In the second quarter of 2021 Target earned $1.82 billion in profit. In the second quarter this year, target earned $183 million. That’s the result of inflation hitting the middle-class consumer.
Few people are buying electronics, home goods, durables or clothing. Any retailer that specializes in the sale of non-essential items is going to feel the financial results of working-class families reprioritizing their spending. Checkbook economics is the economics that matters.
Hopefully, CTH readers are well prepared for this phase of the Joe Biden economy. It will almost certainly get worse.
(Daily Mail) – Target reported on Wednesday that its profits plunged nearly 90 percent last quarter after it was forced to slash prices to clear unwanted inventories of clothing, home goods and electronics.
In early June, Target warned that it was canceling orders from suppliers and aggressively cutting prices because of a pronounced spending shift by Americans as inflation cuts into spending on non-essential items.
US retailers have cut their profit forecasts in recent weeks as consumers squeezed by higher prices for essentials such as food and gas cut back on items like apparel and electronics.
[…] ‘Americans have had to trade down or delay purchases as inflation continues to squeeze household budgets,’ Morning Consult’s retail and e-commerce analyst Claire Tassin told DailyMail.com. (read more)
The cascading impact will flow through multiple sectors, including housing.
(Forbes) – Despite falling mortgage rates providing some relief to potential home buyers, mortgage applications fell to the lowest level since the turn of the century last week—providing fresh evidence that the housing market downturn may have room to run as some experts worry about how the collapse will damage the broader economy.
Mortgage applications fell 2.3% from one week earlier, according to the latest data from the Mortgage Bankers Association, pushing overall applications to the lowest level since 2000 even as rates on the popular 30-year fixed mortgage slipped to a two-month low of less than 5.5%. (read more)
Their policies are working just as they have hoped.
Can you say depression? I knew that you could.
” Can you say depression? I knew that you could.”
Yeah-and just put on Mr. Sweatercoat if you can’t afford the heat bill…..
“Come on man”….it was 0% inflation last month….Let’s SPEND SPEND SPEND
No increase in the increase in prices does not equal 0% inflation, Brandon.
actually, it was a LOWERING in the rate of inflation…..it was still 8.5% YoY last month
Biden has people boycotting Target.
Well, if that ain’t something.
Time to put a black photo on their Instagram page?
A lot of people, including me are boycotting Target because of all their woke BS like selling tranny and gay children’s books.
Havent’ been to a Target store in 7 years (maybe 8?). I’ve been tempted, as I’ve always thought they are generally better than Walmart. Oh well……
Yes. I haven’t set foot in that store since they allowed cross dressing weirdos in the girls room. They are dead to me.
I gave up shopping at Target when they decided people could use whichever bathroom and dressing room they prefer. I don’t care if my son-in-law works there, I am not shopping there.
Many orders cannot be fulfilled because of missing components from overseas (thanks to the CFR’s treasonous “Free Trade” policies), stuck in a purposeful planned economic disaster logistcs logjam and a tail off of orders. This was coming off a record 4 year run under PDJT’s MAGA policies.
My A/C went out the other day and the repair guy said the part needed is not available and they can’t say when it would come in (if ever). I ended up getting a freon refill that costs $200 more than last year (and will leak out because of the faulty part.)
Just wait until the new refrigerant gets mandated.
Its coming. I think they have designated it r-1234a or some thing.
A propane derivative I understand.
R12 has been gone for 30 years.
R22 is just about gone.
The “new” one R410a is to be phased out soon.
What does this mean?
$$$$$$$$$$$$$$$.
The ozone hole over the Arctic set a record for largest ever in 2020. Unprecedented!
See how effective these mandates are?
Yeah, but just think how big that hole would be without the mandates.(sarcasm)
In laws have been without a refrigerator for over a month.
Its big and expensive, and under warranty.
The repair shop couldn’t get a compressor for it.
Tried a rebuilt compressor and it failed immediately.
They had to go buy a refrigerator, while they wait for the new compressor.
