After the holidays, filing bankruptcy may be only option for many retailers

SHTFplan contributors opined about the 2009 holiday retail season in The Recession in Pictures, with many coming to a similar conclusion to Alan Cohen, Chairman of Abacus Advisors.

The US Financial Structure is Doomed. Monetization, Crisis of Retail Trade, Decline of the Dollar

(BobChapman) – Nearly half the nation’s 25 biggest retail chains expect to hire fewer holiday workers this season than they did last year, another sign that retailers aren’t counting on recession-strained shoppers to relax the tight grip on their pocketbooks this year.

The hunt is on for more ammunition in Nevada, U.S.

Supply can’t keep up with demand, a trend that began after election

Searching for the Depression and Finding It

(DannySchechter) – Economic Stress Is Hidden, But It’s There in a Recovery That Isn’t.

Less Government or Lower Wages? You Decide – Peter Schiff

The nationwide revelry surrounding our apparent economic recovery was disrupted this week by the release of lower-than-expected retail sales data. However, rather than sending a chill up the spines of those hoping for a quick end to the downturn, the numbers should be welcomed. Though this may come as a surprise to most observers, lower retail sales are precisely what our economy needs.

Gun Makers and Retailers Post Strong Sales Increases

The economy might be tanking, but firearm sales are going great.

25% of Retailers May Go Bankrupt

Retailing has always been a tough business. Now it’s a brutal business. Some observers now predict that more than 25% of retailers may go bust in the the next two years.

Is Feb. 10 financial doomsday for thousands?

A new government regulation scheduled to take effect next month has thousands of retailers, thrift stores and small businesses worried they will be forced to permanently close their doors – and destroy their merchandise.

The law is expected to have such a devastating impact that Feb. 10 is now unofficially known as “National Bankruptcy Day.”

MSM: Check This Graph-Proof we are going into a Great Depression. Notice MASSIVE job losses?

The U.S. economy probably lost more jobs in 2008 than in any year since the end of World War II as firings rippled from homebuilders and automakers to banks and retailers, a government report may show this week.

Payrolls fell 500,000 in December, bringing last year’s decline to 2.4 million, the most since 1945, according to the median estimate of economists surveyed by Bloomberg News ahead of Labor Department figures due Jan. 9. The unemployment rate likely jumped to the highest level since 1993.

The figures will underscore the urgency behind President- elect Barack Obama’s plan to pass a stimulus package that will create jobs and mitigate the recession, already the longest in a quarter century. Other reports may show slumps in housing, manufacturing and service industries deepened at the end of last year, setting the stage for more weakness in 2009.

73,000 retailers to to close in first 1/2 of 2009

For those of you who don’t know, consumer spending makes up roughly 70 pct of the US economy, yet many consumers have been pulling back due to job insecurities, declining credit lines, falling wealth effect (caused by falling home values/cratering retirement plans) and overall general unease about the future. The end result of this pull back: Significantly declining retail sales – leading to numerous store bankruptcies and closings.

MSM: Stocks extend decline as economic woes mount

Wall Street extends decline as Cisco comments, retailers’ sales add to recession worries

NEW YORK (AP) — Wall Street recoiled again Thursday, sending stocks lower for a second day after Cisco Systems Inc. reported slumping demand and retailers turned in generally weak sales for October. Concerns about widespread economic weakness sent the major stock indexes down more than 3.5 percent, including the Dow Jones industrial average, which tumbled 400 points.