EVERY STORE IS CLOSING FOR THIS RETAILER IN 2024!
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- เผยแพร่เมื่อ 4 ก.ค. 2024
- So many businesses that have been in business for decades or even over century are closing their doors forever right now in 2024. Simultaneously we have businesses that were previously successful now filing for bankruptcy and cutting their locations in half just to survive. Is this the sign of a strong economy?
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100s of THOUSANDS OF PEOPLE GETTING SLAMMED WITH HIGHER MORTGAGE PAYMENTS! th-cam.com/video/nSmtD1Vt97g/w-d-xo.html
Right now I’m on vacation, I took money from under my mattress and my credit card . I didn’t wants to take vacation but because my sister bad situation, she sold me her time share in order to help her .
Try Comfrey Cream good for bones and joints it s plant.
@@musictorelaxandunwind🙏
I read Mod Pizza is also looking at bankruptcy.
I know you won't say it but I will. Bye-done put the Country in this position. It wasn't this way when Trump was President. And it's not a coincidence. Trump is a better leader. Way better!
My dishwasher wouldn't start the other day. I called Best Buy cuz I had their warranty. They quoted $99 to come out and look at it. My warranty only gave me 10% off! I was so mad that I took it apart and fixed it--it was a loose cable.
Best buy is terrible. I boycott them and have for years now.
Smart people know how to fix things.
The Geek Squad said they couldn’t fix my laptop said I needed to buy a new one. Illegal alien fixed it for $30.
Most things can be fixed by fiddling around and finding out what's wrong yourself. 😊 I bet it was very satisfying fixing to yourself and you're better for it
I had to repair a swamp cooler on the roof with our 17yo son.
Im 57yo F
We did it because no one would come and the hubby is on road for work.
Working fine now
I was a single parent of twin daughters. My ex took everything and left me to raise our daughters on my own. Zero help from family. I managed my budget and we always took vacations. Nearly all our vacations were camping in Yosemite, Tahoe, or a quick trip to San Diego if I could find a $50 hotel on Priceline. I avoided debt like the plague. I got my daughters though college and graduate school. We're all doing fine. I still have no debt, we all have perfect credit.
Same here. I'd only take 1 or 2 days PTO for camping or vacation, it'd be 4 days that way. Budget was $500, and take cooler with breakfast and picnic lunches. Sometimes 6 flags or aquariums or zoos have cheap tickets, plus fishing and swimming at local parks free, then last day in hotel for showers before long drive back if camping. Here in Texas, we have historical markers and parks with lakes stocked with fish everywhere. Traveling can be extensive, but driving was more comfortable for everyone and could bring more things instead of buying convenient items.
Wow! You did a great job! Congratulations.. I’ll bet your kids are proud of you to😀😊
@@autoimmunitycurse When my daughters were growing up, I always worried that my children were deprived. Their friends all came from wealthy families, took trips around the world, dined at the best restaurants. In the end, my daughters thanked me for teaching them how to live on the cheap. Now 36, they still hike, camp, mountain climb, ski. They still love dive dining for tacos and street food. I just got back from Mt Rainier with them.
Much respect to you, and congratulations for raising your daughters on your own. And doing a damn good job! My Mom had to shoulder most of the burden of raising four kids by herself after she and my stepfather split up. My Father did not consistently contribute to my upbringing outside of his time in the military. Thankfully, her multiple college degrees, including Registered Nursing allowed her to take care of us well.
You are more disciplined than most👍 That’s the problem with people now that are clueless and end up with huge debt.
There was a comment on another channel (about air conditioning) where people were talking about calling out a/c techs for a minor problem. One a/c tech chimed in and said "I don't go out the door for less than $300". As far as I'm concerned he can stay in his house. I had a problem with the a/c not coming on the day before a hurricane in Florida. NONE of the "big advertisement " boys were willing to come out, even if I was a regular customer. I called a small business ac tech about 5 miles away, told him my problem and he said "I got one more shutter to put up and I can come over". He came over and had it running in 15 minutes by resetting the float switch. Charged me $50, I gladly gave him a hundred$ and my thanks for saving me.
Awesome!
God saved me.
Your the man....l am sure he appreciated the gesture
Bless you for giving him a hundred 👍
The government is squeezing everybody, including HVAC companies. Maybe the Supreme Court ruling overturning Chevron, which prevents government bureaucrats from enacting their own policies due to ambiguous laws enacted by Congress. It removes power from unelected bureaucrats who cannot be normally replaced through the ballot box.
Growing up in the '80s, a retail space was never left vacant for long. Now abandoned retail is everywhere. Change is inevitable, but this seems a depressing way to experience it.
And the amount of new retail construction that has been halted, unfinished, sitting empty, for months now where I live, is staggering.
We're. Did. U. Live. In. The. 80s. I. Lived. In. Los. Angeles. Downtown. 😮😮
Our country is headed to 4th road
The retail bubble has blown up. This was expected from all the retail footage that was built in the 80's.
Please share this perspective, no answers needed, no yes or no, just let these words be seen, everywhere, NOW....Go!!
Retailer stores are closing….economy is bad, but Amazon is still shipping things out that people don’t need everyday.