I retired last fall from active contracting.
My friends tell me parts are in some cases very hard to come by.
It will get worse.
My advice to your in laws is to try and find a good second hand refrig, preferably made before all of the boards and electronics came in use.
Hard to find, but they last.
Got an old fridge in the barn, over 60 years old.
Looks like hell, runs like a top.
My folks have a Cold-Spot freezer that is still running at ~50 or so years old.
I have a GE dehumidifier from their house that’s 40-45 years old and runs just fine!
If you can afford it, buy 2 of the critical appliances, so that you can cannibalize one to keep the other running.
My built-in 48″ counter depth fridge started running warm a year ago last June. It was only about 12 years old, and got the bad news that it was leaking coolant somewhere and it wasn’t fixable without risking thousands in an attempted repair that would probably just be a temporary band-aid. I went to look at getting a replacement. The old fridge was expensive when I bought it back in 2007 or so, about $7000. A replacement from GE was $11,500 but I didn’t want another POS GE after having this happen so soon. Ended up getting a Sub Zero ordered for a couple grand more than the GE, but it’s much nicer and has two compressors and can actually be serviced and is made in the USA. It only took 9 months to get it in the Age of Brandon. I kept my old one alive by adding multiple cans of refrigerant to it. Got quite good at it actually. It was really on its last legs when the new one showed up finally.
SubZero refrigerators are the best! And still Made in the USA!
have gone through 2 refrigerators since 2011 and on number 3 now when we first got married our gibson lasted 18 years
Retired Magistrate here: That is why I kept my two old refrigerators: a 22 year old Kenmore upstairs and a 50 year old GE in the basement. They are not fancy; but keep things cold in the bottom part and frozen in the top part.
Our electric company keeps sending me e mails that they will give me $50 to get rid of them, they will even come and pick them up. Silly wabbit…I am keeping them!
We will see Bezos Ice wagons going up and down the streets in 5 years.
Until use of ice is deemed a cause of global warming
During the spring service on my unit, my maintenance guy said there was a part that the manufacturer recommends replacing every 4-6 years. My unit is 4 years old. He had the part and I spent the extra $150 or so to replace it now. I had the money and would rather it not break down when the feels like temp is 105.
Probably the starter capacitor. They don’t last forever. Mine went out last August and I was fortunate that they had a replacement because it was super hot out. It was about 7 years old.
One of my garage door coils cracked in the beginning of summer- back around June 9. TODAY they just got the part to fix it. 😱
After the Texas freeze, I wired in a generator for all the families houses (mine, son, dad, mother in law uncle/aunt), last winter I picked up a bunch of window AC’s for 75 percent off (figured if we lost power in the summer, the houses were already wired in for generators). This summer we never lost power but two ac’s went out. One was 2 weeks for parts, the other 3 weeks. The window units were a life saver.
All these figures really prove is that Target makes too much money. Or at least has done……
But Bloomberg this morning said that Biden had successfully landed the plane on inflation and staved off a recession and market crash!
Crashed and burned more like………….
Hindenbergesque.
“In early June, Target warned that it was canceling orders from suppliers and aggressively cutting prices because of a pronounced spending shift by Americans as inflation cuts into spending on non-essential items.”
100% agree, but I also believe some stores are getting harder hit in this recession. Target and Dicks Sporting Goods are more woke than some of their competition.
Target and Dick’s have been begging to be boycotted. I started boycotting Target right after they instituted the bathroom and dressing room policies.
same!
Same!
Us too!
Same here!
But it never hurt Target. Target and Walmart are where the lower middle class and the poor go to shop. It is telling us that they have no money anymore. My Publix food store down in Florida, I have noticed the parking lot is not as full as it used to be. And they say it is going to get worse. I do believe that come winter time we are going to see mass rioting as people will have to choose between heating their homes or feeding their families.
Same! And Dick’s when they dicked around with gun sales.
