Category Archives: US Economy

Worst Restaurant Tailspin Since 2009/2010 Crushes Lower End

So another chain restaurant is “preparing” to bite the dust. Ignite Restaurant Group, which operates the Joe’s Crab Shack chain with 113 locations and the Brick House Tavern chain with 25 locations, and used to operate the Romano’s Macaroni Grill chain with 150 locations until it sold it in 2015, is preparing to file for bankruptcy, “people familiar with the matter” told Bloomberg.

In the quarter ended September 26, 2016, the last quarter for which the company bothered to release an earnings report, same-store sales fell 6.8%; total revenues plunged 10% to $120 million.

A liquidity problem turns into a solvency problem: It had $729,000 of cash and about $26 million of “available borrowing capacity under its current credit facility.” Not exactly a lot, considering that the company lost $15.2 million in Q3, up from a loss of $4 million in Q3 2015.

It had $179 million in liabilities, including $113 million in long-term debt. It shares, which had traded as high as $19 in 2013, have consistently trended lower since, became a penny stock last year, and are now just about worthless (2 cents).
For chain restaurants, it’s really tough out there.

Industry-wide, same-store foot traffic fell 3.3% in April year-over-year. For the past three months, traffic is down 3.9%. Same-store sales in April fell 1.0% are down 1.8% for the past three months, according to TDn2K’s Restaurant Industry Snapshot

Source: Worst Restaurant Tailspin Since 2009/2010 Crushes Lower End | Gold and Precious Metals

Visualizing America’s Retail Apocalypse | Zero Hedge

The steady rise of online retail sales should have surprised no one. As Visual Capitalist’s Jeff Desjardins notes, back in 2000, less than 1% of retail sales came from e-commerce. However, online sales have climbed each and every year since then, even through the Great Recession. By 2009, e-commerce made up about 4.0% of total retail sales, and today the latest number we have is 8.3%.

Here’s another knowledge bomb: it’s going to keep growing for the foreseeable future. Huge surprise, right?…

 

Source: Visualizing America’s Retail Apocalypse | Zero Hedge

The Coming Debt Reckoning | Zero Hedge

American workers, as a whole, are facing a disagreeable disorder.  Their debt burdens are increasing.  Their incomes are stagnating.

There are many reasons why.  In truth, it would take several large volumes to chronicle all of them.  But when you get down to the ‘lick log’ of it all, the disorder stems from decades of technocratic intervention that have stripped away any semblance of a free functioning, self-correcting economy.

The financial system circa 2017, and the economy that supports it, has been stretched to the breaking point.  Shortsighted fiscal and monetary policies have propagated it.  The result is a failing financial order that has become near intolerable for all but the gravy supping political class and their cronies.

Take consumer spending.  This is the primary driver of the U.S. economy.  Yet it requires vast amounts of credit.  In fact, American consumers presently hold $1 trillion in revolving credit.  At the same time, they have nowhere near the income needed to finance these debts, let alone pay them off.

Remember, the flipside of credit is debt.  Obviously, the divergence of increasing debt and stagnating incomes is a condition that cannot go on forever.  But it can go on much longer than any sensible person would consider possible.

Debt Slaves

If you haven’t noticed, the financial services industry is extremely accomplished at compelling people to go whole hog into debt.  Moreover, the entire fiat based financial system, which depends on ever increasing issuances of debt, hinges on it.  Just a slight contraction of credit, like late 2008, and the whole debt repayment structure breaks down.

On an individual basis, there are only so many credit cards that can be maxed out before the shell game ends.  Wolf Richter, of Wolf Street, recently clarified the relationship between the economy and deep consumer debt:

“The US economy is fueled by credit.  Americans turning themselves into debt slaves makes it tick.  Take it away, and what little growth there is – nearly zero in the first quarter – will dissipate into ambient air altogether.  So it’s time to take the pulse of our American debt slaves.

“In a new study, life insurer and financial services provider Northwestern Mutual found that 45 percent of Americans that have debt spend ‘up to half of their monthly income on debt repayment.’  Those are the true debt slaves.

“Excluding mortgage debt, Americans carry an average debt of $37,000.  Of them, 47 percent carry $25,000 or more, and more than 10 percent carry $100,000 or more in debt, excluding mortgage debt.

“Most of them expect to get out of debt before they die, but 14 percent expect to be in debt ‘for the rest of their lives.”’

Source: The Coming Debt Reckoning | Zero Hedge

DR WILLIAM MOUNT: Trump’s Got Stones – Protects 2nd Amendment

Standing up in front of the main Stream Media and an NRA Gathering in Atlanta President Trump clearly stated he will protect the 2nd Amendment as a right coming form GOD.

