“In the post-digital era, only the strong will survive. Darwin would love this,” said one retail analyst. More than 41,000 people have lost their jobs in the retail industry so far this year — a 92 percent spike in layoffs since the same time last year, according to a new report. And the layoffs continue to mount, with JCPenney announcing this week it would be closing 18 stores in addition to three previously announced closures, as part of a “standard annual review.” Retail j

“In 30 years, I’ve never seen anything like this”: CEO of warehouse operator Pacific Mountain Logistics. Sales at merchant wholesalers (except manufacturers’ sales branches and offices) fell 1% in December 2018, compared to November, to $497.2 billion on a seasonally adjusted basis, and inched up only 1% compared to December 2017, according to the Census Bureau estimates this morning. But inventories at these wholesalers rose 1.1% from November and jumped 7.3% from December 2

As we noted recently, despite global stock markets soaring, global freight indices have been more-than-seasonally weak so far in 2019 with the Baltic Dry Index in particular crashing. The Baltic Dry Index represents the cost of renting an ocean-going container ship to move goods from, say, Chinese factories to the Port of Los Angeles. The more stuff being made and sold, the higher the demand for such ships, and thus the higher the price to rent one. And vice versa. This is d

NEW YORK (AP) — Stocks tumbled Thursday as this week's spike in U.S. interest rates rippled through global markets. Investors sold high-flying technology and internet stocks and the Nasdaq composite took its biggest loss in three months. Strong reports on job gains and the service industry have sent bond prices tumbling over the last two days as traders bet the U.S. economy will keep growing at about its current clip. Government bonds are stable investments that look most ap

A McDonald's employee passes an order to a driver at a drive-through restaurant in Los Angeles. Lucy Nicholson/Reuters Executives and analysts say that a "war for talent" is sweeping the restaurant industry and creating massive problems. Chains like Dunkin' Donuts are struggling to fill positions, with some brands falling short of sales goals due to labor shortages. With unemployment low and a plethora of alternative jobs available,chains are scrambling to find a way to hire

When currency was backed by gold, a central bank’s main function was to maintain the value of the issued currency in terms of gold. For example, if a central bank created too much money against the gold reserves in the banking system, an increasing number of people would begin to exchange their currency for gold. To combat this, a central bank would be forced to raise interest rates and decrease the money supply. The higher interest rates would incentivize people to exchan

There has been a longstanding narrative in economic circles that no matter what crisis occurs the U.S. dollar is essentially invincible. I have never been one to buy into this assumption. Reason 1: Because I remember distinctly just before the derivatives and credit crisis in 2007/2008 the majority of mainstream economists were so certain that U.S. housing and debt markets were invincible, and they were terribly wrong. Whenever the mainstream financial media are confident of

“I live in Alexandria, Virginia. Near the Supreme Court chambers is a toll bridge across the Potomac. When in a rush, I pay the dollar toll and get home early. However, I usually drive outside the downtown section of the city and cross the Potomac on a free bridge. This bridge was placed outside the downtown Washington, DC area to serve a useful social service, getting drivers to drive the extra mile and help alleviate congestion during the rush hour. If I went over the toll