Dick’s wont get a dime of my money. I’ll drive 5+ miles out of my way to Cabelas or Bass Pro.
I usually don’t totally boycott any store. I will go in to buy clearance items that I know they lose money on selling. I don’t buy anything else while there.
I bought my granddaughter some Vans for $20 at Dicks Sporting Goods last week. The wholesale cost, employee costs plus ‘free’ shipping likely totaled more than $20. People with school age kids buy kids shoes. Dicks lost a lot of those shoppers.
The day the Dick’s at Dick’s went pc on firearms and ammo was the last time I have set foot in their store of progressive BS.
Rich people are buying pick up trucks now.
The American Consumer has decided they’re not going to pay ridiculous prices for things just to pay layers of useless eaters clogging up Corporate America. Selling College diplomas is over. Equity didn’t work. Look for massive corporate layoffs and those corporations will be happy to see them gone. Why didn’t they just go back to paying productive employees instead of having Chinese slaves? Oh, because people who earn that money aren’t as easily fleeced.
Man, if I could go back to an office filled with hard working ex-construction guys who would do anything to never have to go back outside during the winter, I would. Hell, those guys hated working in horrible conditions so much they’d spend every waking moment learning their “office job” just to ensure they never had to go back.
Polar opposite of offices now. The amount of racism, sexism and potty humor would have had us all fired, but hey, what else is there to talk about with a bunch of minorities, women and unpaid stand up comedians?
I’m worried about this. In a healthcare industry with mostly Medicare patients, and maybe 20% commercial payers, the revenue received is pretty much a fixed sum. I don’t know exactly how inflation has been hitting the supply side of the business, but the only way to increase revenue is to bring in more patients. Things are already run very lean with staffing and supply usage per patient. The only place to cut will be support services at the corporate office, and man they have gotten top heavy the past couple of years. You know they aren’t going to cut the VP of DIE first, it’s going to be the line level grunts that get stuff done.
Another thing American voters want is for their employers to get the hell out of politics. A Trafalgar Group study published in May 2022 found 87% (basically 7 out of 8) voters have had enough of ESG, diversity, lectures about privilege and other woke crap which contributes NOTHING to the bottom line except needless expense which could be redirected to salaries and benefits.
NEWSFLASH: Everything that’s happening has absolutely ZERO to do with Russia and it’s going to get a lot worse.
Yup.
Having taken a part time job at our local grocers to pay bills and stay off of the EBT food card, I see more and more folks using a credit card. Especially elderly, who are too proud to take the state food card dole. It makes me sick.
Worse yet, I watch as one person after another comes in with said state food card and buys literally junk. Candy, soda, energy drinks, chips, dips, frozen pizzas and much, much more. Sometimes $100 to $150 and up. Then there are people who are dressed in designer T-shirts, pants and Nikes and obviously well off using the damn thing, because they can.
My family was recently removed from EBT. No pay raise. Just. Off. Been trying to get through to DSS for a month. Phone system is down.
I’ve been fretting about how to feed my boys for a month now. My husband is one of those ones you’d see buying chips and soda, because those are his exclusive diet. I’ve been stocking up on rice and canned beans and canned fruit and frozen vegetables and roll sausage that I can freeze… so my family isn’t actually going to starve, we’re just going to rapidly get tired of the same thing day in and day out.
But still. When I see (and know) what gets EBT while I’m budgeting to pay rent/electricity/water/gas, not to mention the other necessities of life that come with having three small and active boys, I could just shake someone until their teeth fell out.
I understand. Don’t get me wrong, I am not begrudging the need to use it. Just that so many abuse it. I hope things will come out ok for you and the family.
Oregon is giving any family with kids in public school
the maximum EBT amount, every month.
Kate Brown has extended the emergency again and again,
and that the reason for the EBT bonanza
Now, I’m not blaming people for taking that money,
but it is definitely aiding inflation and high food prices.
Who cares if bread is 4$ a loaf if it’s “free”
Its roughly 400 million annualy injected into the food price structure in Oregon.