Record breaking travel numbers this summer, sounds like a lot of people have disposable income. That doesn’t happen in a bad economy.
@@Scorpio1060-they are using credit cards
@@Scorpio1060-they probably traveling out because they want to... not because they have a lot of money
@@Scorpio1060- That does not mean the economy is good- that is consumer spending. If consumers are excess spending, that creates more debt. American consumer debt is higher than ever!
@@Scorpio1060- probably counting the invaders that are being dispersed throught the country.
Inflation, housing costs and insurance has largely destroyed all disposable income. So, nothing left for the restaurant industry.
@@not_nostradamus683 if you can't buy food at the grocery store you can't afford to go out to eat...
How America has changed with inflation, our tax $$$ going for wars and illegals ( more come everyday)…Our country is broke.😢
@@lindajohnson. Worse than broke, deeply in debt across the board.
Everybody loves Cheap money and Govmnt stimulus. Few understand the consequences.
Then the money printer stops, and soon prices catch up with the extra dollars....
All of your dollars are suddenly worth less. Your savings are worth less.
Assets and services cost more dollars, because of the inflated dollar supply. Each dollar buys less.
“You will own nothing and be happy” - WEF by 2030
All by design, people.
So true, lot of people are still not picking up on that fact .
Get them into the daily struggles of life so much that they forget about the bigger picture.
“You will own nothing and be happy”
@@usd25674 It seems Michael is one of them.
Retiring debt free and FIRE in my 40s was by design.
We need to start manufacturing things here at home again!!
Yeppers
Too much regulation and zoning. Math needs to work and need to have people ambitious enough to do it.
@@Wookierabbit then cut regulation
We can't afford the labor ..children in China work so much cheaper
We can, if CEO pay was brought down to levels reflecting reality.
Sorry to hear, I'm 69 and grew up in MA and I shopped at Bob's for years! Sign of the coming times.
wont be long they will start dropping like flies.
Bob's is coming to Reynoldsburg Ohio and Polaris in Delaware county Ohio. Maybe Bob sold out? Or he felt like relocating? Is Bob's inexpensive?
@@mikesrandomvideos Yep
Christmas tree shop , bed bath beyond,papa Gino's,Chicago uno ,sears,friendlys...all gone!
Retailers close virtually every year and the sky has not fallen yet.
This is the first time in many years that I did not hear very many fireworks blowing off. Usually, I hear them going off for a few days before and a few days after the 4th, This year the noise was down at least 90%. Maybe that was a benefit of the lousy economy, people are not pissing away their money on useless things.
I went to our local fireworks stand in NE Washington to get a few fireworks for the grandkids to watch. The Family Pack which used to cost $25.99 last year, now cost $45.99 for the same pack. Needless to say I didn't buy it! Outrageous inflation!
Same here, in fact it’s silent tonight
10x more fireworks this year in Las Vegas,Nevada.
So I guess people here are not to worried about spending money on stupid stuff.
@@tbugher62 I’m in the Bay Area, CA. No shortage of fireworks popping off here.
Ditto for Miami, they started early this year and are still going off today.
Hey Michael. Actually went shopping today and stopped by my local Best Buy. It looked like the store was closing. No stock, empty shelves, empty isles, a huge section in the middle of the store with open box specials because of returns. It was so depressing! 😱
Best Buy was cool before the chip was invented. I remember all the TV,s DVR's CD's it was fun. Technology is putting people out of work.
Obama 3.0
What happened to CompUSA?
They are next.
I went to Best Buy to purchase a toaster. They were charging $100 for a little toaster. Ridiculous.
BOYCOT THE ECONOMY! All of this is designed to strain every last dime from the bottom 99.999%. It is time to take back control! SAVE! DO. NOT. TAKE. OUT. LOANS!
💯
Do not entrust your money to a bank. It will be stolen from you.
you are right - SAVE, but dont keep it in the bank or you will lose it when the banks fail.....
Shop local? No chain stores. If small businesses grow they can hire the people let go from corporations with CEOs making 100% (I’ve learned 3000%) more than the bottom workers
@@sammyyourmammy8170yes ma’am 🫡
We wish the government would close their doors
Me, too. But 70,000 new gov't jobs in June is TRIPLE the prior month! That's 70,000 out of 206,000 new jobs that month.
@@chrislindsay3104 the government gets bigger and bigger, on our dime
Okay, then don't vote for any politicians, including Trump, please
Then live off the grid.
Government: closes doors.
Next day: hordes of roving marauders kill you, abduct your wife & kids, take all your other stuff as well.
You: I'll protect my family and my stuff with my guns!
Reality: No you won't, you'll be dead 5 seconds into the battle.
The US economy is collapsing. Inflation has killed it. Wages haven't kept up. Since the pandemic people learned to do with less. No government chearleeding will make that change. The push to a temporary workforce and a leasing economy has backfired.
Private equity killed it, go watch some video's.
@@petebusch9069let’s not forget potato brain!
@@JoesIceCreamCone He allowed it.
@@petebusch9069 Elaborate...how might he have stopped it?
This was intentionally orchestrated. None of this happened by pure chance.
