Live prudently!!!!
2021 will make 2020 look like a walk in the park..😢😢

WHY?

1. Victoria's Secret declared bankruptcy.
2. Zara closed 1,200 stores.
3. La Chapelle withdrew 4391 stores.
4. Chanel is discontinued.
5. Hermes is discontinued.
6. Patek Philippe discontinued production.
7. Rolex discontinued production.
8. The world's luxury industry has crumpled.
9. Nike has a total of $23 billion US dollars preparing for the second stage of layoffs.
10. Gold's gym filed for bankruptcy
11. The founder of AirBnb said that because of pandemic, 12 years of efforts were destroyed in 6 weeks.
12. Even Starbucks also announced to permanently close their 400 stores.
13. WeWork isn't in a great spot either

The list goes on & on

See the US economy landscape :

Nissan Motor Co. may close down in USA

1. Biggest Car Rental company (Hertz) filed for bankruptcy - they also own Thrifty and Dollar
2. Biggest Trucking company (Comcar) filed for bankruptcy - they have 4000 trucks
3. Oldest retail company (JC Penny) filed for bankruptcy - to be acquired by Amazon for pennies
4. Biggest investor in the world (Warren Buffet) lost $50B in the last 2 months
5. Biggest investment company in the world (BlackRock) is signalling disaster in the world economy - they manage over $7 Trillion
6. Biggest mall in America (Mall of America) stopped paying mortgage payments
7. Most reputable airline in the world (Emirates) laying off 30% of its employees
8. US Treasury printing trillions to try to keep the economy on life support
9. Estimated no. of retail stores closing in 2020 - 12,000 to 15,000. The following are big retailers that have announced closing:

- J. Crew
- Gap
- Victoria's Secret
- Bath & Body Works
- Forever 21
- Sears
- Walgreens
- GameStop
- Pier 1 Imports
- Nordstrom
- Papyrus
- Chico's
- Destination Maternity
- Modell's
- A.C. Moore
- Macy's
- Bose
- Art Van Furniture
- Olympia Sports
- K Mart
- Specialty Cafe & Bakery
and many many more

Unemployment claims reached an all-time high of 38+ million - unemployment is over 25% (out of 160 million of work force, close to 40 million are jobless). With no income, consumer demand is falling drastically and the economy will go into a free fall. This is just USA...

Under the weight of the new crown pandemic, many giants are facing the crisis of failure. 5 months of pandemic created a LOT of debt, and tens of thousands of companies went bankrupt. If you have business & your company is still there, and there are no pay cuts or layoffs, pls treat your company & customer well. Humans are facing the pandemic that cannot be controlled. The second half of 2020, is the challenge of corporate strength & relationship

2020 is about survival. Take care of yourself & your loved ones. Be happy with what you have!
Value Your Jobs

Hi,
you forgot about the shale oil which won't be able to make it production grow.
The economy may never be what it used to be and perhaps 2018 and 2019 are the development's peak of ours way of life. We may have gone into decline now.

We also shouldn't underestimate the capacity of the central banks to react. In the US and Euro they created more than 1000 billion of magic money to prevent the system collapse. And they invented negative rate credit during the past 10 years lol.

But yes, unlimited growth and progressivism (which came from the "philosophie des lumières" 250 years ago) are illusions that we're living with since 2 century. We don't have the cognitive tools to think what's happening, and we don't know what to create against what we are facing : shortages.

A minimum of 50% of Americans have no idea how to live prudently. They think that living prudently is, for example, spending $7/meal instead of $10 per meal. If you can't cook you can't truly live prudently.

Another example is to spend $4 on a coffee instead of $8.

Yet one more example is instead of financing a car at 6 years, they will finance for 7 or 8 years.

That's just a few examples of what constitutes "prudent living" today.

The concept of true prudent living has been completely bread out of a lot of the American population.


rosemm wrote:

So far 2021 is looking pretty promising!

rosemm wrote:

Note to you- good riddance.
Never used/buy what's on your list except AirBnb.
That list is for rich people, I am not in that class.

Just bought a laptop (2080 Super, with 10750h processor), 12 months payment with no interest.
I've quit my job to take a better offer and a better contract.

But I have to spend to save, all the ads tell me so!

Without researching that list one by one, I don't believe Nordstrom is closing.


A friend of mine here, an American holds one of the higher executive positions for the Canadian stores.
I know that there was talk of it closing and she returning to the US in July but she has recently secured another 5 year contract which means, at least here they aren't closing, despite being an American brand.