Its probably keeping many supermarkets afloat.
Yep. My family went from $1,100 a month (which was ridiculous, pre-inflation) to zero. Not even a reduction, like it used to be. Like I said, I’ve been trying to contest it but can’t get through… the whole thing smells to high heaven.
Can you have a garden next year?
Most towns have community gardens for those without a yard.
It is also possible to raise food in containers on a patio or balcony.
There is a very inexpensive way to do hydroponics, called the Kratky method. Check it out on YouTube.
It can be done indoors and can supplement your family’s diet with salad greens, herbs and other foods.
It can extend your food budget and give you some healthy variety in your diet.
I’m so sorry Tree Climber. Are there some local food pantries you could try? Maybe Call some churches in your area too to see if they can help. The worst they can say is no. Also, would you be comfortable mentioning it to a few neighbors? If one of my neighbors told me a similar story I know I could spare some boxes of Mac and cheese and Dinty Moore. I’ll say some prayers for you.
Agree!
Our Salvation Army and St. Vincent De Paul work with families.
Try your local groups.
I know about mine in my town because they are always doing stories and interviews on FB. I lurk on my community pages. Don’t have an account.
Like I said upthread, we’re okay for now. I’ve been buying two of everything since Sundance put out that advice, and I’ve got my pantry so full it won’t close and every spare cabinet filled. So we’ll be okay for… at least a few months, anyway. It will just be repetitive, and I was trying to avoid dipping into my ‘spare food stock’ until the absolute last resort…
Remember when welfare money could only be used to buy food?
I remember when you got free food instead of free money.
“Ask not what your country can do for you…”
I wouldn’t be too proud to take a government handout, but I would only take it as a last resort. If I could literally feed my family by washing asphalt with a toothbrush, I would, before ever relying on Uncle Sam and his strings of attachment…
My father died in 1979, so this was a long time ago. He worked for the City of Philadelphia, and he’d tell us about co-workers of his, also in city government making a middle class salary, buying food with food stamps, or whatever it was called back then.
They were called food stamps that came in a little booklet (before everything went to EBT cards.)
Yep. I remember them.
Mom would send me to the store to get eggs and milk with them.
I also remember the big, giant blocks of American cheese.
Think, giant 5 lb blocks of velveeta
I hated those sandwiches, and I still don’t like American cheese.
Those 5# Velveta blocks. UGH!!!!
Couldn’t stand to look at ’em.
Thank God I never saw one coming out of my family fridge, but had many friends who did.
Dr Vernon Coleman: Nothing’s Happening By Accident
All around the world, governments are crumbling. The only certainty is that the lies will be followed by more lies. Look around you these days and you’ll see an absence of hope in people’s eyes; despair and a sad acceptance of the manufactured reality; a willingness to do anything they are told to do.
They lied when they said there was a pandemic in 2020. There wasn’t one.
They lied when they said there was a pandemic in 2021. There wasn’t one.
They lied about the covid jabs. They didn’t work and they were toxic.
They lied about masks – which manage to be useless and dangerous at the same time.
They lied about the climate emergency. There isn’t one.
https://principia-scientific.com/dr-vernon-coleman-nothings-happening-by-accident/
There’s literally nothing they DON’T lie about. We never watch or read Fake News and we are still extremely informed and up-to-date. We are NOT in any way unique.
And….they lied about an election 😏
It takes a while for adverse to finally “sink in”. It is like turning an aircraft carrier in the open seas. People do not know what it is, but begin to know it is something?
Per the article included in this thread about “falling” mortgage rates…saw an article in Zerohedge that said contracts for housing are being cancelled at a furious rate. The whole economy is crashing in spite of clever and inventive word manipulation and new definitions…as in “recession”.
Hideous inflation especially with food and energy is crushing people. As Ludwig von Mises so accurately said…
“Inflation is the fiscal complement of statism and arbitrary government. It is the cog in the complex policies and institutions which gradually lead to totalitarianism.”
