American Retail Stores Closing At
Record Rate
April 10. 2017
Former U.S. President George W. Bush
American retail stores are closing at a
record pace. The problems began under the administration of
former president George W. Bush. It continued throughout the
administration of former president Barack Obama. The 2008 financial crisis damaged many American's
finances via gouging the middle class and poor, which I
predicted first in online articles (How George Bush Destroyed
The U.S. Economy). The redistribution of wealth in America,
as over seen by Bush then Obama, saw the
rich become super rich and the middle class and lower income
individuals become poorer (Obama Economy Worst On Record Since The Great Depression).
The government should not have permitted this to happen, as
it initiated America's decline.
Former U.S. President Barack Obama
As a result, Americans do not have the
disposable income they once did and have been sticking to buying
the essentials. The cost of living in America has
significantly risen over
the past 12-years. The cost of renting, owning a home and
buying food has sharply increased. For the average person in
America, it is now more difficult to make ends meet. To the
greedy corporations/entities such as Halliburton,
Countrywide and Hollywood, among others, whose conduct
triggered the financial decline of America, greed comes at a
high price.
STORY SOURCE
America’s Retailers Are Closing Stores Faster Than
Ever
April 7, 2017, 6:00 AM EDT April 7, 2017,
10:11 AM EDT - The battered American retail industry took a
few more lumps this week, with stores at both ends of the
price spectrum preparing to close their doors. At the
bottom, the seemingly ubiquitous Payless Inc. shoe chain
filed for bankruptcy and announced plans to shutter hundreds
of locations. Ralph Lauren Corp., meanwhile, said it will
close its flagship Fifth Avenue Polo store -- a symbol of
old-fashioned luxury that no longer resonates with today’s
shoppers.
And the teen-apparel retailer Rue21 Inc.
could be the next casualty. The chain, which has about 1,000
stores, is preparing to file for bankruptcy as soon as this
month, according to people familiar with the situation. Just
a few years ago, it was sold to private equity firm Apax
Partners for about a billion dollars. “It’s an industry
that’s still in search for answers,” said Noel Hebert, an
analyst at Bloomberg Intelligence. “I don’t know how many
malls can reinvent themselves.”...
https://www.bloomberg.com
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