Many business owners I know talked about "going Galt" in 2008-2009. Now they've had another decade of income and they're actually nearing retirement age. I fully expect many of these people's businesses to close now rather than fight through another tough cycle and risk what they've accumulated.
WTH is Galt ?
John Galt from Atlas shrugged by Ann Rand??
@@danbooher5843it essentially means that wealthy or highly productive people quitting and letting society crumble. All that will be left in society will be consumers, no producers left.
FYI- Bobs discount furniture and Bobs stores 2 different companies
Thank you
Most of us are Working everyday!
On my day off I'm fixing my a/c, doing laundry, burning garbage, cleaning house, fixing small kitchen items, washing dishes / cleaning kitchen, cooking, mowing grass... got to go...
No only about 40% of us are do actual real value creating work.
@trumplady4933…???
@@marty906 I hear ya . Sending shared chore get it done vibez
@@trumplady4933 We have to work two or three jobs to make ends meet under Bidenomics... F!J!B!
Honestly, a vacation within a couple hrs from home is an easy cash weekend get away. Airbnb is nice but there's campgrounds too. Relaxing without excess travel plans.
Gotta get a reservation for the camping spot. Not as easy as you'd like to think.
@@redleo380yep. Basically weekend trailer parks imo 😂🎉 id rather pay a farmer to go out on their land to camp then in a campground. 😢 they crammed so many spots in them by me it’s rediculous. 😮 maybe elsewhere you still get reasonable privacy 🤷♂️ my ex’s dad lived in rural Idaho. He thought it was insane to pay to camp. Which does make sense 🤔
Id stay with a relative in a different city... better yet if its in the country... get or bring an inflatable mattress
Airbnb should be called FEE bnb
Its ridiculous
Fee for hot tub
Fee for grill
Fee for cleaning
Host fee
Argggggh😮
We do short 2 or 3 day trips and camp in the car. Rest areas in secluded areas when the night time temps are comfortable without air. Cooler and snack bag and we roll. Traveling light short term is cheap fun.
A lot of stores in my small town are closing, all that will be left soon is walmart. I want to leave but our mortgage is lower than the rent prices! Why would I give up a $1000 mortgage for $2000 rent. Life seems so backwards anymore
You got beat my mortgage is 397 including taxes and insurance.
Remember Gimbel's, A&S, Wanamaker's, S. Klein's, Time Square Stores, Friendly Frost, Barney's,Robert Hall Clothing? Sears? Retail churn is normal.
@southothehighway I get that, but when you're in a small town it sucks when walmart is the only store to buy things from
Amazon takes jobs away in the long
run it's a curse to the economy
@@sammythompson3694 What do you have a 1/2 Br 1/2 Bathroom in Arkansas?
Our country is morphing into some unknown work situation for the lower working class . Just think of all the Malls and stores that have already closed in the past ten years ..now get ready for what is next . Who knows , but it just is certainly not going to lead to more jobs for the underclass who has no real trade skills or Technical training .This is world wide . Not just here .
But more undocumented immigration should help, right?! 😵💫
We built WAY too many stores from the 60's to the 90's. Amazon is forcing the big shakeout.
Elysium. Mars didn’t seem to work out. The islands are the yatch dwellers’ places. The lower 48 will mirror a ma d m ax.
@@jkmarshall3553 I work at an apt complex. We get delivery people every day delivering for Amazon. 4 out of 5 of the delivery people speak no English. I mean NO English. Their phones translate for them. I don't use Amazon, probably never will. Not that I'm anti anyone. However a person ought to know the language. I heard Amazon was able to fast forward citizenship, or maybe work visa? If that is true...that's not good. I have worked with people who have been going through the legal process for years and at great expense, to become citizens. They get no hand outs no freebies and pay taxes and are very proud to become citizens. AND they know and speak English. Not a fan of what's going on at the borders.
In our area anyone that lost their retail job can certainly find work in a warehouse that serves the online shopping world. In other words, the retain jobs have shifted to warehouse work not gone away.
New jobs are mostly government jobs So our taxes pay those salaries
Government worker's are the reason this country is 34 trillion in debt. They are societies burden
with borrowed dollars too. Great ideas!!!!
We also pay the salaries for Zelensky, his wife, his cabinet and some retirement pensions. Always have money for Ukraine and Israel.
@@mikesrandomvideos And those government employees also pay taxes, lol, so they pay themselves as well 🤣 Uncle Sam….
No they’re not its health care, retail, tech
Always entertained by your content, it's awesome!
Charter/Spectrum did this to themselves. Big missed opportunity to keep the people who weren’t reliant on streaming. Every single month they go/went up exponentially on the bill. They suck!
Spectrum sucks
Spectrum thinks people are made of money.
I bought an antenna…$24. Works great, 54 channels
@@giselawatson2203 Yeap! One time fee!
Yup, we cancelled them years ago.
It's amazing how one person and one party can create such chaos causing businesses to close.
Yes Jeff Bezos and Amazon
People are now more frugal. It’s almost like something instinctively; it's like you can smell it in the air: there’s an upcoming recession/depression. I was having a conversation with a friend and colleague and we both said the same thing at the same time, we got a bonus, and we both said we’re saving it. Also, the credit limits have been reached, so people are also spending less.