Target won’t be the only one reporting severely damaged bottom lines. They are only getting what they asked for.
Hi Bet,
Keep on an eye on Realtor site. Check for price drops, and houses coming back on the market after a failed sale. Just for fun, look at the property taxes in Democrat Crime cartel run states like Cali, Illinois, NJ, & NY. You will be shocked in many cases.
To call these governments a “failure” is a understatement. Some local taxpayer government watch groups have been saying a Tsunami was coming with the Democrat property taxes and that and more is right at the door so to speak.
Regards my friend. Cheers
Property taxes are through the roof in most states, it’s not just Democrat strongholds.
Texas has some of the highest property taxes in the country. Since they don’t have a state income tax it’s how they pay for fire, police, public education, et al.
Public education is 80% of the taxes where I am at….. even with Billions in extra Covid funds they are still increasing the level of USD funds this year. F*cking criminals.
And guess what?? Texas has announced it has $22 BILLION in the bank as of last year. Now what to do with it…offshore windfarms. WEF lover Abbott is chasing a good ESG score.
Funded by confiscatory sales and property taxes in the Lone Star State.
Evening, Colkitto…Ours are pretty rough here in Texas. The property values have been increasing year after year…after year. I hope what’s coming for the Dam controlled states is not coming for us.
Our daughter and son in law are trying to sell their house at the worst possible time. They’ve dropped their price substantially. She quit her job (teacher) on the strength of thinking it would be a quick sell so they could move where her husband has had a promotion. I’ve said nothing but suspect it will be quite a while before it sells.
I dread to think how many people are in trouble here, and how much worse this is going to get.
And on that happy note, as always, my friend, blessings…be well.
Next door neighbors are trying to sell their house. Had to drop the asking price to get more prospective buyers. And they are few and far between.
Hmmmm. Sold my Mom’s house. (as is) in September 2021. It has been back on the market three more times, with significant increase in price. I sold it for $690K, purchased by some investment company. They sold it within four weeks for $830K, and whoever bought it then fully rehabbed it and put it on the market for $1 million, and they got $1.5 million (there was actually a bidding war). Within another two months, it was back on the market for $1.499 million.
Mind you, it’s in a ghetto neighborhood, it’s tiny, and my Mom purchased it for $18K in 1967
See my reply above to Colkitto, Bad Dog…
Dr Vernon Coleman: ‘Will The Lunacy Ever End?’Published on August 17, 2022
The sad and sorry souls who agreed to be jabbed with the covid-19 toxic garbage are developing diarrhoea because their immune systems were buggered by the jab. In the winter the hospitals will be full of jabbed patients dying of infections such as pneumonia.
Tragically, many of them will be dead within five years.
https://principia-scientific.com/dr-vernon-coleman-will-the-lunacy-ever-end/
I was just telling someone the other day that in ten years, unjabbed women of child-bearing age are going to be hot commodities.
SO the English film The Elephant Man will be remade as a Oscar winning film The Elephant Tran in 15 years.
I went shopping today and bought a dozen large eggs for $3.01. I was going to buy some vegetable oil but decided not to due to the price of $5.49 for a 48oz. bottle. It usually ran $2.50 to $2.80 for 48 ounces. I shouldn’t be surprised but sometimes it knocks you for a loop to see this phantom inflation that the evil elites claim doesn’t exist.
I like when they adjust the packaging size AND hit you with a price increase
Bar soap…
Good old shrinkflation.
I increased my chicken flock this year, from 4 to 14.
Stocked up on a year’s worth of chicken feed, too.
Figure I can barter the eggs when things get really tough.
Next year I plan to raise most of their feed.
I recommend that anyone who can, raise a garden and a few chickens.
What you don’t eat, you can trade.
I read that shoppers r boycotting which is also contributing to freefall profits, because they openly support abortion but refuse to provide services for pregnancy. Get woke go broke and yes, I’m boycotting.