Without the right to Keep and Bear Arms – no other law matters. This and the freedom of speech, form the basis of any free society.

When the People fear the Government we have Tyranny – like we have today in America.

When the Government fears the people we have freedom.

The significance of this statement is this:

In 1871 Congress passed the Organic Constitution eliminating all rights given to us under the Constitution of 1783 if you Capitalize your name.

Thus: William Mount, WILLIAM MOUNT – represent corporations controlled by these Departments and Agencies and are registered as a Corporations at the Office of Registrar in DC.

Further – since you are not allowed access to your Corporate Moneys through the use of a 5444E or US Treasury Form 211- the system must now come down.

-william mount- is not a corporation and still a party to the original constitution an not subject to any Silly Laws Congress has passed since 1871 – but be careful.

President Trump is Chief Manager of the US Corporation – solely owned by the UN, which is owned by the Rothchilds. As the current Manager of this corporation he determines how to employ  the rules set under his charge – not Congress, not the Supreme Court.

If President Trump wished to over rule a “Judge” or arrest a “Judge” he has the right to do this.

Period.

So it appears that for the next 4 years we have the right to keep and bear arms – we hope…

Source: DR WILLIAM MOUNT: Trump’s Got Stones – Protects 2nd Amendment

X22Report Central Bankers Tricks Are Now Being Used Against Them to Bring the Economy Down – Episode 1263a


Report date: 04.25.2017

Consumer confidence stumbles and stock market soars.

J Crew letting 150 employees go.

Housing prices surge in the 20 bubble cities and new home sales surge according to the government.

Trump pushing for a corporate tax like Obama.

Trump budget for the wall won’t be a problem with the debt ceiling because he will wait until later this year to discuss.

Trump is borrowing and creating more bubbles, using the central banker’s trick to bring down the market.

All source links to the report can be found on the x22report.com site.

Source: X22Report Central Bankers Tricks Are Now Being Used Against Them to Bring the Economy Down – Episode 1263a | Politics

11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016 | Prepare for Change

By Michael Snyder,

There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year.  It is being projected that U.S. economic growth for the first quarter will be close to zero, thousands of retail stores are closing, factory output is falling, and restaurants and automakers have both fallen on very hard times.  As economic activity has slowed down, commercial and consumer bankruptcies are both rising at rates that we have not seen since the last financial crisis.  Everywhere you look there are echoes of 2008, and yet most people still seem to be in denial about what is happening.  The following are 11 facts that prove that the U.S. economy in 2017 is in far worse shape than it was in 2016…

#1 It is being projected that there will be more than 8,000 retail store closings in the United States in 2017, and that will far surpass the former peak of 6,163 store closings that we witnessed in 2008.

#2 The number of retailers that have filed for bankruptcy so far in 2017 has already surpassed the total for the entire year of 2016.

#3 So far in 2017, an astounding 49 million square feet of retail space has closed down in the United States.  At this pace, approximately 147 million square feet will be shut down by the end of the year, and that would absolutely shatter the all-time record of 115 million square feet that was shut down in 2001.

#4 The Atlanta Fed’s GDP Now model is projecting that U.S. economic growth for the first quarter of 2017 will come in at just 0.5 percent.  If that pace continues for the rest of the year, it will be the worst year for U.S. economic growth since the last recession.

#5 Restaurants are experiencing their toughest stretch since the last recession, and in March things continued to get even worse

Foot traffic at chain restaurants in March dropped 3.4% from a year ago. Menu prices couldn’t be increased enough to make up for it, and same-store sales fell 1.1%. The least bad region was the Western US, where sales inched up 1.2% year-over-year and traffic fell only 1.7%, according to TDn2K’s Restaurant Industry Snapshot. The worst was the NY-NJ Region, where sales plunged 4.6% and foot traffic 6.3%.

This comes after a dismal February, when foot traffic had dropped 5% year-over-year, and same-store sales 3.7%….

Source: 11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016 | Prepare for Change

‘Retail Bubble Has Now Burst’: Record 8,640 Stores Are Closing In 2017

Thousands of new doors opened and rents soared. This created a bubble, and like housing, that bubble has now burst.”

– Richard Hayne, Urban Outfitters CEO, March 2017

The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures.

While the shuttering of retail stores has been a frequent topic on this website, most recently in the context of the next “big short”, namely the ongoing deterioration in the mall REITs and associated Commercial Mortgage-Backed Securities and CDS, here is a stunning fact from Credit Suisse:“Barely a quarter into 2017, year-to-date retail store closings have already surpassed those of 2008.”

