Posted on 01/19/2016 10:27:02 AM PST by RetiredArmy
Welcome To The New Normal: The Dow Crashes Another 390 Points And Wal-Mart Closes 269 Stores
Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June? The worldwide financial crisis that began in the middle of last year is starting to spin wildly out of control. On Friday, the Dow plunged another 390 points, and it is now down a total of 1,437 points since the beginning of this calendar year. Never before in U.S. history have stocks ever started a year this badly. The same thing can be said in Europe, where stocks have now officially entered bear market territory. As I discussed yesterday, the economic slowdown and financial unraveling that we are witnessing are truly global in scope. Banks are failing all over the continent, and I expect major European banks to start making some huge headlines not too long from now. And of course let us not forget about China. On Friday the Shanghai Composite declined another 3.6 percent, and overall it is now down more than 20 percent from its December high. Much of this chaos has been driven by the continuing crash of the price of oil. As I write this article, it has dipped below 30 dollars a barrel, and many of the big banks are projecting that it still has much farther to fall.
The other night, Barack Obama got up in front of the American people and proclaimed that anyone that was saying that the economy was not recovering was peddling fiction. Well, if the U.S. economy is doing so great, then why in the world has Wal-Mart decided to shut down 269 stores?
Walmart (WMT) will close 269 stores around the world in a strategic move to focus more on its supercenters and e-commerce business, the company said Friday.
The closures include 154 U.S. locations, encompassing Walmart’s entire fleet of 102 ‘Express’ format stores, its smallest stores that have been in pilot testing since 2011. Some supercenters, Sam’s Club locations and Neighborhood Markets will also close, plus 115 stores in Latin American markets. The closures were decided based on financial performance and how well the locations fit with Walmart’s broader strategy, says Greg Hitt, a company spokesman.
We have grown accustomed to other major retailers shutting down stores, but this is Wal-Mart.
Wal-Mart doesn’t retreat. For decades, Wal-Mart has been on a relentless march forward. They have been an unstoppable juggernaut that has expanded extremely aggressively and that has ruthlessly crushed the competition.
I was absolutely stunned when I saw that they were going to close down 269 stores. If you want to know if your local store is in danger, you can view the full list right here.
Overall, 10,000 Wal-Mart employees will be affected. I could understand closing down a few underperforming stores, but if the U.S. economy truly is in great shape then it wouldn’t make any sense at all to shut down hundreds of stores.
What in the name of Sam Walton is going on out there?
The truth, of course, is that the U.S. economy is in great danger. We have now entered the next great crisis, but most communities around the country never even recovered from the last one. In fact, the Wall Street Journal is reporting that a whopping 93 percent of all counties in the United States “have failed to fully recover†from the last recession:
More than six years after the economic expansion began, 93% of counties in the U.S. have failed to fully recover from the blow they suffered during the recession.
Nationwide, 214 counties, or 7% of 3,069, had recovered last year to prerecession levels on four indicators: total employment, the unemployment rate, size of the economy and home values, a study from the National Association of Counties released Tuesday found.
The next few weeks are going to be very interesting to watch. The economic fundamentals continue to deteriorate, and the financial markets are finally starting to catch up with economic reality.
As the collapse on Wall Street accelerates, we are going to increasingly see panic selling and forced liquidations. In the past, it was mostly humans that had their hands on the controls during market crashes, but today the machines are making more of the decisions than ever before. The following comes from CNBC:
The new market age is decidedly different: Rather than that seething cacophony, aggressive corrections like the current ones are directed by a faceless metronome of computer-generated orders, triggering irresistible momentum and trillions in losses.
Amid it all, market veterans are left to ponder when the script will flip and market direction will turn not by newfound optimism among traders in the pits, but rather by algorithms that generate “buy†rather than “sell†signals.
“It feels like sell program after sell program,†said Michael Cohn, chief market strategist at Atlantis Asset Management, a boutique firm in New York. “It seems to happen first thing in the morning, and then however the market transpires during the day is how they close it. If it looks like it’s coming back, they’ll take it at the end. If if looks like it’s heading lower, they’ll slam it at the end of the day.â€
Earlier today, an article authored by Michael Pento entitled“A recession worse than 2008 is coming†was posted on CNBC. Here is a short excerpt:
But a recession has occurred in the U.S. about every five years, on average, since the end of WWII; and it has been seven years since the last one — we are overdue.