Being frugal is a good thing….
Agreed. I’m in Miami and hearing about more friends buying press-on nails ($8) instead of getting manicures ($40-60). And I don’t think it’s because they’re being “smart,” I think it’s a necessity. A great life- lesson on frugality and cutting corners, definitely.
All I know woman, putting all that make up is ugly. The natural look is the trend. All those who put on make up probably hiding their face.
We're keeping an eye out on yall.
That’s true for most. The amount of theft from people that maybe wouldn’t before is going up. There’s a reason stores are shutting down self checkouts. They’re theft funnels
@@analyticalhabitrails9857 thanks so much
I’m 52. Maybe went on 2 vacations with my parents growing up. My husband and I travel very well as adults bc he travels for work and we use points and miles for our getaways. I consider myself very lucky. We also live nicely, he’s self employed in the medical field. No children. I can see how everyone is tightening up their belts over the past 3 yrs. It’s only going to get worse unfortunately.
I think it would be a sad life to be 52yo and no kids. I live my life for my kids... 53yo male here.
@@networth00
I’m in my 50’s and I am kid free; I’m loving it, wouldn’t change a thing!
Have no fear. Your worries are now Over!!! I am looking to become adopted soon. At 58 years young…I am practically still just a baby fresh from my Momma’s womb. Please let me know asap. Incidentally I love traveling vacations (big mega hugs)🥰
@@networth00 Needlessly shaming childless people beyond petty.
Unless medically unable,you should have kids.
There's a bright side to all these American fast food restaurants closing. It might cause people to learn how to cook real food at home leaving out all the salt,sugar, and other additives in the American processed foods. I remember going to Applebys once and ordering something that had so much salt I couldn't eat it.
Imagine finding your lost $200, Bob’s gift card that you forgot about. Better use it fast
Gotta chew up the rei one I got 😮 we found some old “childs world” ones after my parents passed. Was the original toys r us in the early 90’s. At least in the northeast.
Had a bobs in our town forever. Noticed last few years it’s gone 😢
@@JFEnterprize
Lionel Play world here in the South before Toys R Us in the 80s.
@@willp.8120 was prob half a dozen descent family owned stores prior to toys-R-Us took over.
Amazon is taking over.
Michael .. telling the facts doesn’t register with some people when they don’t see it affecting THEM or the people they associate with .. that’s just how it is
Even during the Great Depression a lot of people still had jobs. Not everyone was a hobo riding the rails.
That’s that crabs in the barrel mentality.
Many weren’t sheep like the majority of people living beyond their means with debt spending money they don’t have. Keeping up with the Joneses,new cars,too big of home,too many kids,HELOCs,home loans,no saving/investing,etc..
This stuff registered with me back in the 80s and why I have no issues.
The guy is playing you. He is living off of searching the news for stories he can turn into negative videos and posting on TH-cam. He and others have been doing it for years and his audience (who really love it all the gloom and doom) eats it up. These guys have learned negativity sells and live well off of it.
The Great Depression is weak compared to what is likely coming. That Great Depression has been so overrated to make us think, "but it could be so much worse. Look at all the starving people and bread lines during the Great Depression". Essentially to make us feel that what is happening now isn't bad.
@@IP0Monsturd
No, we didn’t have higher wages compared to prices, in 70-80s. It was blasted hard to be a young person trying to get a start back then too, Lived it.
We didn’t expect our first home to be our “Forever Home” like many young people today. We learned to do without, scrimp & save. Accepted that the best of everything wasn’t in our budget. It was hard, but it did build character.
🎉🎉🎉 I actually feel kind of bad for the people who bought my restaurant about 2 years ago 😢. But they have a corporation that owns about 17-18 other restaurants and they have a partner who is a multi millionaire. But I just can’t see how they are actually making money 💵 during these hard times.
On the other hand,,, I’m so happy that I did sell when I did. I still have “Restaurant Nightmares” about how everything can go to Heck so fast ❗️being a restaurant owner is one of the most difficult jobs ever.
Thank you Michael 🙏.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Any business dealing w Food Products is a nightmare.
People think PTSD only relates to war veterans and such, but I have had nightmares of a previous stressful job almost a decade after I worked there! Owning a business can be super stressful!
@@GR-ju4db WOW 😯❗️ This is the first time I’ve ever heard this regarding a job. You have no idea how normal you made me feel with that. I woke up screaming and shouting at some nightmare employees that night of my very bad nightmares. Thank you so much for sharing this with me. I truly go through hell some nights because of this. I owned and operated 2 full service restaurants and the last one I sold about 2 years ago.. (I’ve had some awesome fun times at certain points but by doing this for over 32 years, I’ve gathered some nightmare memories)
Now I know where to mentally place these terrible nightmares and I thank you very much for that.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
especially now . people better off sitting still , and see how this plays out .
@debbiec6216
Q
Stock up on everything 3x to 10x everything. Sit quietly 🤫 😌.
Relax.
Q❤
Stopped spending. Only buy necessities.