There’s a meme going around the Millennial pro-life community that “There’s nothing more dystopian than forcing women to kill their baby so they can continue working for big corporations.”
Prices at the grocery store are unrecognizable. They go up nearly daily.
Almost everything I buy has now doubled in price, which also means the Govt’ is getting double the 10% sales tax.
You live in the wrong place. There is no tax on food or drugs in my state. Everything else is 6% with maximum local add on tax of 1%.
I do live in the wrong place, but it wasn’t always that way. The Commies are creeping into good areas and jacking up taxes when they get into Govt’ positions. They have been doing this for the past 20 years or so.
I don’t usually shop at Target, however; I know the younger crowd loves Target. The “kids” that I know are really strapped for cash, and for the past few months said they can’t afford Target anymore. Also, I noticed a lot more people bringing their lunch to work.
More parents doing school-clothing shopping in Salvation Army from what I have been told.
I’ve been boycotting Target for years but even before I did I rarely went because they had terrible inventory issues e.g They’d be out of blue uniform shorts in August even though nearly half the kids in the area wear them to school.
Anyway, the young people do like the Target clothes but more and more of the young ‘uns are second hand shopping in person and online. They are BROKE. The dopes in DC think the slightly declining gas prices will appease the masses but with skyrocketing food and rent, I think they’re kidding themselves.
Just wait until oil=gas goes up this winter. They will go from BROKE to BROKER to BROKEST! I live in the Northeast and heat with oil. Luckily, I replaced a 45-year-old furnace with an efficient one last year, but probably won’t see a savings because of oil prices rising this winter
If historians or normal people ever wondered how certain major historical events happened all they need to do is look at the last 25 years. Camille Paglia says were are in the late stage of the empire just before it dissolves. Others say we are in the fourth turning. Some say we are heading toward the Tribulation. Whatever you call it, or however you define it, just be prepared for some of the harshest times we’ve ever seen.
Tribulation.
Come Lord Jesus come!
Too woke but not broke enough
It is exactly how I see it. Not near enough pain felt yet.
Many places still have that nice summer weather. Like that old song, “Lazy hazy crazy Days of Summer”, and like the Ant and the Grasshopper either they are living a summer life, or they are getting ready for winter. Ah, Summer, the good old days of the past…sigh…
Roll out those lazy, hazy, crazy days of summer
Those days of soda and pretzels and beer
Roll out those lazy, hazy, crazy days of summer
Dust off the sun and moon and sing a song of cheer
Just fill your basket full of sandwiches and weenies
Then lock the house up, now you’re set
And on the beach you’ll see the girls in their bikinis
As cute as ever but they never get ’em wet
Roll out those lazy, hazy, crazy days of summer
Those days of soda and pretzels and beer
Roll out those lazy, hazy, crazy days of summer
You’ll wish that summer could always be here
Roll out those lazy, hazy, crazy days of summer
Those days of soda and pretzels and beer
Roll out those lazy, hazy, crazy days of summer
Dust off the sun and moon and sing a song of cheer
Don’t hafta tell a girl and fella about a drive-in
Or some romantic moon it seems
Right from the moment that those lovers start arrivin’
You’ll see more kissin’ in the cars than on the screen
Roll out those lazy, hazy, crazy days of summer
Those days of soda and pretzels and beer
Roll out those lazy, hazy, crazy days of summer
You’ll wish that summer could always be here
You’ll wish that summer could always be here
You’ll wish that summer could always be here
Who woulda thunk the parallel economy would include, just stop participating in their racket. We all find out we don’t need that crap anyway. Enough people realize that and the multinationals are sunk.
Feature not flaw.
Our local welding supply store (small town flyover land) is no longer selling 5 gallon bottles of propane as there is a shortage of the containers. They will fill up any that you own, but that’s it. Heating fuel shortages just in time for winter.
Inviting trans-testicles to pee on the seats in the ladies room didn’t help.
Anyone know that in such economic times when durables like expensive kitchen appliances aren’t being purchased, how long before manufacturers lower prices?
