25,000 Store Closures in 2020! Economy Rapid Contraction and Rising Bankruptcies!

“Soon, the earth will rumble under the heels of the angry mobs.” I wrote that line not about this current situation. Not about any particular situation. But about the unrest we are seeing only escalating. People are at the edge. We must acknowledge growing inequality. The divide between the rich and poor. The madness that follows is inevitable.

2019 was a record year for store closures and as you can imagine, 2020 will surpass it, by far. The effects of the crisis of 2020 will reverberate for a while and cannot be reversed by government stimulus. It’s simply impossible and illogical. There is something that must be understood, what we are seeing today, is the asymmetrical global economic collapse. Get ready.

 

Coronavirus bankruptcy: Hertz, J Crew, among businesses who have filed

www.usatoday.com/story/money/2020/05/27/chapter-11-bankruptcy-retail-jcpenney-tuesday-morning-coronavirus/5265841002/

Powell Says Fed Policies ‘Absolutely’ Don’t Add to Inequality – Bloomberg

www.bloomberg.com/news/articles/2020-05-29/powell-says-fed-policies-absolutely-don-t-add-to-inequality

ETFs purchased.jpg (818×408)

www.zerohedge.com/s3/files/inline-images/ETFs%20purchased.jpg?itok=QTM9kF9b

US food prices see historic jump and are likely to stay high

apnews.com/54f1efe0afa71b0a939fda91cf917366

Two-Thirds of Public Restaurants Are Seen at Risk of Bankruptcy – Bloomberg

www.bloomberg.com/news/articles/2020-05-29/two-thirds-of-public-restaurants-are-seen-at-risk-of-bankruptcy

State of the Industry | OpenTable

www.opentable.com/state-of-industry

Coronavirus in NYC: Restaurants That Have Closed Permanently Due to the Pandemic – Eater NY

ny.eater.com/2020/5/8/21248604/nyc-restaurant-closings-coronavirus

Coronavirus stimulus: Mitch McConnell says relief bill will be final one

www.cnbc.com/2020/05/29/coronavirus-stimulus-mitch-mcconnell-says-relief-bill-will-be-final-one.html