JC Penney

The "Retail Apocalypse" Is Officially Descending Upon America

“What’s going on is the customers don’t have the fucking money. That’s it. This isn’t rocket science.” Consumerism has long been a defining element of American society, but retail giants are now shutting down thousands of their locations amid a long-anticipated "retail apocalypse."

What The Hell Is Going On?

"The dissonance between what I have been observing and what is being flogged by the establishment mouthpieces in the corporate mainstream media has never been greater. I’m 53 years old. The older I get the less sure I am about things I was sure about when I was 25 years old... I find it exhausting. We’re lost in a blizzard of lies."

Perpetual Black Friday

Whatever numbers the retail association posts this weekend for Black Friday (typically overoptimistic assessments) are likely to be skewed this year even more.

Another Headline Head Fake - The Consumer Can't Save The U.S. Economy

At the end of the day, the seasonally maladjusted data for April retail sales amounts to no more than a swiggle in the larger trend. To wit, consumption spending financed by the growth of transfer payments and household borrowing is coming up hard against Peak Debt, while tepid growth in wage and salary income remains hostage to a domestic economy plagued with structural barriers to growth, an aging business cycle and a gathering global recession from which it is not remotely decoupled. So contrary to Reuters and its Keynesian quote standbys, it is not true that “the demise of the U.S. consumer have been greatly exaggerated”. Actually, it can be hardly exaggerated enough.

"Sick Joke" JC Penney Still On Bankruptcy Path

J.C. Penney sales have fallen by 36% since 2007. They have lost billions over this time frame. They have four times as much debt as they do equity. They have $2.5 billion of current liabilities and only $400 million of cash to pay off those liabilities. But, the bozo management thinks going into the low margin appliance business is going to save this sinking ship. Sorry bozo. You are going bankrupt. It’s just a matter of time.

Dear Barack... You Forgot To Mention A Few Things

While 'our' President was out this week patting himself on the back and taking victory laps over the "supposed" 4.9% unemployment rate, he forgot to mention a few important tidbits about what is really going on.

American Malls In Meltdown - The Economic Recovery Is Complete & Utter Fraud

What happens when we roll back into the next official recession, unemployment soars, and consumers really stop spending? What is revealed when you look under the hood of this economic recovery is that it is a complete and utter fraud. The recovery is nothing but smoke and mirrors, buoyed by subprime auto debt, really subprime student loan debt, corporate stock buybacks, and Fed financed bubbles in stocks, real estate, and bonds. The four retailers listed below are nothing but zombies, kept alive by the Fed’s ZIRP and QE, as they stumble towards their ultimate deaths. The coming recession will be the knife through their skulls, putting them out of their misery.

Is This Complacency, Idiocy, Or Both?

How can it be implied that the markets are too fragile to deal with an unexpected raise of interest rates to (gasp) 1/4 of 1%, if all the “data” we were told (or sold) has been showing signs of all this “improvement?” The question still remains: How does any Ivory Tower prognosticator, or Wall Street talking head, square all these circles? Simple – they don’t. They just act as if it they didn’t or won’t happen. Or, just continue to act as if we’re too dumb to answer. This is complacency, idiocy, and more – all turned up to 11!

Consumers Are Not Following Orders

Last week the government reported personal income and spending for April. After months of blaming non-existent consumer spending on cold weather, shockingly occurring during the Winter, the captured mainstream media pundits, Ivy League educated Wall Street economist lackeys, and Keynesian loving money printers at the Fed have run out of propaganda to explain why Americans are not spending money they don’t have. The corporate mainstream media is now visibly angry with the American people for not doing what the Ivy League propagated Keynesian academic models say they should be doing. An economy built upon the consumption of iGadgets, Cheetos, meat lovers stuffed crust pizza, and slave labor produced Chinese baubles, along with the production of enough arms to blow up the world ten times over, and the doling out of trillions to the non-productive class, is doomed to fail.

Should You Believe What They Tell You? Or What You See?

Sometimes I wish I could just passively accept what my government monarchs and their mainstream media mouthpieces feed me on a daily basis. Why do I have to question everything I’m told? Life would be much simpler and I could concentrate on more important things like the size of Kim Kardashian’s ass... The willfully ignorant masses, dumbed down by government education, lured into obesity by corporate toxic packaged sludge disguised as food products, manipulated, controlled and molded by an unseen governing class of rich men, and kept docile through never ending corporate media propaganda, are nothing but pawns to the arrogant sociopathic pricks pulling the wires in this corporate fascist empire of debt.