Right! That’s what I want to know. We have a fridge on life support. I’m hoping that appliance prices start dropping.
If not, life support is AOK.
I would imagine they will start slashing prices on any model with a high inventory. I know the counter-depth fridges that are popular right now do not have high inventories; in fact, are hard to get.
One would think all those damned e-cars they have on order just SIT THErE.
Don’t know, but if anyone has any extra cash available because they were prudent the last few years, they will be able to pick up some big ticket items at a great bargain price.
My best guess will be pre-Black Friday sales in October. October 1 is the beginning of the fall quarter.
I don’t know. I recently bought a small freezer and found that there was a four to ten week wait on different models. I wondered if manufacturers were not making freezers until they were ordered, rather than have them sit on store floors unsold.
My local Rural King had small freezers on pallets stacked to the ceiling with two pallets right inside the front door for easy loading. You need better stores.
Go woke, go broke
Incorrect headline. TGT ordered a mix of inventory similar to demand during COVID with people bulking up on electronics and specific related items. Going back to work and getting out, people are spending more on leisure and outdoor related items. TGT screwed up and is writing down what they could not sell last quarter.
Have to look at the detail and not take one event as reflective of all. WMT did just fine.
Yes. You can’t write an article like this without a compare and contrast to the retailer that’s likely right next door. Very good and very valid point.
WOW! And I thought my Ebay shop was doing badly!
I am getting beat up pretty bad in mine. I am beginning to accept offers that I would have never considered.
their prices are RIDICULOUS so there is THAT …. the stuff is mostly cheap junk so what do they expect
Good advice I picked up here is to STAY FOCUSED. Don’t be distracted by unnecessary “shiny things” when out shopping.
“Few people are buying electronics, home goods, durables or clothing.”
Great, because most of those come from China. China is having serious economic issues right now, one of the reasons for their laughable military posturing on Taiwan, an internal propaganda diversion, so this hopefully helps to kick them over the edge.
What the CCP worries about most is not the US and its owned politicians, but 1.4 trillion angry Chinese hanging CCP fat cats from lamp posts. That’s why they spent more in 2010, during the worldwide repercussions from the sub-prime crash, on their internal police force and surveillance state than on their military.
CCP has 50M members in charge of 1.4+B Chinese citizens in PRC…..to say the “Party’s” position can quickly become precarious is an understatement
Watched Steve Bannon’s show yesterday and China is really in big financial trouble. People can’t even get their money out of their banks. Funny how the Fake News doesn’t even talk about it. And the more we are hurt financially, the worse it gets for China as we aren’;t buying their junk anymore. Same with the EU.
In all honesty, I think people don’t shop Target due to the fact of the Quality of people they hire. Too much Wokeness has killed them.
Food banks are out in front of retail stores collecting money/looking for support. They claim they are running out of supplies.
How can it be that when the Biden gang is passing out billions of $$$$$ that the food banks are running out of money? What rat hole is the Biden gang putting all that money into?
Last time I checked it wasn’t rich people going to food banks. At least not yet.
They are robbing us all blind…. none of the money Biden is Printing literally out of thin air…/ handing out is going to the average people.
Billions if not Trillions are going into their donors, and fellow friends pockets.
They are robbing the Treasury (which is actually the people) right in our faces.
Here is a note from the “(Federal) Reserve” of the former prosperous Rhodesia, now the democratic marxist cesspool liberal lunatic asylum of “Zimbabwe”.
I goes to organizations that can launder it back to Democrat politicians.
Take that you smelly Wal-Mart People.
‘Just went to a Southern Virginia Walmart. I could SMELL the Trump support.’
-FBI Peter Strzok
You that shot of him where he’s testifying and he turns back to the camera and makes that face that 8 year old girls make?
I said right there, “Perv.”
Which one?
I can SMELL the swamp sludge
Please!!! I haven’t eat supper yet. That pic. Ruined my appetite.
