Equity

Retail Death Rattle Grows Louder

Off the keyboard of Jim Quinn

Follow us on Twitter @doomstead666
Friend us on Facebook

Published on The Burning Platform on May 25, 2014

Economy-Hindenburgh

Discuss this article at the Economics Table inside the Diner

The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches.

It was exactly four months ago when I wrote THE RETAIL DEATH RATTLE. Here are a few terse anecdotes from that article:

The absolute collapse in retail visitor counts is the warning siren that this country is about to collide with the reality Americans have run out of time, money, jobs, and illusions. The exponential growth model, built upon a never ending flow of consumer credit and an endless supply of cheap fuel, has reached its limit of growth. The titans of Wall Street and their puppets in Washington D.C. have wrung every drop of faux wealth from the dying middle class. There are nothing left but withering carcasses and bleached bones.

Once the Wall Street created fraud collapsed and the waves of delusion subsided, retailers have been revealed to be swimming naked. Their relentless expansion, based on exponential growth, cannibalized itself, new store construction ground to a halt, sales and profits have declined, and the inevitable closing of thousands of stores has begun.

The implications of this long and winding road to ruin are far reaching. Store closings so far have only been a ripple compared to the tsunami coming to right size the industry for a future of declining spending. Over the next five to ten years, tens of thousands of stores will be shuttered. Companies like JC Penney, Sears and Radio Shack will go bankrupt and become historical footnotes. Considering retail employment is lower today than it was in 2002 before the massive retail expansion, the future will see in excess of 1 million retail workers lose their jobs. Bernanke and the Feds have allowed real estate mall owners to roll over non-performing loans and pretend they are generating enough rental income to cover their loan obligations. As more stores go dark, this little game of extend and pretend will come to an end.

Retail store results for the 1st quarter of 2014 have been rolling in over the last week. It seems the hideous government reported retail sales results over the last six months are being confirmed by the dying bricks and mortar mega-chains. In case you missed the corporate mainstream media not reporting the facts and doing their usual positive spin, here are the absolutely dreadful headlines:

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%

Target Profit Plunges by $80 Million, 16% Lower Than 2013, as Store Traffic Declines by 2.3%

Sears Loses $358 Million in First Quarter as Comparable Store Sales at Sears Plunge by 7.8% and Sales at Kmart Plunge by 5.1%

JC Penney Thrilled With Loss of Only $358 Million For the Quarter

Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%

Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%

Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores

Gap Income Drops 22% as Same Store Sales Fall

American Eagle Profits Tumble 86%, Will Close 150 Stores

Aeropostale Losses $77 Million as Sales Collapse by 12%

Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%

Macy’s Profit Flat as Comparable Store Sales decline by 1.4%

Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%

Urban Outfitters Earnings Collapse by 20% as Sales Stagnate

McDonalds Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%

Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster

TJX Misses Earnings Expectations as Sales & Earnings Flat

Dick’s Misses Earnings Expectations as Golf Store Sales Plummet

Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%

Lowes Misses Earnings Expectations as Customer Traffic was Flat

Of course, those headlines were never reported. I went to each earnings report and gathered the info that should have been reported by the CNBC bimbos and hacks. Anything you heard surely had a Wall Street spin attached, like the standard BETTER THAN EXPECTED. I love that one. At the start of the quarter the Wall Street shysters post earnings expectations. As the quarter progresses, the company whispers the bad news to Wall Street and the earnings expectations are lowered. Then the company beats the lowered earnings expectation by a penny and the Wall Street scum hail it as a great achievement.  The muppets must be sacrificed to sustain the Wall Street bonus pool. Wall Street investment bank geniuses rated JC Penney a buy from $85 per share in 2007 all the way down to $5 a share in 2013. No more needs to be said about Wall Street “analysis”.

It seems even the lowered expectation scam hasn’t worked this time. U.S. retailer profits have missed lowered expectations by the most in 13 years. They generally “beat” expectations by 3% when the game is being played properly. They’ve missed expectations in the 1st quarter by 3.2%, the worst miss since the fourth quarter of 2000. If my memory serves me right, I believe the economy entered recession shortly thereafter. The brilliant Ivy League trained Wall Street MBAs, earning high six digit salaries on Wall Street, predicted a 13% increase in retailer profits for the first quarter. A monkey with a magic 8 ball could do a better job than these Wall Street big swinging dicks.