According to the Swiss bank’s calculations, on a unit basis, approximately 2,880 store closings were announced YTD, more than twice as many closings as the 1,153 announced during the same period last year. Historically, roughly 60% of store closure announcements occur in the first five months of the year. By extrapolating the year-to-date announcements, CS estimates that there could be more than 8,640 store closings this year, which will be higher than the historical 2008 peak of approximately 6,200 store closings, which suggests that for brick-and-mortar stores stores the current transition period is far worse than the depth of the credit crisis depression…

Source: ‘Retail Bubble Has Now Burst’: Record 8,640 Stores Are Closing In 2017 | Economy

US Restaurant Industry Suffers Worst Collapse Since 2009

What tentative hope had emerged for a rebound for the U.S. restaurant industry at the start of the year, was doused last month when in its February Restaurant Industry Snapshot, TDn2K found that “Restaurant Sales and Traffic Tumble in February” and reported that same-store sales fell -3.7% in February, with traffic declining -5.0% . It did however leave a possibility that things may turn around as a result of the prompt disbursement of withheld tax refunds in the month, which it suggested may have adversely affected sales and traffic.

Alas, that did not happen, and restaurant struggles continued in March as sales and traffic again declined year-over-year: same-store sales were down 1.1% while traffic dropped 3.4%. March results were disappointing for an industry desperately trying to reverse performance trends; with sales now negative in 11 out of the last 12 months, the longest stretch since the financial crisis. There was a modest improvement sequentially, however, and while still negative, sales improved by 2.5% points compared to February as traffic rose marginally by 1.6%.

Explaining the sequential “improvement”, Victor Fernandez, executive director of insights and knowledge for TDn2K, said “March sales were expected to be somewhat better than February due in part to the catch-up of tax refunds that were initially delayed in February. In addition, the industry likely benefited from the shift in the Easter holiday, which fell in March in 2016. For the largest segments (quick service and casual dining), this holiday represents a potential loss of sales.”…

Source: US Restaurant Industry Suffers Worst Collapse Since 2009 | Gold and Precious Metals

Trump Slams Media Again For ‘Fake News,’ Claims He ‘Inherited a Mess’ | Stillness in the Storm

(Aaron Kesel) President Donald Trump gave a special press conference on Thursday, where he bashed the mainstream media for producing ‘fake news’ and stated that he ‘inherited a mess’ from President Obama…

Source: Trump Slams Media Again For ‘Fake News,’ Claims He ‘Inherited a Mess’ | Stillness in the Storm

This Is One Of The Big Reasons Why So Many Families Are Feeling Extreme Financial Stress – Prepare for Change

(February 16, 2017 by Edward Morgan) When the cost of living rises faster than paychecks do year after year, eventually that becomes a very big problem.  For quite some time I have been writing about the shrinking middle class, and one of the biggest culprits is inflation.  Every month, tens of millions of American families struggle to pay the bills, and most of them don’t even understand the economic forces that are putting so much pressure on them.  The United States never had a persistent, ongoing problem with inflation until the debt-based Federal Reserve system was introduced in 1913.  Since that time, we have had non-stop inflation and the U.S. dollar has lost more than 98 percent of its value.  If our paychecks were increasing faster than inflation this wouldn’t be a problem, but in recent years this has definitely not been the case for most Americans…

Source: This Is One Of The Big Reasons Why So Many Families Are Feeling Extreme Financial Stress – Prepare for Change

Recession 2017? Things Are Happening That Usually Never Happen Unless A New Recession Is Beginning | Stillness in the Storm

(Michael Snyder) Is the U.S. economy about to get slammed by a major recession? According to Gallup, U.S. economic confidence has soared to the highest level ever recorded, but meanwhile a whole host of key economic indicators are absolutely screaming that a new recession is beginning. And if the U.S. economy does officially enter recession territory in 2017, it certainly won’t be a shock, because the truth is that we are well overdue for one. Donald Trump has inherited quite an economic mess from Barack Obama, and it was probably inevitable that we were headed for a significant economic downturn no matter who won the election…

Source: Recession 2017? Things Are Happening That Usually Never Happen Unless A New Recession Is Beginning | Stillness in the Storm

Jim Willie interview Part 1 & 2 Feb 2nd 2017

INTERVIEW WITH SILVER ANTIDOTE

February 3rd:  numerous wide ranging topics covered from over 20 questions, from both the host and his followers, in our first interview (in three parts) << 3 Parts)

Tax Cuts, New Jobs, Infrastructure Development Part of Trump’s Economic Platform — Sputnik International

The US presidential race has revealed the Republican Party’s Donald Trump as the winner who is expected to take up residence in the White House in January and who has presented several points on the agenda of his economic platform.

via Tax Cuts, New Jobs, Infrastructure Development Part of Trump’s Economic Platform — Sputnik International

DR WILLIAM MOUNT: Visual Proof!!! The Economy Is Tanking

Saturday, September 17, 2016

Here is visual proof the Economy is crashing

We see reports of all types –

We see Government Job Number reports

We see unemployment reports

We see reports from private companies

They are all manipulated

When we go out – when we go to the stores, the malls, and to work we see reality

So let’s talk about what is real

Deer season began on 15 September  of this year here in Washington state

This is the biggest hunting and camping store for 20 miles around in a city with over 200,000 people.

