General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWe are heading for a depression or recession.
Stores closing or announcing closing in 2026:
IKEA; Saks Off 5th; Neiman Marcus; Macy's (shutting 150 stores): Kroger (Food for Less); 711; Wendy's; Pizza Hut; Apple; Walgreens; CVS; Dollar Tree; Family Dollar; Dollar General; Big Lots; Best Buy; Bed Bath and Beyond; Party City; Footlocker/Kids Foot Locker; Champs Sports; The Gap; Banana Republic; Old Navy; JC Penney's; Nordstroms; Kohls; Burlington; Ross; TJ Maxx; Marshalls; HomeGoods; GameStop; Office Depot/ OfficeMax; Staples; Starbucks; Subway; TGI Friday; Red Lobster; Dennys; IHOP; Buffalo Wild Wings; Chilis; Applebees; Olive Garden; Stanley Black and Decker plant in Connecticut laying off 300 have all so far announced store closures for 2026.
This means thousands and thousands more people will be laid off while consumer spending has dropped for 14 straight months. Consumer spending drives 68% of the economy/GDP.
Please do the best that you can to get your finances in order. Do not spend money!
https://www.instagram.com/reel/DYIUb1YBMoK/?igsh=Z3d1NzlsamR0dWx6
Dave Bowman
(7,405 posts)Initech
(109,193 posts)The billionaires and Wall Street are stealing all of our money. We don't regulate any business. And the fuckhead in charge certainly isn't helping.
Johonny
(26,540 posts)It feels like a matter of when, not if. The only question is what topples with it when the correction comes.
Initech
(109,193 posts)The rich will get to jet off to their little utopias, while the rest of us will be left to fight for what's left of the scraps. Of course, all of this has been greatly accelerated under Fuckhead 2.0.
usonian
(26,468 posts)All I can guess is that it's to cause panic/uprisings, and (of course) trigger emergency powers.
Putin seems to have been fomenting this for a long time, "day one" as we say, back in 2015 or so.
Made my analysis a while back. Might need some fine-tuning, and perhaps a bit more emphasis on "who has the videos?" from the dabauchery of the Trump-Epstein sex, blackmail and money-laundering empire.
https://www.democraticunderground.com/100220295160
Dictators arise in chaos. He's the "master" of chaos.

or KAOS.
meadowlander
(5,152 posts)There's no great global conspiracy, There's just a lot of stupid selfish people looking after number one. The only solutions are:
1. make them be less selfish and stupid (hard) or
2. get together to back strong institutions that expose and disincentivise stupidity and selfishness (easier).
usonian
(26,468 posts)Putin, Xi, Kim, Netanyahu, The musical chairs of Hamas ... have exhibited extreme cruelty.
To our great disgrace, Trump is emulating them, but he is incompetent in the extreme.
I really think that people worldwide have to raise the bar, demanding leaders of real merit.
But they are drawn like flies to racisim, xenophobia ... you know the list ... and they get played
I am sure that there have been many wannabe tyrants, but they just didn't have the backing of enough suckers to be played, or like Jim Jones, had a relatively small (but still too large) following.
There are tipping points in these chaotic systems.
I'll skip a philosophical discussion. Buddhism basically says that ignorance is the root cause , but as I noted, it's up to the many to have high standards and thereby to form a block on runaway poisons.
One doesn't take power without some assent, except, I suppose, through extreme force alone, and I don't doubt that the evil operators behind the scenes are contemplating that.
DFW
(60,398 posts)IF (big if) you are able to afford it, and your purchases are not frivolous, DO spend money.
The workers whose jobs depend on those stores staying open say thanks! in advance. Pay cash or by check if its at all convenient, so that the credit card companies dont siphon off 4% from what the store really takes in.
For the last 800 years or so, there has been an open air market in our town square, where local farmers, small food merchants, etc. set up three times a week. We buy there when we can. There is even a local baker who attaches a huge multi-level bread-baking oven to a pickup, drives it onto the square, and sells freshly-baked loaves of bread and breakfast rolls right out of the oven. The aroma is seductive (betcha Peppridge Faahm doesnt remembah that). The people of our small town crowd the market in all kinds of weather. Its not always cheap, but it IS always fresh, and it keeps the tradition (and the farmers) from dying out.
live love laugh
(16,460 posts)Economic stimulus counters collapse but stimulus requires cash.
Happy Hoosier
(9,601 posts)DFW
(60,398 posts)I don't recall urging a second mortgage in order to be able to afford a Big Mac. Like Karl Marx wrote, "from each, according to his ability...."
live love laugh
(16,460 posts)Blue Dotty
(190 posts)Response to live love laugh (Original post)
Name removed Message auto-removed
wnylib
(26,397 posts)Some are restructuring. And not necessarily via chapter 11. 7/11 is closing several low performing stores, but not goibg out of business. They are planning newer, smaller stores.
Family Dollar is closing several stores fur the same reason, but is not going out of business. New, smaller stores again.
Dollar General is closing a small number compared to the other 2 companies and is expanding.
.
The closings will hurt the employees and their families and communities at locations that are shutting down. But those companies are not going out of busines
LymphocyteLover
(10,089 posts)some sort of financial crash.
Right now a lot of the economy is propped up on AI and building data centers, seems like.
ProfessorGAC
(77,195 posts). .of Depression?
Since when.
TheProle
(4,065 posts)ProfessorGAC
(77,195 posts)I doubt the OP would have thought those 4 years were indicative of depression.
Renew Deal
(85,321 posts)IKEA is not going out of business. Neither are any others in that list.
Johnny2X2X
(24,399 posts)Now it is down and slumping, but I couldn't find evidence it has dropped 14 straight months. But consumer sentiment is at all time lows and that effects spending significantly.
Joe Biden built the best economy for working people in my lifetime (born in early 70s). The media crapped all over it so much that even most democrats don't know how good it was. Joe Biden actually created conditions in the US where the bottom 50% saw more gains than the top 10% both in real dollars and as a % of net worth.
The media hated Biden, think about Jobs Reports
Actual headlines from some of Biden's job reports vs for Trump's latest:
"November Jobs Report Is Another Big Miss For Joe Biden" Added 210,000 jobs November 2021.
"the actual number came in at a dismal 266,000" April of 2021
"Another big miss for Biden on jobs." January of 2022 when we added 466,000 jobs.
Actual headline from Trump's latest job report.
"The Blockbuster jobs report showing we added 115,000 jobs."
That's what we're up against, the corporate media who has an agenda that is anti worker and anti middle class.
roamer65
(37,974 posts)Little did they know what was coming.