The highly compensated flunkies who sit in the corner CEO office of the mega-retail chains trotted out the usual drivel about cold and snowy winter weather and looking forward to tremendous success over the remainder of the year. How do these excuse machine CEO’s explain the success of many high end retailers during the first quarter? Doesn’t weather impact stores that cater to the .01%? The continued unrelenting decline in profits of retailers, dependent upon the working class, couldn’t have anything to do with this chart? It seems only the oligarchs have made much progress over the last four decades.

Screen-Shot-2014-03-29-at-9.23.25-PM.png

Retail CEO gurus all think they have a master plan to revive sales. I’ll let you in on a secret. They don’t really have a plan. They have no idea why they experienced tremendous success from 2000 through 2007, and why their businesses have not revived since the 2008 financial collapse. Retail CEOs are not the sharpest tools in the shed. They were born on third base and thought they hit a triple. Now they are stranded there, with no hope of getting home. They should be figuring out how to position themselves for the multi-year contraction in sales, but their egos and hubris will keep them from taking the actions necessary to keep their companies afloat in the next decade. Bankruptcy awaits. The front line workers will be shit canned and the CEO will get a golden parachute. It’s the American way.

The secret to retail success before 2007 was: create or copy a successful concept; get Wall Street financing and go public ASAP; source all your inventory from Far East slave labor factories; hire thousands of minimum wage level workers to process transactions; build hundreds of new stores every year to cover up the fact the existing stores had deteriorating performance; convince millions of gullible dupes to buy cheap Chinese shit they didn’t need with money they didn’t have; and pretend this didn’t solely rely upon cheap easy debt pumped into the veins of American consumers by the Federal Reserve and their Wall Street bank owners. The financial crisis in 2008 revealed everyone was swimming naked, when the tide of easy credit subsided.

The pundits, politicians and delusional retail CEOs continue to await the revival of retail sales as if reality doesn’t exist. The 1 million retail stores, 109,000 shopping centers, and nearly 15 billion square feet of retail space for an aging, increasingly impoverished, and savings poor populace might be a tad too much and will require a slight downsizing – say 3 or 4 billion square feet. Considering the debt fueled frenzy from 2000 through 2008 added 2.7 billion square feet to our suburban sprawl concrete landscape, a divestiture of that foolish investment will be the floor. If you think there are a lot of SPACE AVAILABLE signs dotting the countryside, you ain’t seen nothing yet. The mega-chains have already halted all expansion. That was the first step. The weaker players like Radio Shack, Sears, Family Dollar, Coldwater Creek, Staples, Barnes & Noble, Blockbuster and dozens of others are already closing stores by the hundreds. Thousands more will follow.

This isn’t some doom and gloom prediction based on nothing but my opinion. This is the inevitable result of demographic certainties, unequivocal data, and the consequences of a retailer herd mentality and lemming like behavior of consumers. The open and shut case for further shuttering of 3 to 4 billion square feet of retail is as follows:

  • There is 47 square feet of retail space per person in America. This is 8 times as much as any other country on earth. This is up from 38 square feet in 2005; 30 square feet in 2000; 19 square feet in 1990; and 4 square feet in 1960. If we just revert to 2005 levels, 3 billion square feet would need to go dark. Does that sound outrageous?

  • Annual consumer expenditures by those over 65 years old drop by 40% from their highest spending years from 45 to 54 years old. The number of Americans turning 65 will increase by 10,000 per day for the next 16 years. There were 35 million Americans over 65 in 2000, accounting for 12% of the total population. By 2030 there will be 70 million Americans over 65, accounting for 20% of the total population. Do you think that bodes well for retailers?

  • Half of Americans between the ages of 50 and 64 have no retirement savings. The other half has accumulated $52,000 or less. It seems the debt financed consumer product orgy of the last two decades has left most people nearly penniless. More than 50% of workers aged 25 to 44 report they have less than $10,000 of total savings.

