(by Half Dollar) Does anybody not find it odd that there is one name that keeps popping-up to the forefront of the Great American Looting Spree?
Especially when we recall things such as Target closing ALL of its stores in Canada within a very short period of time back in 2015:
Specifically, from the same link (bold added for emphasis and commentary):
This morning, Target Canada Co. announced that it will complete its inventory liquidation efforts and close the last of its 133 Canadian retail stores to the public on April 12. In addition, Target Canada’s three distribution centres and Mississauga headquarters have been closed. Liquidator-led fixture sales will continue in some locations. The company has been winding down its operations since January 15, 2015 when it obtained an Initial Order for protection from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (“CCAA”).
“We are pleased with the results of the liquidation sales to date and the speed at which we have moved through the wind-down process. We want to once again thank all Target Canada team members for their hard work and great adaptability through this process,” said Aaron Alt, Target Canada CEO. “The court-approved real estate sales process is underway and is expected to be completed by the end of June 2015.”
This seems to tells us that economic collapse happens fast, because if abrupt closure is speedy in the corporate world in the best of times, imagine what it will be like when various corporations aren’t really making decisions on their own about the closures, but rather, circumstances are forcing the decisions on them?
Side Note: Chase Bank forgave ALL credit card debt, for ALL Canadian customers in the Summer of 2019.
Fast forward to the civil unrest, looting and riots in the United States in late May, early June of 2020, and what do we see?
None other than Target front-and-center, of course, but more importantly, what would the closure of Target mean for America, if Target were to close, if not, at the very least, would it mean one serious hit to investor psychology?
Needless to say, from the very first week of the riots, Target has been in the spotlight, and since we’ve all seen the various footage of the chaos and violence, here’s my personal favorite (in only eleven seconds):
And no, I’m not saying, “do this” or “don’t do that”.
Regardless, when we see stuff like this on Target’s website now:
We should understand that ALL companies are virtue signaling right now, and, unfortunately, they’ve focused on the wrong thing – racism, instead of what this was really about before all else – the Unconstitutional acting US Police State and unaccountable police brutality.
In one month, it will be about something else.
Still, would it not be a stretch to get a press release announcing the closure of all US stores soon?
In January of 2015, Target announced it was closing all of its stores in Canada, and in less than four months, it happened.
For those keeping score, the riots began the last week of May, and that was after months of Covid-19 shutdowns.
Target has done well in the face of the shutdowns because let’s face it – people have to eat – and the government’s dime is free-flowing.
For now.
But when the government’s dime doesn’t have quite the same purchasing power, and Target is shown for the Karen-catering overpriced retailer that it is?
Finally, well, consider the absurdity our our economy and markets, in one single chart:
Which, in my opinion, is EXACTLY why President Trump is boasting so much about the jobs report when everybody knows jobs are being shed daily.
You see, It’s kind of hard to justify the massive stock market manipulation and market rigging taking stocks to new all-time highs for the sole purpose of enriching yourself and your bestest-buddies who dance the revolving door between Washington and Wall Street if the Deplorables think that people are losing jobs.
Or is it?