Abroad To Avoid Paying Taxes. U.S.-based nonfinancial companies are parking record amounts of cash abroad, thanks largely to a tax code that encourages them to indefinitely keep profits from their foreign subsidiaries outside of the country.
Some of the largest companies in the U.S. greatly boosted their tax-avoiding cash stockpiles abroad last year, according to recent surveys of company filings from the Securities and Exchange Commission.

For example, the Jedi master of avoiding U.S. taxation, General Electric Company (NYSE:GE), increased its tax-free cash accumulation to $108 billion, up from an estimated $94 billion in 2010. Microsoft Corporation (Nasdaq:MSFT) increased its stockpile to $61 billion, up 36 percent from 2011 and up from $30 billion in 2010. Apple Inc. (Nasdaq:AAPL) raised its ante to $40 billion, up 73 percent from 2011.

Sixty of the country’s largest nonfinancial corporations kept $166 billion in cash outside of the U.S. last year, shielding more than 40 percent of their profits from taxes, according to a report in Monday’s Wall Street Journal. And that’s from total overseas earnings of $1.3 trillion, up 15 percent from 2011.

A separate analysis of 83 of the largest nonfinancial corporations found that companies increased by $183 billion their foreign-based cash accumulations, representing a 14.4 percent rise from 2011, according to Bloomberg. Microsoft, Apple and Google Inc. (Nasdaq:GOOG) together hold $134.5 billion in cash abroad.

“The corporate system is broken and it’s broken primarily because of international,” Edward Kleinbard, a tax law professor at the University of Southern California, told Bloomberg.

The Journal’s survey said the propensity to keep profits outside of the U.S. was most prevalent among tech and healthcare companies; the 26 of them on the list of 60 kept $120 billion abroad last year.

In the first quarter of 2012, the Federal Reserve estimated in its Flow of Funds report that U.S. nonfinancial companies held $1.7 trillion in liquid assets (cash) in the first quarter of last year, but that figure only accounts for U.S.-based assets. According to the IRS figures, the total amount of liquid assets in the first half of last year was much higher: $5.1 trillion. That means for every dollar a U.S. nonfinancial company held inside the U.S., it held three dollars abroad.

According to Pulitzer Prize-winning financial journalist and author David Cay Johnston, the reasons for hoarding cash abroad are threefold: Profits held overseas aren’t taxed if they’re owned by offshore subsidiaries; companies have had no incentive to invest these proceeds due to lackluster growth in jobs and wages that suppress demand for goods and services; and mountains of cash held in offshore accounts provides a nice cushion if the economy gets worse.

Tags: GE, Pfizer, Microsoft, Apple, Cash Abroad, Avoid Paying Taxes, news, business

Opinion: Home Loan Modification Scam? The Horror Continues – Bank Of America Wants You To Die?

http://BankingBad.com — Bank of America Loan Modification… The horror continues! Bank of America claimed to “need” a Death Certificate of a living borrower to complete his loan modification. Watch Banking Bad, episode 2 to see what happens next in this loan mod nightmare.” Subscribe at http://www.youtube.com/user/BankingBad to stay updated on future episodes and further bank antics. Please click the YouTube like button and share to help put an end to big bank customer abuse.


You can visit us at:
https://www.facebook.com/BankingBad
https://twitter.com/BankingBad

This is the second installment of a TV Series chronicling the true stories of homeowners and their journeys as many of them become reluctant warriors in battles with some of America’s largest banks.

Banking Bad Episode 1 –  chronicles – the story of “Dee”, who was seeking a simple home loan modification with Bank of America. A seemingly simple financial transaction that became increasingly more complicated as “Dee” was caught in the document maze laid out by the bank. In this episode we learned that the bank sent two separate letters saying, “they need” a “Death Certificate” as one of their requirements to process his loan modification… and it just gets worse.

Banking Bad Episode 2 – Goes even deeper than part 1 to expose the “bigger picture.” Through broadcasting his story onto social media, “Dee” becomes a major contributor to a growing network of consumers banning together to stop bad behavior from big banks. Join us as we uncover the truly diabolical nature of those who practice the dark art of banking.

Director: De Veau Dunn http://www.imdb.com/name/nm1538930/
Writers: De Veau Dunn, Nicholas George http://www.imdb.com/name/nm2086043/
Actors: Mark Serritella as “Dee”, http://www.imdb.com/name/nm2073494/
Nicholas George as “Undertaker”, Paula Ramirez as “Undertaker’s Assistant”, Steve Triebernig as Himself, Daniel Deuprey as “Banker on Phone”, and Ute Werner as “Bank Ex-Customer.”
Cinematographer: Chauncey Donovan – Sound: Flick Smith – Make-up: Dezi V – Still Photography — Leonard Bruno -Editing — De Veau Dunn. Tags: “Banking Bad”, Bank of America wants you to die, Business, Home Loan Modification Scam, news, Scam