Every Day Stores Closing And Housing Market Cratering--Is This Indicative Of An Upcoming Economic Crater?

From SurvivalJoe.net

Survival Joe | Economics • Predictions

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Economic Collapse 2.0 Has Started and These Facts Prove It

Are we about to enter yet another economic collapse? All of the facts currently say yes.

To get a clearer picture of what the facts are saying, let’s focus on two major indicators of economic health: retail and housing.

Contrary to what mainstream media spin would have you believe, home sales numbers have cratered from the beginning of this year. And they’ve not rebounded. It’s not just a winter sales slump.

What’s more, the recent housing boom was driven by foreigners and Wall Street. Elite banksters are flush with cash from the economic improvers over at the Federal Reserve who are practically handing them money.

And because nobody can get a return on traditional bonds (who wants to clip coupons and eat dog food while earning a paltry 1.25% interest?), Wall Street has been gobbling up houses as rental investment properties.

In fact, it’s estimated that over half of all housing sales went to “hot money” buyers. And now that home prices have soared, the hot money has pulled back and stopped buying.

But they’re desperate to keep the party going. Even sub-prime lender Ditech has risen from the grave to pump out mortgages for people who can’t afford to buy.

Retail sales have sunk into the toilet. Almighty Walmart has stores stuffed with leftover CHRISTMAS inventory.

Retail titans like Sears, Target, and KMart have shuttered stores. One chain folding stores can be chalked up to bad management… three is a disturbing trend.

And more vacant stores and ghost town malls are probably on the way.

Just now, pet supply chain store PetSmart missed earnings. After the announcement, the stock tanked 8.3% in one day.

Even Family Dollar stores are having it tough with slow-moving inventory.

And these are not high-falutin’ businesses catering to snobby rich people.

These stores are for everyday essential items… bread and butter shopping for millions and millions of people.

When companies like these are desperate to slash employees and close stores, it proves that everyday folks just don’t have any money. The next economic collapse can’t be far behind.