Staff Reports
The retail industry, which had previously been formidable, suffered a severe setback in 2023, when chain after chain declared bankruptcy and shut down its locations quicker than "Black Friday deals." The cause? Preceding President Joe Biden's catastrophic economic policies are, as expected, high inflationary costs. As prices soared more rapidly than a Tesla in Ludicrous Mode, these formerly prosperous enterprises were compelled to cease operations or reduce expenditures to the point of a poor haircut.
Inflationary woes: More chain stores closed in 2023, continuing into 2024 https://t.co/ZWw6TpYb4q https://t.co/ZWw6TpYb4q
— Washington Examiner (@dcexaminer) January 23, 2024
Tuesday Morning, a discount retailer, ceased operations after nearly half a century, and Christmas Tree Shops, a home products chain, filed for bankruptcy and liquidated all of its locations. David's Bridal, the largest bridal-store chain in the United States, was forced to eliminate tens of thousands of jobs and discard its bouquet. Everyone, it is the retail catastrophe in the world!
Previously operating more than 700 stores in the United States, Sears has since reduced its presence to a mere 12 locations. Moreover, as if that were not an indication of the times, Foot Locker, a specialty athletic retailer, has declared that it will cease selling its shoes and shut down 400 locations in North America by 2026. Could someone please clarify whether "just buy your sneakers online already" is acceptable?
Pharmaceutical behemoths were not exempt from Biden's economic chaos. Walgreens and CVS were forced to close in order to conserve money. By 2026, CVS intended to shut down an astounding 900 locations, whereas Walgreens said goodbye to 450 stores. Indeed, it was a bitter pill to stomach!
Even fast food restaurants were not exempt. Both Boston Market and Pizza Hut ceased operations in multiple states, and Boston Market was even sued for unpaid wages. It appears that those poultry rotisseries were unable to maintain cash flow.
Furthermore, to make matters worse, the renowned department store Macy's has declared its intention to shut down five locations across the country and terminate 2,350 employees. Ouch! It appears that not even the red star can escape Biden's economic black hole.
Since Biden assumed office, inflation has skyrocketed, reaching levels not seen in four decades. In contrast to wages, which have decreased, the cost of everything has increased like a SpaceX rocket. The Heritage Foundation reports that real disposable income has decreased by 7.5%, the affordability of homeownership has decreased by more than 37%, and credit card debt has increased by more than 36%. It is horrifying!
The national debt surpassed $34 trillion for the first time in U.S. history amidst this anarchy. That is trillion, capitalized T.V. And considering the administration and Congress are accumulating a minimum $1.7 trillion deficit, it is safe to state that the U.S. economy is as unstable as a Jenga tower during an earthquake.
It is unsurprising that a mere 39% of probable U.S. voters harbor even the slightest favorable sentiment regarding Biden's presidency. It's fair to say that Uncle Sam is in for a turbulent ride, given the demise of businesses, the ephemeral nature of wallets, and an economy that is as unpredictable as Kim Kardashian's next hairpiece. Regards, Biden!
