In an item on Dollar Tree buying out Family Dollar stores, Business Insider’s Ashley Lutz suggests ‘American families are not deploying enough money.’
In truth, American families have little money to “deploy.” Grocery prices are up sharply, utility costs the same. Disposable funds for entertainment and recreation have dwindled by two thirds or more. And jobs?
Percentage wise, fewer Americans are working than at any time since 1938. In terms of what a typical paycheck will buy, we are at the lowest point since 1933. One American family in five has no employed family member. Millions of families have one employed family member, usually a wife, and all too often the employed family member can only work part-time.
The brutal truth is simple enough. The American economy is running on fumes – and printed money, doled out as “benefits.”
Mathematically, this cannot continue. Whether the break comes tomorrow or a year from tomorrow, it is as inevitable as sunrise.
And falling retail sales are merely tell-tale cracks in the facade.