Is The Retail Apocalypse Here? - MASSIVE Retail Chains Have Gone Bankrupt!
In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the countless companies filing for Chapter 11 bankruptcy in the past year.
A total of 30 retail chain corporations have filed for bankruptcy in the past year. 50 in the past 3 years. There appears to be a growing trend.
From Toys "R" Us to Macy's, Sears, Radioshack, Aeropostale, Claire's and the list continues to grow seemingly by the week.
We are seeing corporations be forced to compete against a massive government subsidized monopoly like Amazon and they're scrambling. Of course these are the monopolies of the past going under because corporate power is being pushed into the hands of fewer by the day. This could not happen if it weren't for government handouts to corporations while taxing and regulating everyone else out of the market.
Now Amazon provides a good service. It has a lot of earned demand on the free market, but it has an unfair advantage due to corporatism at the hands of the state. It's impossible to compete against a corporation being propped up with tax payer money and there's no incentive for Amazon to do a good job or innovate neither.
Many corporations like Walmart, Save On Foods and Costco are desperately attempting to match Amazon when it comes to groceries and supplies by delivering their products. There's a lot of desperation and it looks like the bubble is popping as fundamentals do not seem to apply any long.
As this bubble grows more and more pressure, we will see more automation, more taxation as an excuse which will make the problem worse, more unemployment, poverty and higher prices on lower quality goods and services.
It's time this power was handed back to the individuals on the free market rather than government subsidized corporatism. State conglomerates. The forced marketplace.
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Retail is the worst business model on the planet these days. Working retail or owning a retail store would be my own form of personal hell! Lol 😂Thanks for the post.
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The Sears by my house just closed. I see more and more empty retail space in the strip malls.
Lots of small shops going bust too. I wonder how that compares to the scale of the large retailers. I'm seeing lots of shop fronts disappearing in a very affluent areas which doesn't bode well.
Great information thanks for sharing a nice video keep it up Thanks for sharin nice to read and watch it its my first experience on your post good content createor
Nah its more poor marketing and then on top of that poor changes to the way things are now. No one really goes to the mall to buy things you order them online. So get your products into those online hubs and close down the brick and mortar shops that are not profiting.
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