Target Stores Announce Many Closures..or "How to Squeeze Middle Class to Your Own Fiscal Death"

[candycorn]

I thought that closing big box stores helps the mom and pop industry? Why do liberals try to have it both ways?

332-206...only one way to look at it.

Look who got back from a fork run. BTW, first response trolling completely off topic? That's sad even for you.

Just rubbing your nose in it (again).

I was here on post 31...so gee, you're wrong again (imagine our collective shock).

 

[Toro]

Ignorant OP.

Target's problems are that they fucked up their merchandising.

Yeah, keep telling yourself that.

Of course it could be the dwindling consuming power of the unemployed...nah...couldn't be THAT..

Consumer confidence is rising. Consumption spending is rising. The economy is getting better.

The retail industry's problems are structural. For 20 years, retail square footage grew faster than spending, which was untentable in the long run. Then, along came the Internet which started to eat away at bricks and mortar sales. That led to overcapacity and inevitable store closures. This has been an issue for years.

Target's problems are well known. Target was known as an innovative retailer, offering quality and interesting products at reasonable prices. But they promoted a guy to CEO who focused on cost-cutting, and they wound up diminishing their inventory and damaging their brand.

 

[Silhouette]

Consumer confidence is rising. Consumption spending is rising. The economy is getting better.

The retail industry's problems are structural....

I have a friend who works at a bank dealing mainly with business owners. She says every single one of them is on the brink financially. They aren't supposed to tell people that. So I am.

You are correct in that all industry's problem is structural. It is a structure built around escalating profits at the expense of labor. When enough people worship at this throne of self-indulgence and amorality in the church of malignant capitalism, what happens is the dragon devouring itself silently finally reaches the last scale on the end of its tail.

There are warning signs. Target is one of them. The Target store in our area is one of the most constantly populated stores. I've seen many of them and the parking lots are always full. So this is something else. It may be the typical greed at the top saying "I can't buy as many yachts as I used to because we have to start paying employees better. So instead of just tightening their belt and eating less caviar, the top 1% fires hundreds of employees who will have nowhere else to go in a job market with throngs of people applying for every low-wage grunt job that opens up part time.

You get enough industry doing this (which they are) and you will kill this nation. It is in the foreseeable future.

I sometimes wonder that if another nation was eager to bring this one to its knees financially, that they wouldn't have posters online scoffing at threads like these that expose what's actually going on. My friend at the bank knows. She sees it every day. Target isn't the only one in trouble. When you remove the jobs and good wages from the working poor, you can have all the consumer confidence you want. Heck I could go into a store super confident. But if I don't have any money in my wallet, I'll just walk out empty handed...but confident!

The reason our economic recovery is so slow isn't due to lack of effort like the poster I quoted above in "spinning the truth" to "spur consumer confidence". It's from sheer mathematics. A country that allows industry to continually gut its middle class in this way, is a country committing suicide

 

[Roadrunner]

I thought that closing big box stores helps the mom and pop industry? Why do liberals try to have it both ways?

Closure of the big chains will leave the poor areas in the hands of Muslim moms and pops.

Travel the rural roads of America, and see who is buying up little stores.

 

[boilermaker55]

Mr, Fool, yes you, where did you get the evidence that I voted for any such thing.
FOOL!

The one that makes you look foolish!

More foolish than you having voted for the bail out of white collar criminals you're complaining about?

 

[boilermaker55]

au contraire

Tell us who screwed who in the banking debacle and who made money!
What business school did you go to....?

Soooooo, Target is losing money in this current market, had a major hacking breach and lost thousands of customers because of it, expanded too rapidly into the Canadian market and is losing money big time there and they need to close stores....... And it's only because the rich want to screw over the poor....... Tell me again which business school you went to.......

Non sequitur

 

[boilermaker55]

To you also, where can you find evidence of me voting for anyone you are referring too.

Tell us who screwed who in the banking debacle and who made money!
What business school did you go to....?

Soooooo, Target is losing money in this current market, had a major hacking breach and lost thousands of customers because of it, expanded too rapidly into the Canadian market and is losing money big time there and they need to close stores....... And it's only because the rich want to screw over the poor....... Tell me again which business school you went to.......

the politicians you elected

 

[Papageorgio]

I'm sorry, where did you go to school? The Karl Marx Occupy Wall Street school of "Business"?
I like your "nogo", how does it feel being a cyber terrorist?

No, there is a happy medium between communism and malignant capitalism. Canada for example, allows mechanized industry, but it must have a certain percentage of the jobs to human beings. Apparently they learned in kindergarten that if you squeeze the middle class into beggars, then nobody buys your products. Robots don't buy products. Who do you sell your cars to if nobody has a job?

This isn't rocket science.

Sane capitalism recognizes who its customers are and how they get their money to buy the products the business produces.

So do you support Target? I don't, my wife likes them, I like mom and pop shops, I pay more but I am keeping the money nearby.