If your toe is broke or injuries. Tape the the toe next to it. Going to ER is not worth it. They are only going to buddy tape your toe and tell you to wear a well supported foot wear eg shoe.
T
You forgot to mention the ER bill.
You forgot to mention the 5 hour waiting to be seen ... if your not unconscious.
ER Bill 3500 dolllars?😂
You're so correct, I have broke toes a few times and a nurse told me when I was a kid to do that,she said that's all they will do
One of the major reasons all of these gigantic chain stores are closing is they are owned by corporations that do not care about the employees, the planet or the local communities they just suck money out of. The goal of corporations is to make money for the corporation.Chain store have no soul or sense of ownership from employees.
. When you own hundreds of stores that all sell the same merchandise, that’s manufactured in a land by people who can not afford to live and eat. What do you think is gonna happen in the long run …I have sympathy for the employees in the stores,. Hopefully corporate greed will be blamed, not a failing economy or anything else.
Of course it is corporate greed!!!!!
I just love this channel. Good information. Good insight. This is like economy 101 and should be shown to every high schooler. I literally watch every video
We are kinda heading towards what happened with Japan where people just stopped spending which caused stagnation
Nope. People will continue to spend. Just not in stores. Online is so much easier and no crowds.
@@JBoy340a
Many in the U.S. scared because they are used to spending money they don’t have on nonsense living beyond means and keeping up with the Joneses.
The interest rate wasn’t raised high enough! In the late 70 s early 80 s. A home mortgage loan was 10 to 20 percent with 20 percent down!!
True .. but federal reserve chairman Paul Volker back then knew the U.S. economy was strong enough to handle .. with the gutting of manufacturing to outsourcing by the globalists . It can’t handle it
Yeah but 2 times the average annual income also bought a house back then. There would be a great benefit of higher interest rates in relation to inflation, but realistically 90%+ of people would be completely priced out of owning any house if the did they in the current state of the housing market.
Exactly and Powell is no Volker. Which means what.... we are most likely going to experience hyperinflation or worse stagflation like we have never seen. Either way we get to the same end. There is nothing that can save it at this point. We have crossed the rubricon.
I'm glad you made this video, it reminds me of my transformation from a nobody to good home, honest wife, $75k biweekly and a good daughter full of love ❤️
I'm inspired.
Please spill some sugar about the biweekly stuff you mentioned
@@MelodiRavoIt's Christina Ann Tucker doing she's changed my life. A BROKER- like her is what you need.
I raised 75k and Christina Ann Tucker is to be thanked. I got my self my dream car 🚗 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through her. Christina A. Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!
Wow 😱 I know her too
Miss Christina Ann Tucker is a remarkable individual who has brought immense positivity and inspiration into my life.
I started with a miserly $1500. The results have been mind blowing I must say TBH
Love your style, keep rocking it!
For all the people who are talking about Amazon it's unfortunate that you don't look into a little bit because with little effort you'd come to realize that they are the highest reseller of stolen goods... You're helping the retail theft problem every time you use Amazon..
I recall when trying to sign up as a seller, there was a pat of it they wanted me to...video interview for so called identity reasons. I wasn't comfortable with that at all, and soon learned they made some facial recognition software. Really uncomfortable with that. Apparently, only SOME of us do they wish to map our faces.
Most of it is cheap knock offs. There’s lots of the exact same things with a different company name attached
If you don’t know how to shop on Amazon just shop elsewhere.
There not cutting for a very long time , inflation is already on fire 🔥🔥
Bidenomics is working to destroy America.
Michael stop explaining yourself and reasoning, we already know you’re the best
The Bank that was providing liquidity to Bob's Stores, decided it was to risky and they couldn't find another bank willing to float the money to buy inventory. 150 employees out of work.
I always appreciate the way you communicate valuable information to everyone. I’m a frequent watcher of your podcasts and I encourage you to continue how you do things. You are very much appreciated Michael so be encouraged and keep doing what you do everyday!
Only concerned with housing, food, transportation, and health right now.
What about Democracy
Businesses are empty, things are expensive. JoAnn Fabrics was empty today, the game store had 3 people in there, Michaels crafts was empty today. The only place that was busy was the grocery store. We are saving, investing, and trying to be very frugal.
Retail has to deal with online competition, retail theft, higher insurance, higher wages, higher rent, it’s ugly.
Everyone is celebrating July 4th weekend with family and friends. At tye Beach, on the boat, barbequing
@@WizardKingCorey grocery store will get all the business...
FRUGAL your standard of living is dropping like a lead balloon.
Today being the day after July 4th I wold not put too much stock in that
The bad part of small amounts getting laid off after 6 months they will be off unemployment and if no job they will be off the unemployment list.
There are jobs out there. If they want one they will find one.
Just remember, the Fed said they need 7% unemployment to be happy... and with our govts bad math of what our unemployment is, currently "3.5% unemployed"... we have much more misery to go! Our republic is based off of the unemployed.
True unemployment is well over 10%.
4.1 % today!
And inflation is around 50%@@networth00
They want 7% unemployment? They should fire government employees.
I don't think the unemployment numbers are accurate. The way the tally that is faulty. There's no way to measure how many people have given up on finding a job that pays a living wage. And many are under employed. I doubt those people are included.