Most importantly, the average market drop during the peak to trough of the last 6 recessions has been 37 percent. That would take the S&P 500 down to 1,300; if this next recession were to be just of the average variety.
But this one will be worse.
If stocks do drop a total of 37 percent, that would just bring them back to levels that would be considered “normal†or “average†by historical standards. There is certainly the possibility that they could fall much farther than that.
And of course the markets are so incredibly fragile at this point that any sort of a “trigger event†could cause a collapse of epic proportions.
All it is going to take is a major disaster or emergency of some sort.
Do you have a feeling that something really bad is about to happen? This is something that I have been hearing from people that I respect, and I would like to know if it is a phenomenon that is more widespread. If you have been feeling something like this, please feel free to share it with us by posting a comment below.
Article reposted with permission from The Economic Collapse Blog, the opinions and views shared do not necessarily reflect the views of Sons of Liberty Media.
I think our economy could crash too but I think that will be the start of the second(amendment) revolution and I think those of US on the Right side will come out on top and rebuild America the way it’s defined in the constitution again.
Go to the original place I took the report from. Some of the words are in blue on it and you can click on it there. I read the ones from my state. Texas has a bunch. Most look like small stores. Those in Alabama are small towns.
“Did you know that 15 trillion dollars of global stock market wealth has been wiped out since last June?”
Did anyone look in George Soros bank account to see if there was a 15 Trillion Dollar deposit?
You have your opinion and others have theirs. Yours ain’t gospel and neither are the others. Give it a rest junior.
George is getting on up there. When he drops dead, Obama is going to lose his sugar daddy. But, there is a replacement in place I guess for Obama to continue to hit the tit.
On the lighter brighter side Obama, all elected Democrats and the MSM think the economy's doing just great under Obama...
Guns, Ammo, Food, and Water Storage is selling like hotcakes though. Hmmmmmm.....odd isn’t it?
So, were they full last June?
My point is, that while business conditions may vary across the country, there is little to justify the collapse of the stock market. A well-run US office buildings REIT would contain properties in various locations, most of which are doing OK, while some are struggling. If anything, office vacancies nationwide are slightly down since June.
I didn’t state an opinion, I stated facts, son.
There are other stories up now; it must have moved the Walmart closure story further dow.n.
I will keep looking...
I ain’t your son butt wipe. You couldn’t carry my jock strap pal. Go away. I don’t have time for little boys who play with their pecker while you whack a keyboard.
Several months ago, I was telling friends to get out of the market. I know they didn’t listen, because they were telling me their brokers were advising them not to, not to panic, etc.
I won’t be saying “I told you so” to their faces. But I told them so!
The number of packages shipped to American households has steadily risen the past couple years. People are taking advantage of the simplicity, convienence and security of ordering from their living room. Amazon is the one I am seeing rise the most. Wal-Mart is also on the upswing. I’ve seen packages and boxes of all sizes. From cellphone covers to cases of toilet paper. Brick and mortar is becoming something from the 20th century.
He but it’s all good cut odumbell says anyone who says the economy is not trucking along is peddling lies.
There are advantages for both Walmart and the consumer. Walmart doesn’t need shelf space to display what they are selling and shrinkage is greatly reduced. The consumer doesn’t have to run the gauntlet of “People of Walmart” nor stand in the line of the only register open.
ANd it's 269 stores out of 11,000.
You seem fixated with peckers and jock straps - why is that son?
They aren’t from Arkansas, their HQ is in a north Nashville suburb. Their former CEO is now my junior U.S. Senator, David Perdue. He’s been pretty interesting so far, as he learns the ropes. Not beholden to the GOPe.
I did a search on “Welcome To The New Normal: The Dow Crashes Another 390 Points And Wal-Mart Closes 269 Stores” and went to the Sons of Liberty site that way.
