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Friday, January 15, 2016

Obamanomical Death Spiral

by JASmius

Two more mileposts on the way to the Final Collapse.

Crashing stock markets....

A plunge in oil prices sent U.S. stocks sharply lower at the open on Friday, with the Nasdaq falling over 3% to its lowest since August 24th and S&P 500 fewer than thirty points away from its August lows.

The Dow Jones industrial average fell 159.22 points, or 0.97%, to 16,219.83.

And if any of you are numbnut enough to cheer that quote on "F WALL STREET!" grounds...well, then you probably aren't reading this particular blog.  But just in case - the store of the middle and working classes is undergoing "significant shrinkage":

Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.

The stores being shuttered account for a fraction of the company's eleven thousand stores worldwide and less than 1% of its global revenue. The closures will affect sixteen thousand workers, ten thousand of them in the U.S.

Who will now disappear into the Obama "full employment" black hole, never to be seen again by the BLS.  Where it's getting awfully crowded, as I can personally attest.

You don't suppose those stupid-ass $15 an hour minimum wage laws might have had anything to do with this, do you?

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