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THE RULES
Is It Wet Yet?


File: cbc5ae9f6493f1f⋯.png (417.7 KB,648x1313,648:1313,345500.png)

49ed20 No.313011

99 Cent Stores Shuttering All Locations, Citing Crime and Inflation As Key Factors

One of the first places I discovered when I moved to California in the late 1980s was the 99 Cents Only Store. One of my apartments was in walking distance of one, and I could buy a week's groceries for $20. Those halcyon days are long gone, not just for me and others, but for the iconic 99 Cents Only Store. When the company had to raise their price point from $0.99 to $1.01 a few years back, you kind of got the sense they weren't going to outrun this. It was finally the weight of inflation and the COVID [scamdemic] that did them in.

I’m sorry for the 14,000 workers about to lose their jobs.

The 99 Cents Only Stores is closing all 371 of its stores in Arizona, California, Nevada and Texas.

The company is liquidating everything starting Friday.

— Lynnette KhalfaniCox (@themoneycoach) April 5, 2024

On Thursday, the company officially announced plans to close down, citing financial difficulties stemming from the pandemic, changing consumer demand and rising inflation.

The company's press release tells the tale that is becoming the spirit of the age: https://www.prnewswire.com/news-releases/99-cents-only-stores-announces-wind-down-of-business-operations-302108746.html

“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Mike Simoncic, Interim Chief Executive Officer. “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the Company’s ability to operate.”

The press release failed to mention rampant retail theft but you know that factors in as well: https://apnews.com/article/california-retail-theft-legislation-smash-grab-4472b135a8c811cffac2d35571a99cae

Who is this really hurting? Well the 17,000 employees (the X post above failed to factor in the people in the corporate office and ancillary operations) who are now on the unemployment line. At 5.3 percent, California and Nevada already have the highest unemployment rates in the nation. California just instituted a $20.00 an hour minimum-wage hike, which is going over like a lead balloon; so the closure of a small business like 99 Cents Only Stores is only going to add to that burden.

https://redstate.com/jenniferoo/2024/04/05/99-cent-only-stores-shuttering-all-locations-citing-crime-and-inflation-as-key-factors-n2172342

____________________________
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c60666 No.313012

File: 3b2676a6c13988b⋯.jpg (68.51 KB,635x519,635:519,1712309066193552.jpg)

MY COMMENT: Because your grandpa once lived in a country that adopted free market capitalism, had an effective industrial base, was a global manufacturing powerhouse, had a real economy that was fueled by the production of consumer goods, utilities and commodities (not reliant on endless debt!) with an abundance of work ethic and society was less politically ideological. We also had a currency backed by gold reserves since 1944 up till 1971 (the period known as Americana). You now live in a country that is polar opposite from what it used to be! You live in a country that worships endless debt and reckless governmental spending, taxation without representation, a country that has outsourced it's manufacturing base and industry, with a bloated government wanting to police the entire world, a total police state defying our Constitutional laws, ethics and moral principles. THAT IS WHY MODERN LIFE FOR MOST AMERICANS SUCKS TODAY.

The ONLY way we get back to being a strong, robust and prosperous nation is to cut wasteful governmental spending across the board, stop the endless wars and entanglements abroad, reduce taxation for smaller businesses and all workers, secure our borders and stop allowing illegal aliens to take away American jobs, we also need incentives (subsidy) for those who produce food domestically, and those who help run our power plants and maintain our power grid. We need to bring back mining, refining, milling, manufacturing and industry and give incentives to those who help bring back domestic production. Every bureaucratic rule and regulation since the year 1999 that was not passed into law by Congress should be declared "NULL and VOID" as well. This would lift an enormous amount of unnecessary economic restrictions and burden in America and open up massive opportunity. Until this happens, America will continue to decline into the third world abyss.

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c60666 No.313013

File: 9250e59685f3df2⋯.jpg (91.69 KB,1024x619,1024:619,2356263.jpg)

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c60666 No.313014

File: 4c4246d9ca0438a⋯.jpg (127.57 KB,969x463,969:463,Economic_Cycle.jpg)

Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.

d541cf No.313021

Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.



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