Economics & The Economy
- After Ruining America, the Era of Giant Chain Stores Is Over | Alternet
The coming implosion of big box retail implies tremendous opportunities for young people to make a livelihood in the imperative rebuilding of local economies.Global currency wars (competitive devaluations) are about to destroy trade relationships. Say goodbye to the 12,000 mile supply chain from Guangzhou to Hackensack. Say goodbye to the growth financing model in which it becomes necessary to open dozens of new stores every year to keep the credit revolving.
Then there is the matter of the American customers themselves. The WalMart shoppers are exactly the demographic that is getting squashed in the contraction of this phony-baloney corporate buccaneer parasite revolving credit crony capital economy. Unlike the Federal Reserve, WalMart shoppers can’t print their own money, and they can’t bundle their MasterCard and Visa debts into CDOs to be fobbed off on Scandinavian pension funds for quick profits.
They have only one real choice: buy less stuff, especially the stuff of leisure, comfort, and convenience….