  • The lack of retirement and general savings is reflected in the historically low personal savings rate of a miniscule 3.8%. Before the materialistic frenzy of the last couple decades, rational Americans used to save 10% or more of their personal income. With virtually no savings as they approach their retirement years and an already extremely low savings rate, do retail CEOs really see a spending revival on the horizon?

  • If you thought the savings rate was so low because consumers are flush with cash and so optimistic about their job prospects they are unconcerned about the need to save for a rainy day, you would be wrong. It has been raining for the last 14 years. Real median household income is 7.5% lower today than it was in 2001. Retailers added 2.7 billion square feet of retail space as real household income fell. Sounds rational.

  • This decline in household income may have something to do with the labor participation rate plummeting to the lowest level since 1978. There are 247.4 million working age Americans and only 145.7 million of them employed (19 million part-time; 9 million self-employed; 20 million employed by the government). There are 92 million Americans, who according to the government have willingly left the workforce, up by 13.3 million since 2007 when over 146 million Americans were employed. You’d have to be a brainless twit to believe the unemployment rate is really 6.3% today. Retail sales would be booming if the unemployment rate was really that low.

  • With a 16.5% increase in working age Americans since 2000 and only a 6.5% increase in employed Americans, along with declining real household income, an inquisitive person might wonder how retail sales were able to grow from $3.3 trillion in 2000 to $5.1 trillion in 2013 – a 55% increase. You need to look no further than your friendly Too Big To Trust Wall Street banks for the answer. In the olden days of the 1970s and early 1980s Americans put 10% to 20% down to buy a house and then systematically built up equity by making their monthly payments. The Ivy League financial engineers created “exotic” (toxic) mortgage products requiring no money down, no principal payments, and no proof you could make a payment, in their control fraud scheme to fleece the American sheeple. Their propaganda machine convinced millions more to use their homes as an ATM, because home prices never drop. Just ask Ben Bernanke. Even after the Bernanke/Blackrock fake housing recovery (actual mortgage originations now at 1978 levels) household real estate percent equity is barely above 50%, well below the 70% levels before the Wall Street induced debt debacle. With the housing market about to head south again, the home equity ATM will have an Out of Order sign on it.

  • We hear the endless drivel from disingenuous Keynesian nitwits about government and consumer austerity being the cause of our stagnating economy. My definition of austerity would be an actual reduction in spending and debt accumulation. It seems during this time of austerity total credit market debt has RISEN from $53.5 trillion in 2009 to $59 trillion today. Not exactly austere, as the Federal government adds $2.2 billion PER DAY to the national debt, saddling future generations with the bill for our inability to confront reality. The American consumer has not retrenched, as the CNBC bimbos and bozos would have you believe. Consumer credit reached an all-time high of $3.14 trillion in March, up from $2.52 trillion in 2010. That doesn’t sound too austere to me. Of course, this increase is solely due to Obamanomics and Bernanke’s $3 trillion gift to his Wall Street owners. The doling out of $645 billion to subprime college “students” and subprime auto “buyers” since 2010 accounts for more than 100% of the increase. The losses on these asinine loans will be epic. Credit card debt has actually fallen as people realize it is their last lifeline. They are using credit cards to pay income taxes, real estate taxes, higher energy costs, higher food costs, and the other necessities of life.

The entire engineered “recovery” since 2009 has been nothing but a Federal Reserve/U.S. Treasury conceived, debt manufactured scam. These highly educated lackeys for the establishment have been tasked with keeping the U.S. Titanic afloat until the oligarchs can safely depart on the lifeboats with all the ship’s jewels safely stowed in their pockets. There has been no housing recovery. There has been no jobs recovery. There has been no auto sales recovery. Giving a vehicle to someone with a 580 credit score with a 0% seven year loan is not a sale. It’s a repossession in waiting. The government supplied student loans are going to functional illiterates who are majoring in texting, facebooking and twittering. Do you think these indebted University of Phoenix dropouts living in their parents’ basements are going to spur a housing and retail sales recovery? This Keynesian “solution” was designed to produce the appearance of recovery, convince the masses to resume their debt based consumption, and add more treasure into the vaults of the Wall Street banks.