Clicking on ‘269 stores’ gave me the list:
Walmart Express
#2173: 14331 Count Rd. 99, Headland, AL 1/28/2016
#2011: 18 Apple Way, Ashford, AL 1/28/2016
#2165: 952 E. Lawrence Harris Hwy, Slocomb, AL 1/28/2016
#2186: 407 West Washington St., Abbeville, AL 1/28/2016
#2235: 6361 Hwy 72 East Gurley, AL 1/28/2016
#2260: 87395 US Hwy 278, Snead, AL 1/28/2016
#3769: 3530 Cathedral Caverns Hwy, Grant, AL 1/28/2016
#3779: 10188 Hwy 431 South, New Hope, AL 1/28/2016
#2498: 720 N Hwy 71, Mansfield, AR 1/28/2016
#2578: 3500 Mulberry Hwy 64 W, Mulberry, AR 1/28/2016
#2601: 814 W. Main, Charleston, AR 1/28/2016
#2669: 1531 E Hwy 64, Coal Hill, AR 1/28/2016
#3819: 8848 N Hwy 59, Van Buren, AR 1/28/2016
#3878: 5 Hwy 124 West, Damascus, AR 1/28/2016
#4217: 154 E Roller, Decatur, AR 1/28/2016
#3032: 905 S Gentry Blvd, Gentry, AR 1/28/2016
#3033: 800 1st Ave SE, Gravette, AR 1/28/2016
#3034: 881 W Buchanan, Prairie Grove, AR 1/28/2016
#3358: 1113 S.R. 20, Interlachen, FL 1/28/2016
#4265: 1209 East Wade St., Trenton, FL 1/28/2016
#4267: 15726 SE Hwy 19 Cross City, FL 1/28/2016
#4228: 560 S. Broad St., Ellaville, GA 1/28/2016
#4229: 1041 S US Hwy 1, Alma, GA 1/28/2016
#4234: 155 West Washington Ave., Ashburn, GA 1/28/2016
#4251: 398 Barrow Ave SW, Pelham, GA 1/28/2016
#4254: 907 Marianna Hwy, Donalsonville, GA 1/28/2016
#4261: 290 Albany Ave. West, Pearson, GA 1/28/2016
#4263: 142 S. Valdosta Road, Lakeland, GA 1/28/2016
#3065: 3636 N Broadway St., Chicago, IL 1/17/2016
#3039: 225 W Chicago Ave., Chicago, IL 1/17/2016
#3369: 900 East Ross Ave., Clearwater, KS 1/28/2016
#4353: 505 Housatonic St., Burlington, KS 1/28/2016
#4360: 705 N High School Ave., Columbus, KS 1/28/2016
#4361: 1105 East 15th St., Ellsworth, KS 1/28/2016
#4362: 120 West Rosewood St., Rose Hill, KS 1/28/2016
#4651: 605 Orchard Drive, Hillsboro, KS 1/28/2016
#3755: 1445 Old Highway 13, Mamou, LA 1/28/2016
#4634: 1506 Main St., Colfax, LA 1/28/2016
#3753: 620 North Hwy 26, Lake Arthur, LA 1/28/2016
#3815: 501 West Hwy 90, Iowa, LA 1/28/2016
#3839: 9181 Hwy 67, Clinton, LA 1/28/2016
#3849: 920 Avenue G, Kentwood, LA 1/28/2016
#3879: 1495 Obrie St., Zwolle, LA 1/28/2016
#4647: 515 3rd St., Independence, LA 1/28/2016
#4269: 224 E Hwy 76, Anderson, MO 1/28/2016
#4270: 508 N Cliffside Dr., Noel, MO 1/28/2016
#4282: 33597 State Hwy 112, Seligman, MO 1/28/2016
#4289: 414 N Elm, Clever, MO 1/28/2016
#3856: 410 2nd St., Belmont, MS 1/28/2016
#3863: 2795 Hwy 371 N, Mantachie, MS 1/28/2016
#3865: 420 E Lee St., Sardis, MS 1/28/2016
#3866: 28191 Hwy 15, Walnut, MS 1/28/2016
#4294: 519 W Veterans Ave., Derma, MS 1/28/2016
