WEB Notes: In part, this is what Jack Ma was talking about and on another level this is the effect of 94 million Americans not being a part of the labor force. Since 2008 nothing has improved. The banks have been propped up by artificially low interest rates and those banks lend money to you at artificially low rates. When the Federal Reserve cranks back up the rates many will no longer be able to afford what they purchased on credit and that is going to be a bad day for the world, but a planned one by Satan’s children. But hey, those not so “official” unemployment numbers improved so I guess this news does not matter…
Brokerage firm Credit Suisse said in a research report released earlier this month that it’s possible more than 8,600 brick-and-mortar stores will close their doors in 2017.
For comparison, the report says 2,056 stores closed down in 2016 and 5,077 were shuttered in 2015. The worst year on record is 2008, when 6,163 stores shut down.
“Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008,” the report says.
Source: More Retail Stores Are Closing Than at the Height of the Great Recession: Report | KTLA