Debt, Depression, Default. America is in Deep Trouble

Consumers are spending less.  Small retailers are closing shop -- even cable television subscriptions are seeing a loss in revenue. Mike Shedlock of  globaleconomicanalysis.blogspot.com cites reports by Jacqui Cheng of Ars Technica, Mercedes Cardon of Finance Daily, and Jon Chavez of  the Toledo Blade,  highlighting America's economic woes with the following:Cable TV companies saw a noticeable drop in the total number of subscribers... a first for an industry that has thus far seen nothing but growth.In Toledo, Ohio, ‘for lease' signs have proliferated along the Monroe Street-Talmadge Avenue corridor, once the crown jewel of commercial real estate. Even more shocking are signs that feature ‘free rent.'More small retailers have left this corridor than have arrived in the last few years.Saks is closing two stores in Plano, Texas and Mission Viego, California.  This is in addition to stores closed in San Diego, CA; Portland, OR; and...(Read Full Article)

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