The master plan has failed miserably in reviving the economy. Savings, capital investment, and debt reduction are the necessary ingredients for a sustained healthy economic system. Debt based personal consumption of cheap foreign produced baubles & gadgets, $1 trillion government deficits to sustain the warfare/welfare state, along with a corrupt political and rigged financial system are the explosive concoction which will blow our economic system sky high. Facts can be ignored. Media propaganda can convince the willfully ignorant to remain so. The Federal Reserve can buy every Treasury bond issued to fund an out of control government. But eventually reality will shatter the delusions of millions as the debt based Ponzi scheme will run out of dupes and collapse in a flaming heap.

The inevitable shuttering of at least 3 billion square feet of retail space is a certainty. The aging demographics of the U.S. population, dire economic situation of both young and old, and sheer lunacy of the retail expansion since 2000, guarantee a future of ghost malls, decaying weed infested empty parking lots, retailer bankruptcies, real estate developer bankruptcies, massive loan losses for the banking industry, and the loss of millions of retail jobs. Since I always look for a silver lining in a black cloud, I predict a bright future for the SPACE AVAILABLE and GOING OUT OF BUSINESS sign making companies.

On Dignity and Comparative Wealth

Repost from another part of the Topic For Discussion debate on Economic Undertow, this time trading ideas with Sandor.

Discuss this further inside the Diner

Re

Sandor says:

I like the platform, however I doubt that more than 5% of Americans will. The culture rejects the notion of ‘limits’ and ‘you can’t do that’. Responsibility may be the root virtue, but our culture misinterprets this concept as ‘guilt’ or ‘lawsuit’ or ‘superiority’.  Most Americans eschew the idea of responsibility from the get-go. They want to be irresponsible, to consume 25% of the global energy supply, and face no consequences. Even the Occupy Wall Street crowd doesn’t get it. They seem to think that all deserve $20/hr because they are… American. Never mind the $2/day laborer in India.

There are several third parties in this country already. Why are they marginalized in a ‘free press’ culture? Inertia, herding instinct, the embedded value of money channeled through familiar channels. Most Americans are not idealists or philosophers. They want their goodies. Now they want their jobs back. But not at $5/hr. That’s ‘unfair’. The first step I’ve taken with other Americans is to suggest boycotting all Democrats and Republicans, period, no exceptions. If you do that, then you have to start *thinking* beyond throwing the light switch on or off. If you can get that far, then start talking about the dangerous and seductive lie of perpetual ‘growth’.

I actually think if you can write an entertaining screenplay for a risk-taking, savvy Hollywood producer starring teenagers or superheroes that introduces these concepts and follows the thoughts through, you will have a far greater effect on the political discourse of the future than trying to jumpstart a better Tea Party.

  • “Even the Occupy Wall Street crowd doesn’t get it. They seem to think that all deserve $20/hr because they are… American. Never mind the $2/day laborer in India.”-Sandor

    No, I think 99%/OWS/J6P feels he deserves $20/hr because Jamie Dimon takes home $20,000/hr.  If the economy is structured so you NEED $20/hr just to meet the bills, then yea J6P deserves that for his work.

    What does $20/hr buy you Sandor?  That translates to around $40K/year, of which you lose $10K right off the top in taxes.  Then pay your medical insurance, fuel bills yadda yadda and if you can make ends meet without going into debt you are doing pretty good.

    The economies of places like Egypt where people subsist on $2 a day are entirely different in structure.  If that is what J6P will be paid here, your RE valuations are going to have to drop [b]substantially[/b], more than an order of magnitude since they are already unaffordable at $20/hr.  Really, you couldn’t even FEED yourself here on $2/day, even buying the cheapest foods on the Walmart Shelves.

    Not saying that J6P would be happy living on a $2/day wage, but he might live with it if Lloyd Blankfein is not out there pulling down $20K/hr for sitting on his ass and losing taxpayer money.  Inequitable Wealth distribution is the driver behind the $20/hr “demand” of OWS/J6P.

    As long as there is enough wealth out there, EVERYBODY deserves a wage that will allow them to live with some dignity inside their economic system.  A system which allows a few to take great wealth at the expense of the many is not sustainable, and will not be sustained.  Count on it.

