Retail Apocalypse: “The Retail Bubble Has Now Burst”: A Record 8,640 Stores Are Closing In 2017

Yep, because real per capita income adjusted for inflation has not grown since 1973. This is the verdict of statistician guru John Williams at ShadowStats.com, and I would concur. Effective demand, the wherewithal to buy goods and services, is simply not there, and this results from the offshoring of jobs that has produced the greatest inequality since the ’29 collapse. If I had to wager, the 1929 crash will at some point be duplicated today, as we continue to see the rise of real estate values, in this case commercial real estate, while discretionary income contracts. Citing nominal wages is a sham by the Zionist Fourth Estate. Again the good ol’ greenback dollar retains only about 2 cents of its value since the Federal Reserve came into existence in 1913. The debasement of the currency picked up after Nixon closed the gold window in 1971, and real wages have been going south ever since. Americans chose war and security over prosperity and civil rights. The result was a permanent war economy as much for domestic reasons as for foreign relations. Robert Brenner, an economic historian, makes the case that the ruling elite had to rebuild profit margins, and lowering labor costs were the main mechanism of doing so. Of course, trumpeted by the Zionist Fourth Estate as an unadulterated good. And yes, the ploy worked by doing an end-run around the trade union movement via Mexico, China, and other Asian locales. Like 19th and early 20th century Britain, the U.S. exported capital leaving workers behind. Yes, the corporatists embraced globalism for this very reason. The greatest growth in domestic jobs being waiters, bus boys, and bartenders, as the globalists hollowed out manufacturing. Just between you and me, such jobs don’t cut it when it comes to maintaining real per capita income. Hence, debt or credit becomes the logical means of sustaining effective demand. It’s a house of cards folks. In the slightest wind of bankruptcies, like the closing of 8,640 retail stores, the cards could come tumbling down.

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