Please, Explain to Me

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

* Kmart

* 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? 

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mongothepillager (not verified)

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Your praise for Obama has caused you to take a big hit in the credibility department!!! If Obama is so knowledgeable concerning constitutional law then why did he spend so much of his presidency ignoring it,he,s better suited to Sharia law!Racea relations,he caused more hate and division than the Klan or others could have hoped for.and as for the economy? It's like one man said(there's plenty of jobs out there,I work 3 of them and get in almost 30 hours a week)
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mongothepillager (not verified)

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Your praise for Obama has caused you to take a big hit in the credibility department!!! If Obama is so knowledgeable concerning constitutional law then why did he spend so much of his presidency ignoring it,he,s better suited to Sharia law!Racea relations,he caused more hate and division than the Klan or others could have hoped for.and as for the economy? It's like one man said(there's plenty of jobs out there,I work 3 of them and get in almost 30 hours a week)
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mongothepillager (not verified)

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Sorry for the repost,your site does not like my tablet and just FYI I was aiming my comments at Mr. K
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Auntie Vyris (not verified)

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Not sure why Sebastian used Theranos as an example. It was several months ago that Theranos was essentially outed as Wall Street snake-oil. A hot CEO does not a viable product make. And really, she's maybe a 7. Sears and Macy's and JCP and many destination-shopping dinosaurs have been floundering for several years, occasionally bolstered by some weak initiative with which they still haven't been able to hurdle the Amazon wall. I like those destinations but they aren't convenient. I can't help but think these old-guard brick-n-mortar stores will continue downsizing even in the best economy. Sebastian refers to the beleaguered shopping malls getting beat up in the same fight as their anchors and he's right. Side note: If shopping malls start banning teens unless babysat, then you can kiss the malls adios. If the mall rats keep up their stupidity the same thing will happen. My 4¢
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Soren K.

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agreed, most of the businesses are not cutting edge news. But the intended audience may not have been people like ourselves. Brand recognition goes along way in making a point to people who may not have put the pieces together yet. look at those names. Its a list of america's backbone. And like US Steel before them, they are gone. So is Amazon the replacement for corporate diversity in retail? U.S. Economic and business diversity is shrinking is my takeaway from it all.
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Anonymous (not verified)

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yes he should be bashed upside the head !!! [ Edit- Taking this as sarcasm, if not you are in the wrong place- Soren K.]
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Anonymous (not verified)

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Is this 'article' just a ploy to bash Obama? Sure reads like it!
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Soren K.

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No, The author is a bonafide analyst. And Obama has been getting alot of kudos for "70 months of job improvement" as recently as Friday. So any reaction that challenges his farewell press tour is in fact current events and fair game. Obama IMHO did a lot fo good as POTUS, but it was not on the economic side. His acumen in this area is not good. In fact his knowledge of constitutional law is the best around, and he managed to use that knowledge to invert the bond structure in the GM and Chrysler disasters. Both O and W combined reinforced the "strong presidency" in areas they chose to push using crises as opportunities for legislative land grabs.