Meanwhile USA supermarts are closing like nobody's business. Some of the biggies like Walmart, Sears, BHG and other biggies we have seldom heard of over here, are closing stores by the hundreds, having lost millions over the years. How many employees are being laid off is up to you to imagine. Of course, that also means more job creations in other lower paid jobs, take it or leave it. Job creation is glowingly reported but job attrition goes under the radar.
The job market in USA is still interpreted as very strong. Yeah, the USA economy is also strong, but in the next breath they pricked the balloon, saying there are also strong headwinds. This is always the same old narrative. Very strong going forward but there may be signs of slowing they will tell you. What are they saying? Basically nothing, but bullshiting.
All these store closures are the result of online shopping. Now, where do those products on online platforms come from? Mostly from China of course. The USA mainland produces nothing that their citizens need, except if they want guns, which are plentiful, and tanks and fighter jets. Even tanks are not being produced in numbers large enough to supply to Ukraine. Wait a year or two they promised Zelenskyy.
Consumers have now found out during COVID19 and subsequent lockdowns that much cheaper things can be bought online. Shein, for example, is also discreetly taking the market by storm, and together with others, are cannibalising the business of the conventional shopping outlets and malls. Without the high rentals necessary for a cool presence in malls, they are able to offer products that are so much cheaper, such that you honestly cannot think twice about buying. That is why the USA Government is cracking down on those Chinese online business platforms, with fabricated claims about the dangers of Chinese products. Everything is capable of spying on them and must be demonised. They are also posing competition to Amazon.
The USA will regret what they wish for, if Chinese companies do take up the de-coupling narrative and move out of the USA, providing only online shopping presence in the USA. After all, this is the de factor modus operandi of Chinese businesses selling their products for years already. They have even been providing regular customers with updates on new products via their mobile phones. Such is the ease of doing business today.
Here in Red Dot, they can reinvent all they want with those shops in Orchard Road with what they claim 'new shopping experience', but it is not going to improve the shopping environment. It will only result in even higher rentals that will eventually drive those tenants out of business for good.
Anonymous
Good morning All
ReplyDeleteHere in Red Dot today's Front Page Sinkies using and spending more on Credit Cards.
This is the sign of Pok Pok Pok liao!
They still saying aiya Manganable lah, don't worry.
Still want to buy 100K piece of paper of your car?
Opps forgot these are for the super wealthy from China and India to trickle down their wealth onto the Sinkies.
Wealth or their shuts?
So many condo Swcerty Old Uncles guards kena hantamed.
Also abusive you know how many units I owned here you dared find troubles with me.
Also another one how dared you wanted to charge my friends $`0.00 for overnight parking when I owned a million dollar condom here?
Actually I on mortgage lah and needed even yo save a miserable $10.00 to pay my condom mortgage. Mr car's mortgage and also my insurance and petrol lah.
That's why I have even last time don't put coupons and try to save even a few dollars parking in your stupid HDB'S estates.
But your damn Papies very smart employed those think tank slaughters just everyday think tanks on how to slaughter sinkies in our own homeland as this is only our internal economy lah.
But now seemed so many aiyo like Hokkien say "Mmm.chai see" and Cantonese say "May Sek Kor" all thought they still "Tua Yas" signing signing their credit cards.
Oops boh piang they have to keep signing as real cash dry up lah.
Later then pah sng.
That's is Later than see how.
That's the mirage of Sinkies without an external economy of earning foreign exchanges and the Papies only knew how to suck own as only internal economy.
Aiya never mind lah just bring in.the thousands and have them purchase our condoms and BTOs at our cut throats prices and then we will have billions in our Tresury.
Paid 100 over K for COE and if drive Mercedes or Bravia can also knocked down Screwerty Guards who dared want to kwa lan with you.
ReplyDeleteNo see I drove 200 or 300K cars ah?
Also if have status in Sinkekand Society can made police reports against those peasants and the investigators would definitely believed you more than that peasants.
Sure win one.
Now Sinkieland Society worse than the South Koreans Chabeos who trampled on their peasants as their Government kowtowed to them as they are the Prime Movers of the Country's economy.
BS DemoCrazy vs Authoritian Socialist Communist Country where even in China, the government screwed the Wealthy like Jack Ma who thought that they could be like Koreans Chabeos.
Perhaps this trend in US would go global:
ReplyDeletehttps://www.youtube.com/watch?v=L5C2qLPm5VI
Mass shoplifting anyone??
The whole world is thriving on debt. Everything is tied to debt to sustain the kind of lifestyle, rich or poor without exception. The biggest banks cannot fail, or else the whole house of cards will collapse. They are said to be too big to fail for a reason, because the house of cards is built on the fractional banking system of creating the illusion of wealth. Banks can lend out ten times what they take in in deposits, so wealth is all a matter of multiplying the amount of money floating around.
ReplyDeleteMarvel at those shining new cars with latest number plates. Behind the feel good and having arrived at egoistic pretence, is the debt owed to the financing entities. Others are envious just seeing the surface of the wealth, but hidden behind are the debts, and not to mention the student loans, credit card debts that are needed to fuel the lifestyles like the rich and famous.
According to sources, the whole world is swimming in US$300 trillion in debts of all kinds. There is no way to unwind all that debt fueled luxury lifestyle, and is just a question of how long we have to wait for the mother of all collapse that will inevitably come.
Wow well said All
DeleteAnon 10.22
Cheers
Why the Banks can have their billions years in years out?
ReplyDeleteBesides the housing and other businesses loans, the Credit Cards interests that they charged you are pounds of your fleshes and blood when you defaulted late payments or just dragged on multipying your balance debts.
Even for a fifty dollar late payment they will charged you a late payments fee of $100.00
Too many defaults, calls started ringing on your phones.
That's truely "The Merchants of Venice"
Wonder those Bankers and their employees will descent to how how many levels under the Darkness of Hades.
First Republic Bank is in deep trouble. Probably the next one to collapse.
ReplyDeleteNever mind, just print and everything will be fine. Problem is who is buying the debts. Japan pretended to buy in January, but started dumping again in February. I doubt China will reverse its stance of continuous selling. It is now too dangerous for China to even hold so much Treasuries at present. Gold is safer for China to hold, inside China of course.
Amidst all the cheering on social media about the impending collapse of China, it failed to materialise. Instead China's GDP grew more than expected at 4.5%. Now, this is just the beginning of the reopening of China post COVID. Going forward, it will be fun to see those China doomsayers tearing themselves to pieces.
India overtook China in population really fast. Now China overtaking the USA in GDP is also going to be faster than predicted.
ReplyDeleteAnd of course, de-dollarisation is also on the fast track, with so many countries now joining in and doing deals outside of the US$. But not to worry, the US$ will not disappear and still be around, but in what shape is the question. And remember, sanctions will be totally neutralised and countries need no longer have to keep large amounts of US$ as reserves for oil and other trade.