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Here Comes Jackass Cottontail

It's a holiday weekend. You know what that means...

36

What's a holiday weekend at TFMR without a visit with our old friend, The Golden Jackass himself, Jim Willie.

Over the course of this call, we primarily update a few of the recurring themes we've been following for the past few years, namely...

  • Ongoing de-dollarization
  • The impact of the OBOR project
  • How the petrodollar and "trade-deficit dollar" support The Great Ponzi...
  • which all leads us to...
  • Why The Fed is permanently on a course of IQEF -- Infinite QE Forever

Please be sure to carve out some time for this audio over the weekend. It's only about 45 minutes so it's on point and focused. You'll be glad you gave it a listen.

TF

  36 Comments

Silverhog
Apr 22, 2019 - 7:24am

Huh?

Wow, dollar is up and the metals are up? Strange start to this week.

canary
Apr 22, 2019 - 9:19am

Chuck Butler (Daily Pfennig)

If the U.S. economy is in good shape, why have retailers already shuttered more stores than they did in all of 2018? Not only that, we are also on pace to absolutely shatter the all-time record for store closures in a single year by more than 50 percent.

Yes, Internet commerce is growing, but the Internet has been around for several decades now. It isn’t as if this threat just suddenly materialized.

As Internet commerce continues to slowly expand, we would expect to see a steady drip of brick and mortar stores close, but instead what we are witnessing is an avalanche. If the U.S. economy really was “booming”, this wouldn’t be happening. But if the U.S. economy was heading into a recession, this is precisely what we would expect to see.

Last year, U.S. retailers closed 5,864 stores.

That was a rather depressing number, but here we are in April 2019 and we have already surpassed it. The following comes from CNN…

This year, US retailers have announced that 5,994 stores will close. That number already exceeds last year’s total of 5,864 closure announcements, according to a recent report from Coresight Research.

Once again, you can’t blame this on Internet commerce. Foot traffic was rising for quite a while, but now what we are seeing is perfectly consistent with an economic slowdown.

Sadly, this could be just the beginning. In fact, one expert quoted by CNBC expects total store closures in the U.S. to hit 12,000 by the end of 2019…

“I expect store closures to accelerate in 2019, hitting some 12,000 by year end,” Deborah Weinswig, founder and CEO of Coresight, said.

If that happens, we will shatter the old yearly record by about 4,000.

We are in the early innings of America’s “retail apocalypse”, and it is going to get much, much worse.”


Apr 22, 2019 - 9:36am
Sound Money Minnow Boggs
Apr 22, 2019 - 9:37am

Boggs thank you

That was a message I needed to hear also Boggs. I am grateful that you posted it. Will pass it on to my wife. I needed it more than she does. Being a Christian doesn't mean we stop the fight for faith. It begins with our own heart each day. Don't worry, fight for faith. I love that message.

lakedweller2
Apr 22, 2019 - 10:32am

Another Week

And only markets for insiders.

lakedweller2
Apr 22, 2019 - 10:39am

Presidential Candidates

Beefing up their platforms to take on President Dimon.

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Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

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