#4296: 7104 Will Robbins Hwy, Nettleton, MS 1/28/2016
#3211: 509 Dr. Donnie H. Jones Blvd W, Princeton, NC 1/28/2016
#3249: 511 N Mckinley St., Coats, NC 1/28/2016
#5024: 6043 US Hwy 301 S, Four Oaks, NC 1/28/2016
#3257: 112 N Main St., Broadway, NC 1/28/2016
#5015: 908 E. 4th Ave., Red Springs, NC 1/28/2016
#5017: 7670 Clinton Rd., Stedman, NC 1/28/2016
#7207: 1400 B Broad St., Oriental, NC 1/28/2016
#5138: 702 S. Wall St., Benson, NC 1/28/2016
#2500: 945 Monroe St., Carthage, NC 1/28/2016
#2573: 303 S. Goldsboro St., Pikeville, NC 1/28/2016
#6997: 632 W Swannanoa Ave., Liberty, NC 1/28/2016
#3007: 139 N Hwy 49, Richfield, NC 1/17/2016
#3036: 1593 NC Hwy 86 N, Yanceyville, NC 1/28/2016
#3037: 905 SE 2nd St., Snow Hill, NC 1/28/2016
#3080: 182 NC 102 W, Ayden, NC 1/28/2016
#3121: 189 Hickory Tree Rd., Midway, NC 1/28/2016
#3756: 124 E. Columbia St., Okemah, OK 1/28/2016
#4633: 19250 E Hwy 66, Luther, OK 1/28/2016
#2456: 2310 West Main, Prague, OK 1/28/2016
#2462: 1600 West Hwy 66, Stroud, OK 1/28/2016
#3766: 2324 Seran Drive, Wewoka, OK 1/28/2016
#3767: 812 N Clarence Nash Blvd., Watonga, OK 1/28/2016
#1250: 9032 Hwy 14, Gray Court, SC 1/28/2016
#3798: 7013 S Pine St., Pacolet, SC 1/17/2016
#2375: 4718 Nashville Hwy, Chapel Hill, TN 1/28/2016
#2413: 523 N Military St., Loretto, TN 1/28/2016
#4301: 400 North Main St., Cornersville, TN 1/28/2016
#4306: 934 Hwy 79, Dover, TN 1/28/2016
#2345: 721 Dale Evans Drive, Italy, TX 1/28/2016
#2349: 221 S State Hwy 274, Kemp, TX 1/28/2016
#2363: 504 W Pine St., Edgewood, TX 1/28/2016
#2364: 301 Hwy 69 S, Whitewright, TX 1/28/2016
#2410: 122 Commercial Ave., Anson, TX 1/28/2016
#2461: 1003 Telephone Cir., Merkel, TX 1/28/2016
#2779: 5 N 14th St., Haskell, TX 1/28/2016
#2863: 1010 N Main St., Winters, TX 1/28/2016
#3820: 501 N Main, Godley, TX 1/28/2016
#3822: 416 N Third St., Grandview, TX 1/28/2016
#3832: 420 S US 69, Leonard, TX 1/28/2016
#3834: 428 N Dallas St., Palmer, TX 1/28/2016
#4312: 440 E Pine St., Frankston, TX 1/28/2016
#4316: 1787 US Hwy 259 S, Diana, TX 1/28/2016
#4320: 1005 Texas Avenue E, Waskom, TX 1/28/2016
#4327: 870 Taylor St., Hughes Springs, TX 1/28/2016
#4331: 914 North Main St., Lone Star, TX 1/28/2016
#4338: 504 WL Doc Dodson, Naples, TX 1/28/2016
#4343: 12522 Fm 1840, Dekalb, TX 1/28/2016
#4345: 114 Redwater Boulevard West, Maud, TX 1/28/2016
Walmart
#2524: 5502 Monterey Hwy, San Jose, CA 1/28/2016
#2949: 151 E 5th St., Long Beach, CA 1/28/2016
#5457: 8400 Edgewater Drive, Oakland, CA 1/17/2016
#2960: 4101 Crenshaw Blcd., Los Angeles, CA 1/17/2016
#3507: 2701 Port Covington Drive, Baltimore, MD 1/17/2016
#3496: 5825 W Hope Ave., Milwaukee, WI 1/28/2016