Continue reading DR WILLIAM MOUNT: Visual Proof!!! The Economy Is Tanking

4.5%? WHAT A JOKE! THE REAL U.S. UNEMPLOYMENT RATE WILL BLOW YOUR MIND – Prepare for Change

94,333,000 people are NOT in the labor force in the USA: America’s real unemployment rate is 29.5%  this is as high or higher than the 1929 “Great Depression”, as consequence of this there are 47,000,000 people now on food stamps!

Continue reading 4.5%? WHAT A JOKE! THE REAL U.S. UNEMPLOYMENT RATE WILL BLOW YOUR MIND – Prepare for Change

18 Years Later – Pam Martens Sends Another Warning To The Fed & The Clintons | Zero Hedge

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Below is the testimony of Pam Martens to the Federal Reserve on June 26, 1998, imploring it not to support the repeal of the Glass-Steagall Act and usher in an era where Wall Street banks like Citigroup could own both insured deposits at its commercial bank as well as engage in high risk trading at its investment bank

Tyler Durden's picture

It is the same players that we saw enabling reckless behavior in 1998: Citigroup, the Fed, and the Clinton-led Wall Street Democrats. And, as Jesse notes, here we are again, almost eighteen years later, watching the same short term, selfish characteristics by the big money banks putting the entire economy of productive individuals at risk again

“There’s something big and scary going on behind the scenes but, as usual, the public isn’t reading about it on the front pages of the newspapers.” Pam Martens and Russ Martens warn that big banks and big insurers send scary signals…

Yesterday, the broad stock market, as measured by the Standard and Poor’s 500 Index, declined a modest 0.29 percent while big Wall Street banks like Citigroup and JPMorgan Chase fell by triple that amount. Bank of America, which bought the big retail brokerage firm, Merrill Lynch, in the midst of the 2008 crash, fell by 8.6 times the rate of the decline in the S&P to give up 2.50 percent.

 

Equally noteworthy, two major insurers, MetLife and Prudential Financial, saw percentage market losses far in excess of the S&P. MetLife declined by 2.74 percent while Prudential Financial lost 1.68 percent. Prudential Financial has been named a Systemically Important Financial Institution (SIFI) by the Financial Stability Oversight Council. MetLife had received the same designation but won a court battle to rescind the designation. The U.S. government is appealing.

Continue reading 18 Years Later – Pam Martens Sends Another Warning To The Fed & The Clintons | Zero Hedge

DR WILLIAM MOUNT: End Game Panic – Be Ready- Cuss And Discuss

Friday, August 12, 2016

VIDEO:End Game Panic – Be Ready – Cuss And Discuss – YouTube

1) ALL WE HEAR IS BAD NEWS

…A) ECONOMY IS TANKING

NO JOBS

LAY OFFS

BUSINSESSES SHUTTING DOWN EVERYWHERE

FORECLOSURES ON HOUSES

IF YOU LIVE NEAR PHILLY THE BANKS ARE JUST SEIZING YOUR HOMES

Continue reading DR WILLIAM MOUNT: End Game Panic – Be Ready- Cuss And Discuss

Banker Bunker Mentality

jim willie

 

By: Jim Willie CB, GoldenJackass.com

Published: Sunday, 7 August 2016

The big US banks are dead, as in giant hollow reeds. Such has been the Jackass refrain for eight straight years. They are insolvent monsters and destroyers of wealth and capital. They are massive criminal enterprises. Events prove the case well. The Too Big to Fail policy has instead assured the wreckage and destruction of the USEconomy. Save the big banks, but ruin the capital base. The USGovt under the management of the banker cartel since the 9/11 event, which they orchestrated in a bold move, has systematically brought down the macro business sector, permitted the USDollar platforms to decay completely, and rigged the financial markets in every conceivable arena. The central bankers are running scared. The Jackass wishes they would all depart in exile, locate on a lovely Polynesian island, and eat each other, with the winners wearing their bones and teeth.