Good article on Gateway Pundit about scumbag Strzok always working for the CIA and never working for the FBI. So, how did the FBI fire him if he never worked for the FBI? 🙂
To me he looks demon possessed.
Bathroom tranny policy didnt help … woke/Broke
If practical economics are to be trusted,
the solution to high prices,
is high prices
We shall see.
You can run your business stupidly and the taxpayers will bail you out … as long as the democrats are in charge!
It has turned into Kmart with rainbow colors. Everything about it is horrendous.
But, if Americans were manufacturing those products domestically, there would be no such problems. Just sayin’.
I laughed bitterly when one propaganda-mouthpiece was trying to say that Russia “produces nothing and imports everything.” They were speaking of the wrong country.
Puck, of A Midsummer Night’s Dream, summed up the last eighty years of the USA perfectly: “What Fools These Mortals Be!”
They have the worst Board in the history of the SEC.
I don’t feel sorry for Target, Walmart, Kroger, etc. These superstores raked in billions during the pandemic/lockdown. They pushed the social distancing on us, the mask nazis, the marks on the isles, advertising constantly to get COVID tests, to wear masks, and now to get vaccinated. Target and the others just recently relaxed their tyrant rules. A year ago, they were in full swing with them and raking in big bucks.
And having an employee shortage, to boot.
They still are, from my source.
Most recently, because people that are coming back into the work force
dont want to work for 15$/hr part time/funky hours, with next to no medical,
and no union to support them.
This, from a friend who works corporate personnel for a big store.
War is peace.
Freedom is slavery.
Ignorance is strength
There is no recession.
Inflation is transitory.
Jimmy loves Joe!!
As long as Biden and his cohorts keep meeting Clarence Beeks and getting their financial reports from him all is well.
Re “Target Profit Drops 90% in Second Quarter as Inflation Changes Consumer Purchasing
Have they reached the point yet when they think about all the ways they bought into the leftist agenda and say, “Oh sh!t, what the hell have we done?”
Or what about…
Was Walmart as bad of a drop? Because I know a lot of conservatives decided to boycott Target for all of their gay pride & selling chest binders for young girls.
People are broke, this isn’t about boycotting. Nobody imagined having to pay $4-$5+ gasoline and skyrocketing food prices. Biden said he was going to make everything Better and the idiots bought into his lies.
No, but Walmart sells a lot more groceries than Target. I have no doubt the conservative boycott hurts them (I don’t shop there anymore) but Target historically makes a lot more money on its clothing and housewares than its food. And people are only buying essentials these days.
I’ve been a Diet Pepsi addict for decades and everyone who knows me is aware of that. I have one 6-pack of 16.9 ounce bottles left and unless there is a really good sale, I won’t be buying it again. I drink water and I’m experimenting with ice tea recipes and flavoring now.
Inflation got me to do what Pepsi’s woke policies could not. I’m sure it’s better to not have the chemicals and all the plastic bottles anyway.
I am Diet Papsi as well. I watch for the rare sale and then buy a trunk full.
I still buy Diet Cherry Pepsi when on sale, otherwise get the little bottles of flavorings & add to water over ice. Favorites IMO are grape & black cherry.
Your teeth will thank you..
My data point is my favorite surplus grocery run by a Mennonite family. They buy damaged, short date and unsold trials at deep discounts. They are keeping prices low but shelves were stocked thin and there were many more customers than usual.
Why do Democrats want to destroy the Middle Class. Look at the Target income change from 2021 to same period 2022!
Why are Democrats destroying the Middle Class? That will destroy corporations and that will destroy jobs at those corporations.
NUTS!!
through destruction and the attendant chaos, they hope to erect their fantasy socialist nirvana….they even had a couple of advocates write a book detailing how to bankrupt a capitalist system to usher in a socialist one named Cloward-Piven…….both Obamas and the Hag among many others were fans
It is not the Democrats, it is the Globalists of both parties.
The “why” is because they are obeying their master, Satan.
They hate us and want us dead.