Supercenter
#3814 6525 Glacier Hwy, Juneau, AK 2/5/2016
#763: 7201 Aaron Aronov Drive, Fairfield, AL 1/28/2016
#4584: 10400 Highland Rd., Hartland, MI 1/28/2016
#4369: 1010 Martin Luther King Pkwy., Durham, NC 1/28/2016
#2837: 4350 N Nellis Blvd., Las Vegas, NV 1/17/2016
#4342: 22209 Rockside Rd., Bedford, OH 1/28/2016
#2606: 721 US Hwy 321 BYP S Unit, Winnsboro, SC 1/28/2016
#883: 14091 FM 490, Raymondville, TX 1/28/2016
#5493: 7480 Padre Island Hwy, Brownsville, TX 1/28/2016
#5478: 8201 N FM 620, Austin, TX 1/28/2016
#597: 7075 FM 1960 Rd W, Houston, TX 1/28/2016
#3811: 61 Plaza Drive, Kimball, WV 1/28/2016
Neighborhood Market
#5783: 117 Audubon Drive, Maumelle, AR 1/17/2016
#5642: 2408 Lincoln Ave., Altadena, CA 1/28/2016
#5688: 6820 Eastern Ave., Bell Gardens, CA 1/28/2016
#3086: 701 W Cesar E Chavez Ave., Los Angeles, CA 1/17/2016
#5690: 2045 E Highland Ave., San Bernardino, CA 1/28/2016
#4173 12120 Carson St., Hawaiian Gardens, CA 1/28/2016
#5002, 8196 West Bowles Ave., Littleton, CO 1/17/2016
#3021: 2253 S Monaco Pkwy., Denver, CO 1/28/2016
#2303: 333 N Main St., West Hartford, CT 1/28/2016
#5856: 601 N West St. STE 100, Wichita, KS 1/28/2016
#5860: 9831 E Harry St., Wichita, KS 1/28/2016
#5873: 4794 E 13th, Wichita, KS 1/28/2016
#3097: 8235 SW Apple Way, Portland, OR 1/17/2016
#5995: 17711 Jean Way, Lake Oswego, OR 1/28/2016
#3306 1220 Gallatin Ave., Nashville, TN 1/28/2016
#3171: 2218 Greenville Ave., Dallas (Greenville), TX 1/28/2016
#3451: 2740 Gessner Rd., Houston, TX 1/28/2016
#5985: 2201 West Southlake Blvd., Southlake, TX 1/28/2016
#4126: 1901 S. Texas Ave., Bryan, TX 1/28/2016
#5986: 4268 Legacy Drive, Frisco, TX 1/17/2016
#3030: 3850 N 124th St., Wauwatosa, WI 1/28/2016
#3031: N88W15559 Main St., Menomonee Falls, WI 1/28/2016
#5698: S14W22605 Coral Drive, Waukesha, WI 1/28/2016
Amigo
#2343: 7B Calle Munoz Rivera, Villalba, PR 1/28/2016
#2347: Bo Salto Arriba, Utuado, PR 1/28/2016
#2342: PR 14, Parque Industrial, Coamo, PR 1/28/2016
#3667: 1 Ave Monserrate STE 1, Carolina, PR 1/28/2016
#3684: Carr 180 KM 0 HM 2, Salinas, PR 1/28/2016
#3689: Centro Com Rio Grande State, Rio Grande, PR 1/28/2016
#3697: Carr 165 KM 4.7, Toa Alta, PR 1/28/2016
Sam’s Club
#4903: 941 Grinnell St., Fall River, MA 1/28/2016
#6648: 1110 Fall River Ave., Seekonk, MA 1/28/2016
#6665: 495 Summit Drive, Waterford, MI 1/28/2016
#6681: 25 Pace Blvd., Warwick, RI 1/28/2016
Looks like most of the Walmart store closings are in the south. Since Walmart started in Arkansas, maybe they tended to overbuild in the south?
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