- Financial Survival Network
- Posts
- The Insanity of CNN’s Alleged ‘Business’ Desk
The Insanity of CNN’s Alleged ‘Business’ Desk
by Karl Denninger Market-Ticker.org
These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts.
Several forces are pushing chains out of some city centers: a glut of stores, people working from home, online shopping, exorbitant rents, crime and public safety concerns, and difficulty hiring workers.
….
The typical office worker is now spending about $2,000 to $4,600 less per year in city centers, according to research from Nicholas Bloom, a Stanford University economist.
Think about that that last line for a minute.
Then contemplate this line: