by silvertomars
HIKING pic.twitter.com/F3AfvUft4U
— spaghettilisbon (@spaghettilisbon) August 31, 2022
Ain’t no one got money to go shopping! Bed Bath & Below: Shares Plunge On New Stock Offering, Job Cuts, 150 Store Closures
Lets face it.
Needs are starting to take over wants, most folks are picking necessity over desire. Food and energy take priority to exist in Joe (blow) Biden’s America..
Just a matter of time before small shops and now even big BOX stores will start to go under faster than back when the pandemic started.
“They are running out of cash and desperately need to raise cash just to keep the business going.”
Bed Bath & Beyond will close approximately 150 lower-producing banner stores. It will also be exiting a third of its Owned Brands by discontinuing three of its nine labels (Haven, Wild Sage, and Studio 3B).
Another cost-cutting measure will be the reduction of 20% of its workforce.
This will be the going forward Trend, shops will not be able to keep their doors open, unless they take drastic measures..I expect layoffs to be stacking up here big time 2023, to bring in Agenda 2030.
Inflation Is SO Bad That REAL Home Price Growth Has Slowed To 2.23% YoY While REAL Wage Growth Is -3.31% YoY (As Fed’s M2 Money Growth Slows)
When inflation is so bad that REAL wage growth is negative (-3.31% YoY), I would hardly call that a strong economy for the middle class and low-wage workers.
We also see that REAL home price growth (existing home sales median price YoY – CPI YoY) has slowed to only 2.23% YoY in July.
The rate of change in rents is slowing. The 10% YoY increase is the smallest we've seen since June 2021. Still well above pre-pandemic growth rates, but moving in the right direction. Housing inflation has been understated in CPI, however, and will likely continue to rise there.
— Charlie Bilello (@charliebilello) August 30, 2022
Reported consumer inflation is now well into double digits in large parts of Europe…
European Central Bank could be forced into 75 basis point hike to tame record inflation
Bear markets tend to be back-end loaded, with the largest declines coming in the last third (of time duration) 11 out of 16 times, with the average decline in the last third double that of the 1st or 2nd third. Of course we don't know duration ex-ante. pic.twitter.com/vvY0bWsFHn
— Nick Reece (@nicholastreece) August 31, 2022