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I think your post is very close to what's going on. I vividly remember the revolution back in the 90’s. Technology was exploding. New, faster computers, new gadgets called iPods, cell phones were just getting started, video game consoles were taking off, and on and on.

Think about it. In the last decade there has been an absolute dearth of development, just teeny incremental changes. No real explosive idea.

It seems like since 9/11 we've focused on war and the economy and society has either just maintained or declined.

Enter Obama.

Since 2008 Obama has gone out of his way to diminish America, both domestically and abroad. He has been fantastically successful.

We now have trillions in added debt with record amounts of people subsisting on government payouts. Real employment is about 12% with millions out of the workforce and on the government dole. Inflation, while yet tame, is real. Gas prices have now risen nearly $0.50 per gallon in the last two weeks alone. Taxes were just increased on all Americans in January. Wages are declining. Middle class Americans are struggling mightily to make ends meet.

Amidst this background there ARE going to be shake outs as you mention. There is nothing new being created at the retail level. Middle class consumers are shrinking and those left are strapped. Those on the government dole make their monthly trek to WalMart for staples.

What I find amazing is that it's just JC Penney that is struggling. I think the dam will break in the not so distant future and we will see a lot of businesses, unfortunately, going bust.

Ditto to both of your posts. As the middle class gets squeezed, the stores that cater to them (JCP, Sears, pretty much any mall, etc) will go smash. Maybe a few will be left after the shakeout, that's all.

Speaking for myself, I'm (currently) entrenched solidly in the middle class. If you had told me 20 years ago what my salary would be today, I'd have replied, "Well, probably. I have a college degree, I'm a hard worker, etc etc etc".

However, if you had told me 20 years ago what my salary would be today AND that I'd be clipping coupons, skipping vacations and cutting every corner that I can find just to stay afloat..... I'd have said that you were crazy.