What is a vacation? I am in the first group of generation X. A vacation is when your employer pays you that week or 2 to be on "vacation". The last time that happened for me was in 2006 before Raybestos closed the doors on us. That was the last time I was earning a "living wage" that was 17.48 an hour and real good affordable health insurance. All the living wage manufacturing jobs are gone. Even John Deer is moving to Mexico. It really can't worse when a job pays next to nothing if you can even get 1. If you are a trespassing cockroach you are probably doing great.
blame the play bro, not the player. If borders were secured properly,there wb no trespassing.imho.
Inflation is getting bad in Australia , i notice a lot less people at the takeaways now . People are struggling with their mortgages and rent , its not looking good . The boomers are the only ones with lots of disposable income . We have record immigration atm and this is not helping with rentals and the cost of housing going up.
A combination of Agenda 2030 and the Kalergi Plan. All designed and orchestrated. It isn't organic happenings.
Buying from brick and mortar is the 20th century way, it’s like the toll booth collector, it’s never coming back.
BS, its going to come back in a huge way once people figure out anything mainstream is just bad.
@@petebusch9069 Nope, he is right.
@@marblox9300 Nope, this is setting the stage for small business to thrive. Everyone is sick of the giants and are looking elsewhere. You act as though its impossible for them to fall.
@@petebusch9069 The work from home culture destroyed commercial areas, including restaurants and shops, it’s also the cause for skyrocketing home prices all across the country. Shopping on line eliminated department stores. Any business will succeed and be profitable if they provide a service people want.
Hello Michael: I don't understand how people can go on vacation. My last vacation was in 2004, & I will be honest I don't have the money. God Bless, TMP from N.J.
My last vacation was in 2021.
@@Susan-id5xj Hello Susan. I'm glad you had a chance to get away. Hope you had fun & some relaxation 😌. God Bless & be safe.TMP from N.J.
There's a difference between being negative and being real. In my travels to discover the truth, Michael helps.
These days being real is slammed as being negative and will get you the label of "hater".
@@sittuof2313 He is making a living fear mongering.
the future for our children looks so bright
Let's go Brandon!
sarcasm alert
That they gotta wear shades.
Bob's furniture is famous for shelling out over priced items that are made with cheap material. You can now get better items on the internet.
@beshaxhaj2897 That's a different store. They are talking about Bobs clothing store that sells sports clothes that is closing.
It may be made of cheaper materials but the furniture itself is CHEAP…
Keep in mind we live in a society where Amazon exists. I never go to a store anymore. Amazon will have it at my doorstep either same day or next day.
Cuts out the headache of shopping
I have to shop online. The closest stores to us are 75 miles away. Nightmare traffic, too. . I don’t purchase much anymore since we are retired. I like Wayfair and have bought some things for the house. I even order from Walmart. We live in the country and it is so much easier.😮😮😮😮
You are giving money to a woke billionaire, and his Chinese friends.
Right, my head use to explode every time I had to go to multiple locations to still not find what I wanted and restaurants were always a hassle too. Home delivery is great.
Now u have the headache of returns and getting ur money back, and porch pirates. 😮
@@danbooher5843 returns and refunds go along with the shopping experience; in store/ online, much rather make one trip to Kohl’s, 1 consistent minute from my home vs running to a bunch of stores. Porch Pirates? Not really a problem in my community🤷🏼♀️
Thanks!
Thank you Robert, this is so kind of you!!
I think most businesses are in trouble because of taking to much debt, instead of stacking precious metals many choose to stack debt
They also went woke. Last time I was in a best buy you could feel the woke vibes.
People live above their means
Feel better soon Michael; best thing is to stay off your foot for awhile.
It's sad to hear of businesses closing; and even sadder the fact, people will be out a job. 😔
N. Florida, 8$ + for coffee, bagel w cream cheese at Panera's. Rip Off!
That actually sounds kinda normal.
I live near the Toyota plant in Indiana and just found out that they are shut down for the month of July
MOD Pizza, Red Lobster, Hooters, Walgreens, Big Lots, all closing to name a few! yeah the economy is fine. nothing to see here. 🙄
lol
I live in a VERY popular tourist town in Northern Maine and the town is packed and cranking. I have a friend that owns a restaurant here and he says people (tourists) are still spending. We tend to get mostly peeps 20-50 and most of them are active Millennials -- off-roading, hiking, kayaking, etc.
You're a Maine- iac? 😂
I'm in NH's lakes region. I hope our businesses that cater to the recreational tourists - like Maine's, keep going strong. But I bet a majority of their customers are using plastic that they do not have the $$ to pay off at the end of the month. The vacations that keep on giving... accumulating debt.
👋 Former Maniac here!
what town in northern Maine? I've been to Wiscasset, Camden, Boothbay Harbor, Lubec............coastal town's,but never vacaed in Northern Maine.
Excuse me for being “old”, what in the world is a “peep”?
Rite Aid closed all their stores in my area. Joey Biden says it's the strongest US economy ever. 😂
Rite Aid and Walgreens have been replaced like the stores in the mall. Every grocery store, Walmart, etc. by me sells everything a Rite Aid or Walgreens sells and also has a pharmacy. Why would I make a special trip to Rite Aid or Walgreens?
