2300 Retail Stores To Close, Expect Dow 15k by July
The insanity continues. A few days ago... Dave over at the Golden Truth had mentioned that some very big, national retailers were shutting down and closing stores. Today I found this article on Yahoo. http://finance.yahoo.com/news/eight-retailers-that-will-close-the-most-stores-173320796.html?page=1 So just how many more people will become unemployed as a result of this? It's hard to tell for sure but... This is how the new math works. These eight chains will report higher earnings as a result of leaning out their structures. Quarterly results are bound to improve. Another 200,000 workers will be unemployed, paying substantially lower taxes, and receiving unemployment. This of course is all bullish for the stock market. Decades ago, it was pretty much understood that employment had always been a lagging economic indicator. Markets predicted future economic health and as businesses expanded their operations, employment picked up and eventually peaked at the top...