It's been a tough week for the retail industry, with more than 1,000 stores closing their doors for good. Luxury retailer Michael Kors announced it would be closing over 100 locations, and electronics giant Radio Shack closed 1,000 locations across America.The retail industry, which represents $5 trillion in economic impact, has changed significantly over the past several years. More than 100,000 retail workers have lost their jobs since October 2016.Industry analysts have been sounding the "retail apocalypse" alarm for the past few months — but there are some who disagree.
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Unfortunately there is going to be a plethora of more retail closures. I have heard of some hedge funds out there shorting commercial real estate and they started doing it months ago.
Sure is looking like a recession is on the way. Get your crypto and bullion stored somewhere safe.
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