 

[TooTall]

Ignorant OP.

Target's problems are that they fucked up their merchandising.

Yeah, keep telling yourself that.

Of course it could be the dwindling consuming power of the unemployed...nah...couldn't be THAT..

I don't know what the UE rate is in Canada, but it is about 5.6% in the US.

 

[Lovebears65]

I hope ours doesnt close I love Target and hate Walmart

 

[Silhouette]

So do you support Target? I don't, my wife likes them, I like mom and pop shops, I pay more but I am keeping the money nearby.

I see where your logic is going here. However, most of the businesses my bank-friend says are tanking while these big chains also go under or "cut back so the 1% can still live the life they're accustomed to" are the smaller mom and pop stores. This isn't a reorganization of the economy. It's the death of it to everyone..

You can only hold 99% of the wealth at the top 1% for so long before the beast falls to its knees, never to rise again..

 

[LogikAndReazon]

Attention All Comrades....Workers of the World Unite !!!!!

 

[Silhouette]

Attention All Comrades....Workers of the World Unite !!!!!

Once again, false conclusion. And, you're an idiot.

Suggesting you remove the malignancy from capitalism doesn't mean you abandon capitalism and innovation/personal freedoms. It means you simply regulate RAMPANT and obvious greed. There will be a mathematical formula that shows where industry cannot proceed further without harm even to itself (squeezing the middle class too hard). So ironically and in defiance of your kneejerk comment above, the longer you let malignant capitalism grow unchecked, the more likely a revolution will produce a socialist or even communist state.

Look at your history books for examples. There are there time and time again. It's almost redundant this inevitability.

I like capitalism very much. It is for this reason I suggest putting a halter on that pony so it cannot run itself to death.

 

[Siete]

Target to shutter all stores in Canada

Karma for stealing American dirt and building the last leg of a pipeline.

 

[LogikAndReazon]

Workers Co-Operatives , People Before Profits !!!

Civil servant over regulation, for growth !!!! Lol

 

[TheGreatGatsby]

I thought that closing big box stores helps the mom and pop industry? Why do liberals try to have it both ways?

332-206...only one way to look at it.

Look who got back from a fork run. BTW, first response trolling completely off topic? That's sad even for you.

Just rubbing your nose in it (again).

I was here on post 31...so gee, you're wrong again (imagine our collective shock).

It's called trolling, dude....Consider that my public service announcement for the day. And if you come back with more lameness, don't expect a response.

 

[CrusaderFrank]

Robots build cars, but robots don't buy cars, therefore Liberals are fucking morons

 

[Dad2three]

Wait, just yesterday you libs were telling us how awesome the Obama economy is.

In comparison to Dubya/GOP's 'job creator' economy? lol

 

[Dad2three]

I'm sorry, where did you go to school? The Karl Marx Occupy Wall Street school of "Business"?
I like your "nogo", how does it feel being a cyber terrorist?

No, there is a happy medium between communism and malignant capitalism. Canada for example, allows mechanized industry, but it must have a certain percentage of the jobs to human beings. Apparently they learned in kindergarten that if you squeeze the middle class into beggars, then nobody buys your products. Robots don't buy products. Who do you sell your cars to if nobody has a job?

This isn't rocket science.

Sane capitalism recognizes who its customers are and how they get their money to buy the products the business produces.

Socialism, well managed, is the best deterrent to communism.

Good luck finding it or any other man made economic system well managed.........

The US did pretty well post WW2 to 1980. Most of old Europe does well too. Weird it's when unfettered capitalism, or as close as it has come to it, is tried, there are only a few winners, kinda like the game monopoly?

 

[Dad2three]

Tell us who screwed who in the banking debacle and who made money!
What business school did you go to....?

Soooooo, Target is losing money in this current market, had a major hacking breach and lost thousands of customers because of it, expanded too rapidly into the Canadian market and is losing money big time there and they need to close stores....... And it's only because the rich want to screw over the poor....... Tell me again which business school you went to.......

the politicians you elected

"the politicians you elected"

Conservatives just ignore facts and reality.


IF you mean Dubya ignoring the REGULATOR warnings and cheering on the Banksters, you'd be correct

FACTS on Dubya s great recession US Message Board - Political Discussion Forum

http://www.ritholtz.com/blog/2011/1...ow-the-facts-of-the-economic-crisis-stack-up/
http://www.ritholtz.com/blog/2011/1...ow-the-facts-of-the-economic-crisis-stack-up/
http://www.ritholtz.com/blog/2011/1...ow-the-facts-of-the-economic-crisis-stack-up/
Examining the big lie: How the facts of the economic crisis stack up


When an economy booms or busts, money gets misspent, assets rise in prices, fortunes are made. Out of all that comes a set of easy-to-discern facts.

Here are key things we know based on data. Together, they present a series of tough hurdles for the big lie proponents.

•The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.

Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.


Private lenders not subject to congressional regulations collapsed lending standards