20 April, 2018

The End of High End Shopping

Yesterday, my family was given an email stating our Herberger's store card will be no more due to the Bon Ton company filing for bankruptcy. I was thinking, another store? Wow, those tariffs are affecting everyone. Many of these high end stores are closing and filing for bankruptcy.

The Bon Ton family opened their first store in 1854. They own Boston Store, Herberger's, Younders, Bergner's, Carson's and Elder-Beerman. That's a pretty long time to be in business.

2016, I also read how Payless filed for bankruptcy too.

The important point is from what I read is how high end, high cost stores are fading and ending in America. There is a risk we will no longer have this sort of shopping here.

Wal-Mart may seem like it's doing fine, in fact in America Wal-Mart is considered a giant that crushes the competition. If a Wal-Mart store opens in the neighborhood, every other store is doomed to close. However, stocks don't lie, and I fear Wal-Mart has suffered from the dwindling economy as well.

Things are not looking good for Gamestop neither. They are closing several stores and their stocks are going down.

I noticed too that the stores in my area can't restock shelves due to the tariffs and economy. Just today, my family ordered from Shipt, a company like Instacart but with Target store, the woman was saying how alarming it was that the shelves were so empty.

I think too, our officials should help get us out of debt, but instead they add to America's debt. The best example is Mark Dayton, the governor of Minnesota who added 188$ million to Minnesota's debt, which was already at 6.2$ billion when he went into office.

Like the quote from Thomas Jefferson,

"We must not let our leaders load us up with prepetual debt."

Another by John Adams...

"There are two ways to enslave a nation. One is by the sword. The other is by debt." 

UPDATE: Getting a lot of heat from this post. Wow, it was just an observation and it gets banned from Twitter? 

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