"Did you know that the number of retail store closings in 2017 has already tripled the number from all of 2016?
Last year, a total of 2,056 store locations were closed down, but this year more than 6,700 stores have been shut down so far.
That absolutely shatters the all-time record for store closings in a single year, and yet nobody seems that concerned about it.
In 2008, an all-time record 6,163 retail stores were shuttered, and we have already surpassed that mark by a very wide margin.
We are facing an unprecedented #retailapocalypse,
and as you will see below, the number of retail store closings is actually supposed to be much higher next year.
Whenever the #mainstreammedia
reports on the retail apocalypse, they always try to put a positive spin on the story by blaming the growth of #Amazon
and other online retailers.
And without a doubt that has had an impact, but at this point, online shopping still accounts for less than 10 percent of total U.S. retail sales.
Look, Amazon didn’t just show up to the party.
They have been around for many, many years and while it is true that they are growing, they still only account for a very small sliver of the overall retail pie.
So those that would like to explain away this retail apocalypse need to come up with a better explanation.
As I noted in the headline, there are 20 different major retail chains that have closed at least 50 stores so far this year.
If the U.S. economy was really doing well, then why are all of these major retailers closing down locations?
Of course, the truth is that the economy is not doing well.
The U.S. economy has not grown by at least 3 percent in a single year since the middle of the Bush administration, and it isn’t going to happen this year either.
Overall, the U.S. economy has grown by an average of just 1.33 percent over the last 10 years, and meanwhile, U.S. stock prices are up about 250 percent since the end of the last recession.
The stock market has become completely and utterly disconnected from economic reality, and yet many #Americans
still believe that it is an accurate barometer of the health of the economy. 🖐🏾More in comments👇🏾 #S