You need to investigate and do a video on how much all the job numbers and gdp have been revised. It is pretty eye opening.
We live in South Florida. Today my wife and I went to Walmart, Home Depot, Aldi, and Publix. All the parking lots were full and the there were plenty of shoppers in all these stores. I don’t go to malls anymore because if I need something and it’s not an emergency, I just order the item from Amazon or buy it at Costco which is ALWAYS crowded here in SF.
I went to the ritzy mall in Boca Raton and it was packed. People were shopping at all the boutiques inside Saks Fifth Avenue; Chanel, LV, Gucci. Also, the other stores were packed. It's like everyone here is filthy rich.
Grocery places are hoppin’! Non grocery stores aren’t.
@@networth00What ritzy mall in Boca?
Grocery stores seem to be doing the most business. I wonder if more people are eating at home., we certainly are.😮😮😮😮
Yes South Florida has wealthy people from all over the world visiting or living there. The thing is they are making even more money now post pandemic and the middle and lower class are getting crushed.
If you buy something, the lender can take it back, but the lender can't take back your "Hawaiian vacation" - those memories are yours to keep. This summer vacations are "HAVE A FUN BEFORE CHAPTER 7"!
If you run up the balances on credit cards, then try to declare bankruptcy right after, you can get in trouble with the court
People don't need $30,000 vehicles. Manufacturers only OFFER high end loaded vehicles so the consumer is forced to buy all this crap that breaks.
Compared to most industrialized nations, the USA has almost four times the retail store space per 100,000 population as most other nations. A retail apocalypse is happening. The recession and the pandemic are speeding it up.
This is a cause of car-dependence and urban sprawl. Online shopping was always going to kill small-medium retailers, a shaky economy is only quickening it.
I keep seeing how many jobs are being created and yet, it's been over a year for me and still continue to get no responses from potential employers. Just today, the latest was about 206, 000 jobs created in June. I sure as hell would like to know where and what kinds of jobs these are. Just a bunch of bs to try and keep people spending money.
Government figures do not count those who are unemployed after their unemployment payments run out. And a part time bartender job counts the same a doctor. If you dig into the statistics a bit, you will find that American citizens have lost jobs while immigrants have gained approximately the same number.
@@JohnShalamskas I have always said the same. And I don't understand how they don't count that, not everyone runs out to Uber or Door Dash when they lose their job or unemployment. Stupid gov't!!
@@Chirita008 what skills do you have? Where do you live? These are factors to which you find employment.
@@stevenpage8847 I live in a tourist town, so with inflation the way it is, there is nothing here that pays enough to live. I am looking to move somewhere that will appreciate my skillset.
I still see plenty of people shopping but I don’t see a lot of items being purchased. Most people are going out to get a few things that are necessities.
“Staycation.”
There was a Mod Pizza by us when we lived in Seattle. They were ok but thought it was overpriced. There was usually a decent amount of people there when we were out. Chuck E. Cheeses was always super expensive. That was a treat for birthdays and I'm not sure if you are aware but they have turned into brawl centers over the years. You can look up some of those videos. People ruined it with that alone.
I think the biggest thing we are seeing is that you can't be stupid with your money now. It was much more forgiving under the previous admin with us being energy independent and the global trade thriving. Now we have conflict all over the place including shipping routes and prices reflecting that. Then with people spending less companies can't really float anymore. A shipping container from China to NY was about $2k last year. That same thing is now $8k.
"taking on debt to take a vacation" you must be kidding!!
Probably such persons are not intending to pay the debt back.
This empty stores everywhere it’s crazy
And I still see more new retail buildings being built .
Mike, the why is internet competition, high rents and customer's lack of money. And despite what you hear elsewhere, do not underestimate rents.
There's Plenty I want to hold in my hands,check out before I buy? ( Can't do this Online?!) I have neighbor who shops Online, he has A prime top account. He told me ,( and I Quote! ) It ain't that Easy,Cheap if you return something?! Certain things, I Won't Buy Online,PERIOD!!🤔
sadly my families party supply business will be closing down after 90 years, obviously we are non essential and we've always known that but 90 years in cali, la, Hollywood is crazy for a lot of business, and don't blame the payrolls for this problem, it greedy corps, extremely high rents, and inflation
Maybe all the shoppers are vacationing all over the world in this great economy the experts talk about.
It’s called shopping from home, and there is record travel happening, sounds like plenty of disposable income out there.
Americans from all over are in CO right now and I wish they would go back home😂😂😂
@@Scorpio1060-
Mostly from debt, they'll learn.
Thank you Michael. Appreciate your efforts to inform and you're analysis. Keep preparing people. Blessings to all.
Went to Walmart for cookie making supplies. It was 40 dollars.
No way! 😮
OMG 😮
People shop differently now than they did 70 and 100 years ago.
Yeah, 100 years ago you could buy a lot of candy for a nickel.
