Sports Authority Cannot Survive Obamanomics

Liberals like tweaking economic numbers to paint a rosy picture of their failed economy under Obama, yet the truth is found in the thousands of business closures of what were once profitable stores.  Obama has destroyed this economy, implementing a recovery plan that has never worked in reality and only pencils well in the world theory and speculation.

Liberals will be hard pressed to tout Obama’s economic success after the retail apocalypse has been fully realized, writes Truth and Action.

With thousands of stores being closed across the country, the Federal Reserve will have a hard time propping up our failed economy with QE and zero-interest polices after confidence is finally completely shattered

Giants like Walmart, Sears, and Kmart, retailers that employ, as well as, meet the supply and demand needs of a majority of Americans, have closed their doors forever because of Obama’s daft belief that one can tax a nation into prosperity.  An example of this failed was seen in his cash for clunkers, a Keynesian flawed disaster that had zero lasting impact.

The liberals illogical belief that if one increases government spending, deficits and debt, the economy will recover has never worked in the real world, as printing monopoly money to increase demand and lowering interest rates artificially to promote spending only results in inflation.  There has never been a tried and true Keynesian economic recovery that has worked.

This brings us back to the demise of Sports Authority.  The Obamanomics has killed retailers across the country and Sport Authority is just another victim.

Sports Authority, the struggling chain which filed for bankruptcy in March, is weighing a sale of its assets that could be end up closing most if not all of its 450 stores.

Under its original bankruptcy filing, the chain had planned to close 140 stores and to keep the rest open under the Sports Authority name. But attorneys for Sports Authority notified the federal bankruptcy court in Delaware last week that it could not win approval for that reorganization plan from its creditors and lenders.

Sports Authority is “pursuing a sale of some or all of the business,” said a statement from the company. “We have received initial expressions of interest from a number of potential buyers, and we are optimistic about the results of the [sale] process. The outcome of the…process will determine whether any additional store closings will be required.”

Truth and Action has shared that the “US economy has only been supported by the vast money printing, known as quantitative easing, and the suppression of interest rates. The feds raised rates last month after nearly a decade and will be forced to suppress them again. We have and enormous, completely unrepayable debt that cannot tolerate a rise in rates. We will see another crash this year of historic proportions and it will be followed by a lowering of rates if it doesn’t happen beforehand, and another squashing of rates.”

A large number of large chain stores are suffering from our failing economy, resulting in closures and mass layoffs.  From Macy’s, to Walmart and the John Deere, the largest manufacturer of farm equipment, none have been immune to government overreach and the failure that is Keynesian economics, points out Truth and Action.

Full employment obviously cannot occur if stores like Sport Authority close.  The retailer employs roughly “14,500 full- and part-time employees at its 450 stores”.  This is just a drop in the ocean of unemployment due to the ‘retail apocalypse’ created by Obamanomics.

The next President is inheriting over a decade of economic demise and the country cannot survive with more liberal insanity.

Source: CNN