Stores Closing PERMANENTLY as MEGA Job Losses Pile Up! Debt Spiral Out of Control

When the statistics piling up are in fact worse than the 1930’s, you know you have a problem. There are stores closing everywhere. Not temporarily. Permanently. If you have a store that is no longer in business, the employees are no longer making money. Sure, they can have government money, but how long will that last? How much debt can a nation get in without massively raising taxes? There is no end in sight to this and we’ve only just begun.

 

CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit

www.cnbc.com/2020/05/19/cbo-projects-38percent-drop-in-gdp-2point1-trillion-increase-in-the-deficit.html

Mnuchin: U.S. ‘fully prepared to take losses’ on coronavirus bailouts

www.cnbc.com/2020/05/19/we-are-fully-prepared-to-take-losses-on-coronavirus-bailouts-mnuchin-says.html

California Task Force calls on Congress for $1 trillion in coronavirus aid

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www.cnbc.com/2020/05/19/california-task-force-calls-on-congress-for-1-trillion-in-aid.html

Commercial Real Estate’s Havens Suddenly Not So Safe – WSJ

www.wsj.com/articles/commercial-real-estates-havens-suddenly-not-so-safe-11589889600

Over 4 million Americans are now skipping their mortgage payments – MarketWatch

www.marketwatch.com/story/over-4-million-americans-are-now-skipping-their-mortgage-payments-2020-05-18

Loaded With Cash, Property Buyers Wait for Sellers to Crack – Bloomberg

www.bloomberg.com/news/articles/2020-05-19/loaded-with-cash-real-estate-buyers-wait-for-sellers-to-crack

US home building collapses 30% in April amid pandemic

news.yahoo.com/us-home-building-collapses-30-april-amid-pandemic-132851119.html

Arizona restaurant chain struggles to fill staff as unemployment claims soar | AZ Job Openings | azfamily.com

www.azfamily.com/news/continuing_coverage/coronavirus_coverage/businesses_hiring/arizona-restaurant-chain-struggles-to-fill-staff-as-unemployment-claims-soar/article_ddf870b6-98b9-11ea-ae33-dbb5ebc5dc06.html

It pays to stay unemployed. That might be a good thing

www.cnbc.com/2020/05/09/it-pays-to-stay-unemployed-that-might-be-a-good-thing.html

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City of Fairfield files for bankruptcy amid coronavirus pandemic | CBS 42

www.cbs42.com/news/local/city-of-fairfield-files-for-bankruptcy-amid-coronavirus-pandemic/

Emirates Flight Schedules: Carrier Considers Job Cuts, A380 End – Bloomberg

www.bloomberg.com/news/articles/2020-05-17/emirates-said-to-consider-30-000-job-cuts-retire-a380s-faster

J.C. Penney to permanently shut about 242 stores as part of bankruptcy plan

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www.msn.com/en-us/money/companies/jc-penney-to-permanently-shut-about-242-stores-as-part-of-bankruptcy-plan/ar-BB14g4S5

Michigan plans to furlough 64% of workforce, save $80M

www.detroitnews.com/story/news/local/michigan/2020/05/13/michigan-plans-furlough-64-percent-workforce-save-80-m/5182528002/

With cuts at Vice, Quartz, BuzzFeed, even media’s savviest digital players are hurting – San Antonio Express-News

www.mysanantonio.com/business/article/With-cuts-at-Vice-Quartz-BuzzFeed-even-media-s-15281052.php

Office Depot plans store closures, 13,100 job cuts by 2023

www.cnbc.com/2020/05/15/office-depot-plans-store-closures-13100-job-cuts-by-2023.html

Retail Chain Reitmans Seeks Bankruptcy Protection in Canada – Bloomberg

www.bloomberg.com/news/articles/2020-05-19/clothing-chain-reitmans-seeks-bankruptcy-protection-in-canada?srnd=premium-canada

Rolls Royce Braces for Turmoil With 8,000 Jobs on the Line – Bloomberg

www.bloomberg.com/news/articles/2020-05-04/rolls-royce-braces-for-turmoil-with-8-000-jobs-on-the-line

Retailer Pier 1 to permanently shut down, close all 540 stores in U.S. and Canada | CBC News

www.cbc.ca/news/business/pier-1-bankruptcy-1.5575801

Prince Charles wants furloughed workers to pick fruit and vegetables – CNN

www.cnn.com/2020/05/19/uk/prince-charles-fruit-picking-intl-scli-gbr/index.html

Daily Job Cuts – Layoffs, Job Layoffs List 2020 / 2019 , News , Bankruptcy, Store closings, Business Economy News

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