by Susan Duclos, All News Pipeline:
The media spent almost four years telling Americans that Bidenomics was good for the U.S. economy, citing so-called “experts,” claiming that all indicators showed a thriving economy.
In the meantime, Americans were looking at their bank accounts, wallets, increases in utility bills and the extreme high price of food.
Media personalities like former CNN host Don Lemon, had the nerve to look straight in the face of someone he was asking about the economy and tell the man he wasn’t misinformed, about his own finances.
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“Four years ago it was a lot better. I made a lot more money than I do now,” the man said.
Incredibly, rather than try to understand the man’s perspective, Lemon argued with him.
“I know you feel that way, but that’s not actually what the record shows,” Lemon said. “The economy is actually better under Biden.”
That prompted a hearty laugh from the interviewee.
That quoted portion of the interview starts at about the 1:29 minute mark in the video below.
The true state of the economy can be seen in business closures and store closures all around the nation, which some have dubbed the “retail apocalypse.” With each closure, whether an entire chain of a company, or just dozens to hundreds of stores, comes the unemployment of all the employees that worked for said company.
In data from Foresight presented by Newsweek “U.S. retailers have projected over 7,100 store closures by the end of November 2024, marking a 69 percent increase compared to the same period in 2023.”
Visuals always tell us far more than thousands of words can so here is the graph used in that article.
Some of these closures are due to bankruptcy and liquidation, such as Big Lots, Rue21, and Rite Aid, while others are enacting longstanding plans to reduce their physical footprint, such as CVS Health, which announced in 2021 that it would close nearly 900 stores between 2022 and 2024.
Those are the ones that closed the most stores, but the full list of retailers that have closed stores, is a good indicator of how massive this issue has become in 2024, especially since there were thousands of closures in 2023 as well.
- Family Dollar
- CVS Health
- Big Lots
- Conn’s
- Rue21
- 7-Eleven
- Rite Aid
- 99 Cents Only Stores
- American Freight
- Walgreens
- DK
- LL Flooring
- Footlocker
- Express
- Alimentation Couche-Tard
- Dollar General
- Macy’s
- The Body Shop
- Save A Lot
- Bath & Body Works
- Dollar Tree
- Soft Surroundings
- Sam Ash Music
- Sleep Number
- Burlington Stores
- Stop & Shop
- Office Depot
- Ted Baker
- Carter’s
Americans applying for unemployment benefit claims rose to the highest level in three years, which is not a sign of a healthy economy, and expected to greatly increase in 2025.
Three separate pharmacies, Rite Aid, Walgreens and CVS Health are also an important factor as there are now “pharmacy deserts” in certain areas, as reported by Fast Company.
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