    RE

    • Sandor says:

      My point is that OWS is using the wrong metric. It doesn’t matter what Jamie Dimon makes. It doesn’t matter that there are billionaires. What matters is how many people are on the planet, how much energy needs to be converted to maintain the ‘dignity’ you speak of for all 7 billion people. The unemployed living off the govie dole in the USA have it better than billions of ‘hard-working’ people on the planet. If by dignity you mean a job that doesn’t involve indentured servitude, there are plenty of places in the world where one can apply physical labor for 8-12 hrs a day every day of the year and live a subsistence lifestyle with ‘dignity’.

      OWS doesn’t get it. Americans, for the most part, have elevated expectations of ‘dignity’. That’s all fine. Aim high, etc. It’s all about ‘fairness’ until you start talking about the $2/day Indian. Then the concept of ‘fairness’ goes right out the window. It’s shortsighted and hypocritical. If there are more people than an economy needs, the people need to move, or they will have to be fed the scraps. And paying people not to work breeds a dependent underclass of people who lose hope in themselves.

      I have no objections to a Swedish style system with far greater income equality. But even they have wealthy industrialists. Income redistribution in and of itself is not the answer. The values of the culture have to change. American workers don’t want income ‘equality’. Not really. If they did, they wouldn’t vote for the clowns who hand out tax breaks to corporations and millionaires. Most Americans have refused to engage the issue of overconsumption and energy waste. And even many who do continue to support the corporatocracy because they ‘have to work with the system to get anything done.’ Steve’s Responsibility Party wants to get people to say ‘the (binge) party’s over’ while the music still plays and the booze flows. Buzzkill. Chicken Little doesn’t score big points in the USA until the sky falls. Americans will probably have to hit bottom before a third party is welcome with open arms.

      • “My point is that OWS is using the wrong metric. It doesn’t matter what Jamie Dimon makes. It doesn’t matter that there are billionaires. What matters is how many people are on the planet, how much energy needs to be converted to maintain the ‘dignity’ you speak of for all 7 billion people.”-Sandor

        It DOES matter what Jamie Dimon makes.  1 person making $10M/yr is the equivalent of 1000 people making $10K/yr.  People who see that and the wasteful and consumptive lifestyles of the rich and famous don’t see why they should not have a piece of this pie also.  Your not going to encourage conservation when those at the top waste the most.

        Dignity is a relative thing in a society.  In a poor farming community in the 3rd world, you live a dignified life if you have a hovel to sleep in and can keep a decent part of the produce from the land you work.  You do not live a dignified life if its taxed from under you or you can’t sell the produce at a price which allows you to buy the other items a dignified life requires in that society, like clothes.  Some societies don’t even require clothes to live a dignified life, but they are few and far between these days of course.

        Inside the society created during the Age of Oil, a dignified life meant having a house powered by electricity with a refrigerator to preserve food and hot and cold running water and flush toilets.  I remember when I was a kid recently returned from Brasil when we didn’t have a car.  To get our groceries, my mom would walk 6 blocks pulling a shopping cart.  Relative to the norm around us, this was undignified.

        In my mother’s youth, she lived in a cold-water tenement on the lower East Side of New York, and her mother ran a rag shop to make ends meet during the Great Depression.  Relative to the Fat Cats on the Upper East side, they were living an undignified life.

        Cross culturally speaking, obviously we cannot all afford the energy required to live a dignified life by the standards of the Age of Oil, the problem would be working the society back toward a situation where living in cold water flats and pulling your groceries in a shopping cart is relatively dignified.  This is not going to be the case if right under your nose the Elite of your society a Globe Trotting in Gulfstream V Private Jets, so what the 1% STEALS here is very important.

        Before you can lower the expectations of the society as a whole, the leadership of that society needs to come back down to earth and land those Private Jets.  Until then, J6P will EXPECT a $20/hr wage to live a dignified life in this society.

