Can you name just on thing that Obama has done to help the middle class or American businesses?
There are 11 companies in the broad Russell 3000 index, including a plethora of energy companies like Apache, General Electric (GE) and Internet giant, Yahoo, that have reported catastrophic net losses in the just completed calendar year, according to a USA TODAY analysis of data from S&P Global Market Intelligence. And if we think this collapse is going to have distinct boundaries on who, and who is not impacted, think again. GE owns ABC which in turn owns the ESPN’s… and on and on it goes. These ripples are quickly turning into tidal waves.
The news is so bad that the retail sector is looking for silver linings where it can find them:
Every single on of these corporations reported net losses of $4 billion in 2015. By comparison, Sears is looking like a winner because they only lost $1 billion
And this is supposed to be the good news?
The Backbone of American Retailers Are Taking a Beating
I watched in absolute horror as Fox News reported that Kohl, the darling of the retail outlets, was closing 18 stores this year. Kohls is one of the poster children for American economic, post-2008 recovery and they are losing their backside.
In a very impressive compilation of economic data, Michael Snyder assembled data on the following retailers and the message is uniform and disheartening:
“Target has just finished closing 13 stores in the United States.
Best Buy closed 30 stores last year, and it says that more store closings are likely in the months to come.
Office Depot plans to close a total of 400 stores by the end of 2016.
Wal-Mart is closing 269 stores, including 154 inside the United States…”
“K-Mart is closing down more than two dozen stores over the next several months.
J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.
Macy’s has decided that it needs to shutter 36 stores…
The Gap is in the process of closing 175 stores in North America.
Aeropostale is in the process of closing 84 stores all across America…”
This is only a cross-sectional view of the economy. Consider what CNN/Money is saying:
“Investors yanked $2.9 billion from U.S. stocks last week, marking the seventh week of outflows out of the past eight, according to Bank of America Merrill Lynch. Emerging markets, which have been in turmoil for months, experienced a 13th straight week of outflows of $1.2 billion.
Money is fleeing to safe haven government bonds. For instance, municipal bonds have enjoyed 19 straight weeks of inflows, BofA said”.
In other words, investors are taking their money away from the actual corporations that need the economic support through the Stock Market, and are giving the money to government savings accounts that are actually managed by Obama’s minions. Talk about jumping from the fire into the frying pan.
There is no escaping this carnage. The only option to at least slow down this train wreck, is to start a war. And this is precisely what we are witnessing with the phony peace talks regarding Syria. In a future article, I will expose the Kerry/Obama agenda with regard to the coming fake cease fire which will nothing but a thinly veiled effort to try to get Russia to lower its guard before their forces are attacked.
The only option left for the average American is adaptation. The deck chairs of the Titanic are being rearranged. Will you reach the lifeboats? What do you need to do to survive the present economic holocaust? This topic is subject for another day. Suffice it to say that every America should store two years of food for each family member, convert their soon to be worthless cash to gold and silver, horde medicines, obtain and learn how to use guns for the purpose of self-defense, form alliances with neighbors and keep a copy of the Bible nearby.