Posted on 06/03/2017 4:46:23 AM PDT by blam
Since the election there has been this perception among the American public that the economy is improving, but that has not been the case at all. U.S. GDP growth for the first quarter was just revised up to 1.2 percent, but that is even lower than the average growth of just 1.33 percent that we saw over the previous ten years. But when you look even deeper into the numbers a much more alarming picture emerges. Commercial and industrial loan growth is declining, auto loan defaults are rising, bankruptcies are absolutely surging and we are on pace to break the all-time record for most store closings in a single year in the United States by more than 20 percent. All of these are points that I have covered before, but today I have 12 new facts to share with you. The following are 12 signs that the economic slowdown that the experts have been warning about is now here…
#1 According to Challenger, the number of job cuts in May was 71 percent higher than it was in May 2016.
#2 We just witnessed the third worst drop in U.S. construction spending in the last six years.
#3 U.S. manufacturing PMI fell to an 8 month low in May.
#4 Financial stocks have lost all of their gains for the year, and some analysts are saying that this is “a terrible sign”.
#5 One new survey has found that 39 percent of all millionaires “plan to avoid investing in the coming month”. That is the highest that figure has been since December 2013.
#6 Jobless claims just shot up to a five week high of 248,000.
(snip)
(Excerpt) Read more at theeconomiccollapseblog.com ...
“destruction of brick and mortar”
I think it is more than high cost of labor with Obamacare mandates and the refusal of retail landlords to make reasonable deals that factor in the higher cost of labor and its government mandated health care coverage.
Also, UPS delivery people must be in good physical shape, so their health care costs are less.
“39 percent of all millionaires ‘plan to avoid investing in the coming month’”
There comes a time in the economic cycle when the markets have been picked over so often that no good deals remain.
Maybe the millionaires can't invest any more, because they've already invested as much as they possibly could?
Regards,
I got some news for yuh! It will continue to be not affected - until, suddenly, it is.
Regards,
“..In the case I’m talking about, I had what I needed in my hands and before I knew it I had one of the owners standing next to me ready to accept payment via their iPad and a credit card reader. The entire transaction took less than 20 seconds and I was out the door....”
smart business owner. He’ll win great story thanks
Nobody wants to work those minimum wage jobs.
BlueStateRightist: While I respect your observations, GDP numbers supersede local anecdotal observations.
Quite true, BlueStateRightist! For all we know, LS might be a resident of Guam, or Martha's Vineyard.
Regards,
...whereas shoplifting in brick-and-mortar stores is on the decline?
Regards,
I go to the Lowe's one town over vs. the local Menards or Home Depot specifically for the reason above: I know walking in the door which aisle to go to and where what I'm looking for is supposed to be. Their inventory status via the web does leave something to be desired as you pointed out. There have been one or two occasions I went to Lowes only to discover what I wanted/needed was out of stock. If they could fix that, Lowe's would be golden.
I'd posted the story above on another thread in the last few weeks. We have the millenial's to thank for the revolution that's happening in the brick and mortar retail experience.
That is the ONE THING they get right, IMO. They demand good customer service and will go where ever that is and will sacrifice price for service almost every time.
I live @ 30 miles Southwest of Chicago in Will County, IL and have noticed so many of the small mom and pop retail and food service places going the mobile pay route (Apple Pay, Samsung Pay, mobile credit card readers, etc..) and virtually eliminating check-out registers. Personally I think it's a really smart move.
Brick and Mortar stores are dying for those who cannot make the transition. Big stores like Sears, JC Penny and others will cease to exist because they're too big, too stodgy and too slow to make the transition.
Wal-Mart by me is starting to make the transition, as is the local Best-Buy which directly competes with Amazon on price now. Simply show the Amazon price at the register and the cashier adjusts the price right there on the spot, no waiting, no manager, no approvals, etc..
For those paying attention to what's really going on on-line and in the brick and mortar stores it's really interesting to watch.
Apparently it is on the decline. Thanks for pointing that out.
No. Internet sales are for real. Check out the new company “shopify.” The share price is constantly going higher. SHOP is the ticker symbol. SHOP has software for new companies to sell their products on the Internet and at Amazon. SHOP is a super stock and it keeps growing.
AT Fed GDP revised upward Thurs to 4% annual.
No PHX, (4th largest city in US) but if you want GDP AT fed revised 2nd Q projection to 4.2% last week, then raised annual to 3.7%, but likely will revise THAT upward.
“AT Fed GDP revised upward Thurs to 4% annual”
I believe you’re referring to a forecast (https://www.reuters.com/article/us-usa-economy-atlantafed-idUSKBN18S5UT). But please provide a link showing that the US GDP is currently growing at 4% annual. I have done a search and can only find U.S. 2nd quarter growth at 1.2% (revised up from 0.9%): http://www.cnbc.com/2017/05/26/us-q1-2017-second-reading-gdp.html
Yep. Clothing is a biggie. So far.
Dunno. I follow Tim Anderson on Twitter, a big AT fed guy. AT revised its 2nd quarter from 3.7 to 4.2 on Thurs. On Fri, they revised it down, probably in (mistaken) reaction to Trump’s climate speech.
But AT fed has consistently missed low recently
at my company we have a small parts depart. The gal that takes the orders does so over the phone. Charming woman who our retired customers love to chat with for 10-15 minutes. She handwrites the order on a sheet of paper, at end of day the sheets are stacked in a outbox for stockroom supervisor to pick up next morning after his 9:30am break. Parts ship 3-5 days after the phone call. Usually ship UPS ground so parts arrive at customers doorstep between 15-21 days after initial phone phone call.
If customer specifically asks for a package tracking number, he gets it a day or so after part ships. gal hand types in the tracking number and then emails to customer ( after she finds hand written sheet with customer email written on it ) She hand types customer email address in her email system.
Needless to say - our parts business is down to 5% of its 2010 levels.
No one in our organization seems to fathom why, yet they all shop online.
Well, such is life. The only thing one can do is proper money management and a sound financial plan. Limit expose, mitigate risk....well and pray.
Best regards to you also.
Just saw Pence speaking and he did another great job supporting President Trump and his policies/agenda.
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