        RE

Knarf plays the Doomer Blues

https://image.freepik.com/free-icon/musical-notes-symbols_318-29778.jpg

Support the Diner

Search the Diner

Surveys & Podcasts

NEW SURVEY

Renewable Energy

VISIT AND FOLLOW US ON DINER SOUNDCLOUD

" As a daily reader of all of the doomsday blogs, e.g. the Diner, Nature Bats Last, Zerohedge, Scribbler, etc… I must say that I most look forward to your “off the microphone” rants. Your analysis, insights, and conclusions are always logical, well supported, and clearly articulated – a trifecta not frequently achieved."- Joe D

Archives

Global Diners

View Full Diner Stats

Global Population Stats

Enter a Country Name for full Population & Demographic Statistics

Lake Mead Watch

http://si.wsj.net/public/resources/images/NA-BX686_LakeMe_G_20130816175615.jpg

loading

Inside the Diner

Quote from: edpell on Today at 10:06:55 AMIn response to the depraved Indian film maker. Women need to be armed with both open carry and concealed carry hand guns. Self defense needs to be part of the basic public school...

Quote from: Surly1 on Today at 02:51:32 AMQuote from: moniker on December 07, 2019, 03:33:47 PMQuote from: K-Dog on December 07, 2019, 06:16:14 AMThis is why we are into doo...

In response to the depraved Indian film maker. Women need to be armed with both open carry and concealed carry hand guns. Self defense needs to be part of the basic public school education. 

Quote from: azozeo on December 07, 2019, 03:15:55 PMLet's throw in a professional scientific "Indigenous" opinon....David Lonebear ...

Locals say visitor numbers have dried up along with the falls.For decades Victoria Falls has drawn millions of holidaymakers to Zimbabwe and Zambia to watch southern Africa's Zam...

Recent Facebook Posts

No recent Facebook posts to show

Diner Twitter feed

Knarf’s Knewz

Quote from: edpell on Today at 10:06:55 AMIn respo [...]

In response to the depraved Indian film maker. Wom [...]

Locals say visitor numbers have dried up along wit [...]

Train and metro strikes enter fourth day as prime [...]

Hundreds of thousands snaked their way through t.. [...]

Diner Newz Feeds

  • Surly
  • Agelbert
  • Knarf
  • Golden Oxen
  • Frostbite Falls

Doomstead Diner Daily December 8The Diner Daily is [...]

Doomstead Diner Daily December 7The Diner Daily is [...]

[img width=600]https://scontent.forf1-2.fna.fbcdn. [...]

Quote from: azozeo on December 05, 2019, 12:18:35 [...]

Quote from: UnhingedBecauseLucid on March 18, 2019 [...]

CleanTechnicaSupport CleanTechnica’s work via dona [...]

QuoteThe FACT that the current incredibly STUPID e [...]

Quote from: edpell on Today at 10:06:55 AMIn respo [...]

In response to the depraved Indian film maker. Wom [...]

Locals say visitor numbers have dried up along wit [...]

Train and metro strikes enter fourth day as prime [...]

Hundreds of thousands snaked their way through t.. [...]

Scientists have unlocked the power of gold atoms b [...]

Quote from: azozeo on August 14, 2019, 10:41:33 AM [...]

Wisconsin Bill Would Remove Barrier to Using Gold, [...]

Under extreme conditions, gold rearranges its atom [...]

The cost of gold futures on the Comex exchange inc [...]

OK, I gave it to myself.    Guaranteed FREE Shippi [...]

The remission is OVAH!  The Cancer is BACK!  I got [...]

1 week, even 2 here in Alaska is total BULLSHIT! Y [...]

Now UP on GEI!  REposted on 01 December 2019A Worl [...]

Alternate Perspectives

  • Two Ice Floes
  • Jumping Jack Flash
  • From Filmers to Farmers

Missing In Action By Cognitive Dissonance     As a very young pup, whenever I was overdue and not ho [...]

Politicians’ Privilege By Cognitive Dissonance     Imagine for a moment you work for a small or medi [...]

Shaking the August Stick By Cognitive Dissonance     Sometime towards the end of the third or fourth [...]

Empire in Decline - Propaganda and the American Myth By Cognitive Dissonance     “Oh, what a tangled [...]

Meanderings By Cognitive Dissonance     Tis the Season Silly season is upon us. And I, for one, welc [...]

Event Update For 2019-12-06http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2019-12-05http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2019-12-04http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2019-12-03http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

Event Update For 2019-12-02http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.htmlThe [...]

With fusion energy perpetually 20 years away we now also perpetually have [fill in the blank] years [...]

My mea culpa for having inadvertently neglected FF2F for so long, and an update on the upcoming post [...]

