You Are Here: Home » News » Economic Collapse (Page 3)

Collapse of retail keeps on coming with more store closures and another retail chain bankruptcy

Just a month after Sears CEO Eddie Lampert gave an extremely animated Earnings Call in which one shareholder asked him if he was 'paranoid' and 'delusional' about his belief that the long-standing retailer would soon turn things around, the once primary anchor store of nearly every mall in America is closing down 66 more stores in what has been a hemorrhage of locations over the past several years. Less tha ...

Read more

Seattle continues to prove their goal is to drive businesses completely out

There is a nearly flawless truth when it comes to liberal government policies... they have absolutely no idea how money and finance works.  And whether it is the implementation of Obamacare at the Federal level, which has in just a few short years destroyed affordable healthcare in America, or the implementation of higher minimum wages, which are causing restaurants and other small businesses to either have ...

Read more

Following Friday’s jobs report fail, new factory orders come in negative for first time in over a year

Following last Friday's job report in which only 138,000 were created in the month of May, another report that acts as a signal for the strength of the economy was announced on June 5 as new factory orders in the month of April declined for the first time since February of 2016. Factory orders for durable goods represent a two-fold indicator for businesses.  First, it shows how much growth in retail may act ...

Read more

Less than three weeks after Rue 21 files for Bankruptcy, Gymboree prepares to do the same

America is seeing the death of retail accelerate before their eyes as the second fringe clothing retailer in less than three weeks prepares to file for bankruptcy protection following their defaulting on an interest payment. Gymboree is a retail chain that currently operates 630 Gymboree Retail, 150 Gymboree Outlet, 130 Janie & Jack, and 290 Crazy 8 stores in the US.  And it has already been through a f ...

Read more

New jobs severely decline in May despite fake unemployment rate dropping to 4.3%

On Friday June 2 the Bureau of Labor Statistics issued its latest jobs report for the month of May, only to see the number of new jobs grow by even less than the lowest analyst estimate.  And then to add humor to the equation, this same government agency reported a decline in the unemployment rate thanks to slicing off 608,000 Americans they deemed no longer worthy to be counted in the labor pool. As previe ...

Read more

Ratings agencies downgrade the State of Illinois to virtual junk

In a place where they have the largest migration of people leaving the state, and are near the top of the list for financial insolvency in the country, on June 1 the ratings agencies of Moody's and S&P downgraded Illinois' credit rating to just one step above junk. Ever since the 2008 financial crisis the state of Illinois has seen its budget deficits go up, its crime rates skyrocket, its taxes increase ...

Read more

Congratulations! Ratings agencies give tapped out consumers a boost to borrow more money to buy thin

It has been nine years since the crash of the last housing bubble, and the advent of millions of Americans experiencing foreclosures which crushed their credit scores below the levels in which they could borrow money at a decent rate.  And since these dings on one's credit score, along with those who also may have experienced their own hits from defaulting on miscellaneous consumer credit vehicles such as c ...

Read more

Dollar stores usurp Walmart’s place as the bellweather of retail

For years Wall Street used Walmart as the bellweather company to determine how well retail growth was doing in the U.S. economy.  But with even Walmart now closing store locations and having declines in year over year store revenues, the moniker of bellweather may be passing on to another segment of retail. And those are the myriad of dollar stores which in 2017 are now making up 80% of all new store openin ...

Read more

FDIC closes down sixth bank of 2017 in the state of Illinois

On May 26, the FDIC closed down their sixth bank for 2017 as Fayette County Bank shuttered its doors.  This institution is the second bank failure for the month of May, and the second Illinois based bank closure this year. 5/26/2017 *** Illinois *** Saint Elmo *** Feyette County Bank *** $1o million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $10 million. If you were banking ...

Read more

Congress fights Trump’s budget proposal as welfare programs reach record levels of applicants

Earlier this week, the Trump administration rolled out the President's next fiscal year budget proposal which on the surface seeks to cut $1.7 trillion from expenditures over the next 10 years. But as most Americans know from years of experience, Congress doesn't have the stomach to cut anything once they have promised it as an entitlement to the majority of the people.  And it is no different today with th ...

Read more

Housing bubble 2.0? New and existing home sales drop at same time prices reach record highs

Since the only thing the Federal Reserve knows how to do is print money and create asset bubbles, it should come as no surprise that nine years after the bursting of the last housing bubble, the economy has achieved success in the creation of another one.  And as data comes out for the month of April showing slumping sales in both new and existing homes, the contradiction to the this data is in the fact tha ...

Read more

President Trump proposes budget that will force Congress to show Americans their fiscal irresponsibility

On May 22 early reports came out on President Trump's first budget proposal that is expected to not only be rejected by both parties in Congress, but reveal to the American people how the legislative branch has no intention of ever cutting spending. In details leaked out from Trump's budget proposal, the President is seeking to cut $1.7 trillion from entitlement programs over the next several years, with a ...

Read more

© 2012 Secrets of the Fed