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How do you think the economy will fare after this holiday shopping season?

This time last year I remember seeing lists of dozens of large and popular store chains going out of business in the first quarter of 2009.

Seeing as the economy isn't doing any better at this point in the year--and, in fact, is much worse--with unemployment numbers continuing to rise, home owners going into foreclosure, and state and local taxes going up, I thought I'd see if there was a list indicating or predicting what can be expected in the retail world after this holiday shopping season.

I found this interactive link. It's not looking too good--even from "untouchable," long-standing retailers! This just means countless numbers of jobs lost, less prosperity, and no turnaround. Obama....are you listening?????

http://www.walletpop.com/specials/retail-stores-closing-doors

(Click for slideshow of 65 different retailers/chains closing or restructuring)

 
Anonymous

Asked by Anonymous at 11:43 AM on Nov. 14, 2009 in Politics & Current Events

This question is closed.
Answers (17)
  • My crystal ball is a little fuzzy today, so predictions may be a bit off.
    Personally, I think most corporations of any size will use the whole year of 2010 to close up shop, hide money and assets, and recruit or take any extremely valuable employees with them overseas if they decide to keep producing. I think a good portion of people who had businesses that provided a large income, will stop any work until Obama is gone. Jan 2011 tax laws will be repealed, and those who can afford to wait it out will instead of just voluntarily giving it to the government.
    Anyone who can voluntarily reduce their incomes will do so, reducing their tax burden overall. Which, of course, will only result in a huge revenue deficit Obama hadn't counted on. His new tax department can only collect on tax evaders, not on people with little or no incomes. And government taxes income-not wealth.
    jewjewbee

    Answer by jewjewbee at 1:50 PM on Nov. 14, 2009

  • I will expect to see more businesses go out of business come January. The stores and restaurants are empty, unemployment hasn't gone down, and people are still scared.
    mancosmomma

    Answer by mancosmomma at 11:59 AM on Nov. 14, 2009

  • You know, morally speaking, I'm wondering If we are finally learning our lessons. We will be making so many handmade gifts in the next couple of weeks, I'm so excited. I have a scanner, so I am designing personalized stationary using pictures of the kids. And hand prints. Homemade chocolate covered oreos and pretzels double double dipped in chocolate and peanut butter. Dough hand print paper weights and trivets.
    lovinangels

    Answer by lovinangels at 12:08 PM on Nov. 14, 2009

  • I can't imagine how a "one off" or small retailer can even begin to make it in this economy. Unless they own their storefront/building, and don't have any major outstanding debts, I guess they can hang-on a while longer. But I don't see how small businesses that need to pay rent, utilities, taxes, and meet payroll can make it where it is actually worthwhile!!!
    LoriKeet

    Answer by LoriKeet at 12:08 PM on Nov. 14, 2009

  • guess what??? I work at walmart and we have not seen anything bought for xmas and anyone who comes thru my line says they aren't doing xmas this year we're not selling anything that has anything to do with xmas just a few decor items but hardly any our shelves are really full so I really think that stores will definatly not be doing well for xmas including walmart the sells are extremly low this year than even last year
    chica679

    Answer by chica679 at 12:11 PM on Nov. 14, 2009

  • Stores are full here but our town has not really been hit buy the recession.  I was at Target yesterday and it was packed.  Our town of 36k is doing well and I really feel for those who live in areas so hard hit.  We took a huge hit about 6 years ago when the economy was doing well in the rest of the country.  We adjusted and adapted.  The country will improve but we won't be the same.  Hopefully people will learn from our Governments spending habits you cannot spend more than you make.  We all will be better off when our citizens and politicians learn that. 

    Anonymous

    Answer by Anonymous at 12:17 PM on Nov. 14, 2009

  • I mean, as a whole, tend to be a bit greedy.
    lovinangels

    Answer by lovinangels at 12:20 PM on Nov. 14, 2009

  • Hopefully people will learn from our Governments spending habits you cannot spend more than you make. We all will be better off when our citizens and politicians learn that.

    ***

    People HAVE learned their lesson--it's the government who doesn't get it. I think for the most part that is being reflected in the spending habits you're seeing. People are buying only what they NEED, not what they WANT.

    The government doesn't understand that taxing the crap out of people and threatening them with "debtors prison" isn't a way to bring about consumer confidence and increased spending!!!

    LoriKeet

    Answer by LoriKeet at 12:20 PM on Nov. 14, 2009

  • Lol, Lori, too true!
    lovinangels

    Answer by lovinangels at 12:23 PM on Nov. 14, 2009

  • I will not be spending any money at the stores this year, only the grocery store.
    tyme4me2day

    Answer by tyme4me2day at 12:53 PM on Nov. 14, 2009

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