NYC plans to undertake the swindle of the civilisation by suing the companies that have enabled it t [...]

MbS, the personification of the age-old pre-revolutionary scenario in which an expiring regime attem [...]

Daily Doom Photo

man-watching-tv

Sustainability

  • Peak Surfer
  • SUN
  • Transition Voice

First cut of the Madrid climate summit"“Buying an offset to fly here is absurd. It takes decades for a tree to grow enough to recoup [...]

"The drift towards near-term human extinction must be averted at all costs."I confess. I a [...]

"Since 2005, winters in Mexico have been my Hemingway Machine."  As winter descends upon m [...]

Waterboarding Flounder"Serious oxygen loss between 100 and 600-meter depths is expected to cover 59–80% of the ocean [...]

Of Warnings and their Ripple Effects"We need wooden ships, char-crete buildings, bamboo bicycles, moringa furniture, and hemp cloth [...]

The folks at Windward have been doing great work at living sustainably for many years now.  Part of [...]

 The Daily SUN☼ Building a Better Tomorrow by Sustaining Universal Needs April 3, 2017 Powering Down [...]

Off the keyboard of Bob Montgomery Follow us on Twitter @doomstead666 Friend us on Facebook Publishe [...]

Visit SUN on Facebook Here [...]

What extinction crisis? Believe it or not, there are still climate science deniers out there. And th [...]

My new book, Abolish Oil Now, will talk about why the climate movement has failed and what we can do [...]

A new climate protest movement out of the UK has taken Europe by storm and made governments sit down [...]

The success of Apollo 11 flipped the American public from skeptics to fans. The climate movement nee [...]

Today's movement to abolish fossil fuels can learn from two different paths that the British an [...]

Top Commentariats

  • Our Finite World
  • Economic Undertow

My new post is pretty much done, but I wanted to wait until the end of the weekend to put it up. [...]

I wonder whether this has been fully thought through. If something goes wrong, clearly the whole thi [...]

One of the big questions is, "Do you count all of these things with virtually no value as part [...]

There was no Iranian missile attack. That claim is pure Israeli propaganda, designed to further thei [...]

How DARE THEY! World’s Biggest Oil-Refining Tower Completes 11,000-Mile Voyage Anthony Osae-Brown, T [...]

That was a good piece - not sure that was exactly what Steve was saying about Marx and industrializa [...]

Steve wrote a couple of articles last year, Marx & Debtonomics: https://www.economic-undertow.co [...]

Wait - when did Steve say that about Marx? I must have missed an interesting discussion along the wa [...]

@Ellen, I concur with Steve that Marx understood the problems with capitalism but failed to place th [...]

Well said. I would only argue that we, in effect, have MMT already. It hasn't failed yet. [...]

RE Economics

Going Cashless

Off the keyboard of RE Follow us on Twitter @doomstead666...

Simplifying the Final Countdown

Off the keyboard of RE Follow us on Twitter @doomstead666...

Bond Market Collapse and the Banning of Cash

Off the microphone of RE Follow us on Twitter @doomstead666...

Do Central Bankers Recognize there is NO GROWTH?

Discuss this article @ the ECONOMICS TABLE inside the...

Singularity of the Dollar

Off the Keyboard of RE Follow us on Twitter @doomstead666...

Kurrency Kollapse: To Print or Not To Print?

Off the microphone of RE Follow us on Twitter @doomstead666...

SWISSIE CAPITULATION!

Off the microphone of RE Follow us on Twitter @doomstead666...

Of Heat Sinks & Debt Sinks: A Thermodynamic View of Money

Off the keyboard of RE Follow us on Twitter @doomstead666...

Merry Doomy Christmas

Off the keyboard of RE Follow us on Twitter @doomstead666...

Peak Customers: The Final Liquidation Sale

Off the keyboard of RE Follow us on Twitter @doomstead666...

Collapse Fiction

Useful Links

Technical Journals

Deterministic–stochastic empirical mode decomposition (EMD) is used to obtain low-frequency (n [...]

At the sub-national level, the United Nations Convention to Combat Desertification (UNCCD) proposes [...]

The recent droughts in the American Southwest have led to increasing risks of wildfires, which pose [...]