Why the hype is so far from reality in our economy? Be positive. Yes, I understand that, but a pink slip is being sent everywhere. Hope springs with a new administration. Hey, I'm all for giving anyone a chance, but I like to see action not words to form a foundation to my hope. Why so glum, pal? The Dow is almost at 20,000 and rising. Yes, that is the root for my question.
If the Dow hits 20K, if the rally keeps on keeping on, if all goes as in the belief of where it is suppose to go in this hopeful plan, then explain to me this reality which exists:
* Theranos is laying off 41% of its workforce.
* Sears, the once king of retail, is on the brink of extinction.
* Macy's, who holds our attention every Thanksgiving with its parade, is closing over 100 stores and laying off 10,000 workers.
* Kohl's, is shedding 1,500 people and closing another 18 stores. This company is repeating the process that it began in 2014 = store closings and layoffs.
The last three companies are corporate giants who generally anchor our malls. These vacancies can kill a mall and cause a chain reaction of more store closings and unemployment.
* A litany of other small businesses and small chains that are added to our list, and yet, we never seem to see the impact of these results in the weekly unemployment claims? A small sampling includes:
* Best Buy
* Smoky Davis
* Miss Molly
* M and M Jewelers
* GameStop(this company started store closings in 2013, again in 2014 and again in 2015 with more in 2017.)
So, if Obama takes credit for a recovery from the crisis of 2008, then why all this grief? Consider this, if we are a consumer economy and the above is where we do our consuming, why do these companies see no future and so little hope? E-commerce, especially Amazon.
Don't lay that crap on me because e-commerce is barely 20% of all transactions. People shop in person and the figure represents 80% of all sales. Retail may not be the best job, but employment is better than unemployment. So, Dow 20K, explain that?