Bricks-And-Mortar Retail Crisis Ramping Up – 08.22.2016

Macy’s problems (110 stores closing this year) reflect general industry woes exacerbated by increasing on-line trading led by Millennials. Ancient technology hampering many industries (e.g. airlines) and banks. Retail banks are an anachronism: their work can almost all be done online much more cheaply and efficiently. Self-drive cars to be on the roads by 2021. The dreadful story of the coming collapse of Miami real estate. More on Civil Asset Forfeiture. A new poll shows that 72% of the nation believes that America is falling apart. Quick word on the stock market. Obamacare in grave, dire straits. The Vice-Chairman of the FDIC says that “capital is inadequate for bank resilience”. Millennials near bottom of 22 developed nations in literacy and actually dead last in numeracy. (CBS News survey). Wow!