Heck 5 yrs ago
@@irocksup123 Agreed
Just bought a chicken salad in Orlando today - $16.93 !!! 🥵
Yikes! That is expensive!😮
You got scammed
Oh Michael brother, we in the end times, things will get worse. Only Jesus Christ can save us. Get ready, prepare with military food and a community that is good willed and strong in spirit. Michael, stay safe and get ready.
People are getting close to maxing out their 29% credit cards and are so used to using their houses for ATM machines with cash out refinance every 5 years or so.
I just did a VA loan and had to pay points to get it down to 6.5% but the loan application process is brutal now and they want to see egret transaction on your bank statement. Even with my good credit score.
Things are very bad ahead, but most Americans are clueless
Wait Hol up?!?! I thought VA loans were 0% interest. Please correct me.
I only call local repairman and their charges are reasonable. Anyone that charges for just coming out, I advise to stay home.
Our local business for heating , ac and plumbing are being bought out by large chains but kept their old familiar names…. So people think they are using the same local business
Some Americans are still out of the loop and believe our economy is BOOMING... Jobs are disappearing and people are not getting replaced.
America has record traveling happening this summer. That happens when there is disposable income. Are those people in or out of the loop.
Obviously you don't have any ability to do simple research and only listen to propaganda media like Fox, OAN, Newsmax. Lolol our economy has never been better...facts are facts, don't be allergic to them.
I know quite a few out of the loop…in lala land really!
Could be on credit cards. Doesn't mean the people actually have the income to pay for it currently. @@Scorpio1060-
@@Scorpio1060- Agree. People seem to have plenty of disposable income. It is hard to believe that this 4th of July period is seeing the most airline travel ever. I guess everyone is on vacation.
Pizza chains closing. Where I live there is over 1000 that some should close. A 12"pizza with 2 toppings is $20 and $8.50 delivery plus tip. So you are looking at at least $32. When I go out for pizza I go to the local bar. They make their money on beer sales. The same size pizza is only $12 no delivery fee and they don't skimp on toppings. Ad live music, pool and darts, win win. If you invest. Invest in spirit companies. They always will come out on top in a depression.
I go after my food, no delivery.
we have pizza for 7.50 take home all day..
The weather is fine along the coast in S. Calif. Its been a high of 73. Nights have been in the low 60's. Inland is warm.
200,000 million americans going on vacation now ...dont think that is true...we have disposable income to take vacation...no way..holding on to it. Why go on vacation and pay huge prices on things not worth it
Because not everyone is broke
Starting @ Time - Stamp - 13:50.
Closing a call center eliminates long-term, higher-cost employees.
Starting another office and hiring new staff will lower operating costs.
Companies can hire home-based remote techs to save even more.
Times are a changin'
I live onLong Island so many stores have closed these past couple of months and the property just sits vacant. How can the people who own the property afford this? It’s bizarre nobody is talking about the commercial real estate apocalypse!! All the TGIF, Jersey Subs type of stores are closing the only place doing real well the Bars!!! People still need to drink and socialize. Also there are no more clubs on LI also all the young kids go to the bars every night.
I dropped most non-essential shopping during covid and stay loyal to one dept store for clothes and footwear. One shopper leaves they don't care - but it now appears that millions have done the same. I cannot imagine the time coming when prices are even higher. Buy an extra pair of shoes or boots before it does.
My sister works at a military Exchange store They have cut hours this week!
Stores around here have cut hours because they cannot fine enough employees to staff the store.
Sacramento, California closed our exchange😢😢
@Jerkasoid omg.. Minot Air Force base cut hours... When people leave they are not being replaced...maternity leave guarantees a job for two months after the 6 week leave.. But not the number of hours. What a day care nightmare.
I saw this quote on another YT channel and I think it's solidly on pulse:
"My company just let go 2k (15% of staff) employees yesterday, and we're relatively insulated as a payroll/workforce management company.
As much as they act like the economy is doing well it's clearly shrinking. And i think after the election you're really going to see the wheels finally come off as the narrative is no longer necessary."
As far as a furniture dealers go, believe me, if I need a couch or bedroom etc., I will find it. Bob's is not the only dealer. Why did they choose to close their doors? I don't know but, more importantly, I don't care. You see, as the saying goes, "I didn't share in your profits AND, I don't share in your loses either." That's the beauty of capitalism.
In the 1970s, new york city , former manufacturing powerhouse, had fallen into bankruptcy. Power blackouts and riots and endless crumbling buildings plagued the city. Then come the 1980s, we had higher payroll taxes imposed on boomers to pay ahead their retirements, and Reagan started borrowing from the SS trust fund to finance his wars, borrow and spend, also boomer IRA and 401k savings fueled by financial firms, stock market casino trading. The Dow back then was just 500 and suddenly started growing, seemingly forever, as 70 million boomers began saving for 40 years for their private retirements, while simultaneously paying much more into social security. The government drowned in money, and wall street drowned in money. New York rebuilt itself as a paperwork powerhouse, became a sex in the city playground for the rich rather than the nightmare ghetto it once was.
I totally agree with you Micheal. I believe there's going to be several more companies closing up for good. We need some one new for president that have creative that help the people keep their jobs and stop stimulus programs
I had with my brother a Restaurant, sold it last week after 6,5 years because the last half year we had NO revenue