Tuesday, May 19th, 2020
US Retail Sales Plummet, US Auto Sales Plummet, Coronavirus Retail Sales, Coronavirus Small Business Culling, Small Business Culling, Small Business,
We are told we are choosing between life and money, with no comprehension that for significant proportions of people, money and life are one and the same. When you see numbers that show significant drops in economic activity, what you should understand that we poors who run our humble little businesses, we only got so much lines of credit, so much reserves, so much market protections (virtually none compared to the citadelian corpos), WE will be significantly and profoundly hurt by this continued shutdown.
It’s the small businesses that give you opportunities to have choices about how to make a living, Without them, the reduction of self to the needs of the corp will only be radically accelerated, to the benefit of the billionaires that many on the left imagine they are fighting by fighitng to keep things shut down, using violence, if necessary, to do so, violence through ‘officers’ patroling playgrounds for Moms with kids BREAKING THE LAW, BREAKING THE LAW!
This news is catagstrophic for we poors. The corpos will get their bailouts, and they already have their massive credit lines and reserves to weather a storm that might hurt them short term, but long term, that storm is brushing away the wee businesses that had no similar bulwarks against raging tempests.
Excerpt from www.voanews.com
With Commerce Frozen, Retail Sales Plunge Unprecedented 8.7% | Voice of America
U.S. retail sales plummeted 8.7% in March, an unprecedented decline, as the viral outbreak forces an almost complete lock down of commerce nationwide.
The deterioration of sales far outpaces the previous record decline of 3.9% that took place during the depths of the Great Recession in November 2008.
Auto sales dropped 25.6%, while clothing store sales collapsed, sliding 50.5%. Restaurants and bars reported a nearly 27% fall in revenue.
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