 

USTREASURY BOND BLACK HOLE SEWER

The growing fear about the global banking system has driven the 10-year USTreasury Bond yields to all-time record lows as a safe haven. Investors might perceive the powerful Western Economic recession, provided they are not of low intellect. The USTBond Black Hole is drawing capital from the US land mass and the global centers, just in time for the new currency launch with devaluation. The wealth loss will be magnficent for all the dopey clumsy mindless investors who believed the bond market offered safe haven. No security can be offered by a bond market with almost no legitimate buyers, an annual $1 trillion deficit (huge supply), and deep dependence upon the Interest Rate Swap derivative contract which produces artificial bond demand at zero cost. The free ride comes as a result of the Zero Interest Rate Policy, which will never change. The entire bond market depends upon it. The truly remarkable fact is that millions of investors believe the USTBond market is a safe haven. Let Darwin do his work, and remove them from the scene, along with their wealth, which is mostly phony anyway.

Continue reading Banker Bunker Mentality

The Price Of Oil Is Crashing Again, And That Is Very, Very Bad News For The U.S. Economy | Stillness in the Storm

Thursday, August 4, 2016 by Michael Snyder

This wasn’t supposed to happen. The price of oil was supposed to start going back up, and this would have brought much needed relief to economically-depressed areas of North America that are heavily dependent on the energy industry. Instead, the price of oil is crashing again, and that is really bad news for a U.S. economy that is already mired in the worst “recovery” since 1949. On Monday, U.S. oil was down almost four percent, and for a brief time it actually fell below 40 dollars a barrel. Overall, the price of oil has fallen a staggering 21 percent since June 8th. In less than two months, the “oil rally” that so many were pinning their hopes on has been totally wiped out, and if the price of oil continues to stay this low it is going to have very seriously implications for our economy moving forward.

One of the big reasons why the price of oil has been declining is because the OPEC nations continue to pump oil at very high levels. The following comes from CNBC

Continue reading The Price Of Oil Is Crashing Again, And That Is Very, Very Bad News For The U.S. Economy | Stillness in the Storm

How Much Do Shady Financial Practices Cost Us? Try $22.7 Trillion

THU, 7/28/2016 – BY LYNN PARRAMORE

America’s financial system is broken for all but a few at the top — that much is plain. The rest sense that we are stuck on the minus end of some great financial formula, but given the complexity and size of Big Finance, it’s hard to pin down exactly why it happens and how it all adds up.

Enter economist Gerald Epstein of the University of Massachusetts, Amherst. He has dived in and crunched the numbers, and the results are eye-popping. Epstein and his colleague Juan Antonio Montecino look at exactly how families, taxpayers and businesses get ripped off by dubious financial activities and tally up the costs in a new paper for the Roosevelt Institute, “Overcharged: The High Cost of Finance.”(The Institute for New Economic Thinking has also supported several papers by Epstein).

Continue reading How Much Do Shady Financial Practices Cost Us? Try $22.7 Trillion

Dr. Jim Willie and the Systematic Bankruptcy of Western Society (Video) | Politics

Tuesday, July 26, 2016 18:08

 In the following interview, Dr. Jim Willie joins TrueNews to give his analysis, and offer his insight into what is happening with the global financial system. As usual, it’s not a message of hope, but it is a message of truth. To no one’s surprise I’m sure, Dr. Willie explains that the economic numbers being provided by the Obama administration aren’t just false, it’s downright tragic how bad the administration is lying. Perhaps the number that will shock people the most, is when Dr. Willie suggests the U.S. has been in recession ever since the Lehman Brothers collapse, and since that time, the U.S. has REALLY averaged -5% growth each year. 

Continue reading Dr. Jim Willie and the Systematic Bankruptcy of Western Society (Video) | Politics

DR WILLIAM MOUNT: GERMANY PLANS RUSSIAN INVASION WHILE DNC UNWINDS

Monday, July 25, 2016

Video: German Plans to Invade Russia While DNC Wnwinds – YouTube

This is correct – and allot to swallow this morning

German plans to Invade Russia in August were leaked last month to the Russia Security Services and the Russian Leadership is very upset

After World War 2 the US President signed into law the Marshall Plan. This plan was to use US Tax Payer’s Dollars to rebuild Europe after the war.

John Kerry #1 – US Secretary of State – stated about a year ago that the US Marshal Plan is still paying huge amounts to Germany – the Marshal Plan was never ended for Germany – this is why their economy was booming while every other economy was stagnant we did a video on it.

Continue reading DR WILLIAM MOUNT: GERMANY PLANS RUSSIAN INVASION WHILE DNC UNWINDS