Summary: The retail sector is in worse shape today than it was in 2008 during and immediately following the financial crisis. Retailing has been responsible for 10% of the jobs gained during this so-called recovery. Clearly part of the problem is the increase in minimum wage. Why are retailers adding so many jobs when their business is declining? * A quick little announcement at the beginning of this podcast; I'm going to try to keep the length of these podcasts down to 20 minutes in the future * It seems we have quite a bit of audience falloff after about 17 minutes * We're also skipping our ads at the end in favor of more informative content about Euro Pacific Capital, SchiffGold, Goldmoney and Euro Pacific Bank. * So I am going to do these shorter podcasts more frequently * First of all, it's the RetailPocalypse, which I have been talking about on this podcast that, from my perspective - not just my perspective, * In reality, the retail sector is in worse shape today than it was in 2008 during and immediately foll0wing the financial crisis * We got a lot of bad news from the retailers this week * Including JCPenny and Nordstrom's - horrible sales from these companies * We had other retailers earlier in the week that came out with bad news * Kohl's Department Store, Dillards * Kohl's stock is at 36.5 as I record this * That stock's high was $75-$80 in the summer of 2015 * So it's down 60% or so * Dillard's is at a 52-week low today, at just under $47 * That was over $120 - more than a 50% decline * Macy's was down another 3% today - a new 52-week low * Macy's is at $23.60 -it was a $70 stock * These are huge markdowns for retail stocks * Look at Nordstrom's - down almost 11% today on the bad news * $41.20 - Nordstrom's was an $80 stock is one of the best performers * JCPenny is going to get the prize for the biggest decline overall * This stock's been falling for a long time * It closed today at $4.55 * A lot of people are very complacent - they say, "Oh, it's no big deal because it's all about e-commerce * Everybody is shopping online * Look at Amazon - Amazon stock hit a new 52-week high today * All time high, not just a 52-week high * Jeff Bezos is on the way to being the richest man in the worldOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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