If you connect the dots from various data, the US economy is speeding on a one lane road that journey's along a cliff. The stock market is at all-time highs. It could even zoom higher if a trade deal is reached. Dear Reader, you know my views on trading with China. They are thief's and thug's. We should never trade with someone who makes so many unscrupulous demands and uses, "saving face" as some sought of holy grail to doing business with them. With that said I remind you what Stalin concluded about the West, "They will denounce us in public, but they will throw open anything to do business with our market."
He was on the money about one of our weaknesses, money.
Our CEOs only see riches as they forget the price paid for them. The Chinese have destroyed more US jobs than any other outsourcing nation. You combine the effects of lost jobs, a bleak future along with excessive money printing and debt by our government to which points a sad future that has the above economic car skidding along the road and crashing into the abyss over the edge of the road. If that picture was our only problem, we could take some precautions like a rail to protect cars from going off the cliff. The real problem is the quality of thinking. The person in charge of highway construction? The ramifications of printing money and debt? The future ability to protect the nation with the many and various high tech innovations? With that thought in mind add up the following trends.
Retail Management
Retail stores had record closings in 2019. The trend of this situation continues. Management could not see the effects of the internet and the benefits of warehouse selling. These chains announced closings. There will be more as leases expire. Keep in mind that many people work in one store and then, multiply that number by the amount of store closings.
Chico's = 250 stores.
Gap = 230 stores
Office Depot = 90 stores
Bed, Bath & Beyond = 60 stores
C. Banks = 40 stores
CVS = 22 stores (this company is just consolidating).
Lord & Taylor = 2 stores (including New York flagship from 1826).
Kmart = 2 more (one time had 2500).
Sears = 1 more (firm is 130 years old and dying).
Macy's = 1 more (opened in New York in 1851 - needs a "Miracle on 34th Street."
City Leaders
Dear Reader, it is not just corporate that lacks vision, the same weaknesses can be found in city thinking. This is not just a US problem. This happens around the world - China, Russia, everywhere, however I only address US mishaps. The following is examples of poor stewardship of taxpayer's money. The list is ball parks that are either demolished or sit vacant, rotting away. By the way, I conclude that Detroit and Miami are the worst of the worst.
Tiger Stadium, Detroit
Astrodome, Houston
Kingdome, Seattle
Silverdome, Detroit
Shea Stadium, Queens, New York
Orange Bowl, Miami
Stone Mountain Tennis Center, Georgia
Giants Stadium, New Jersey
Buffalo Memorial, Buffalo
Baltimore Memorial, Baltimore
Chicago Stadium, Chicago
Yankee Stadium, Bronx, New York (saddest one of all).
RFK, Washington, D.C.
Miami Marine Stadium, Miami
Civic Center, Pittsburgh
Rubber Bowl, Akron
This is a small sample. The ramifications lead to higher taxes. Real estate taxes are getting so high that people cannot afford to stay in their homes and which many are fully paid. This has lead to homelessness which is a sad, growing problem. The real danger with our so-called leaders is in the military. These commanders make the same mistakes as retail management and city governments except their screwups could put all of us in harm's way. I direct your attention to our navy's latest warship, The USS John F. Kennedy. I love the man, but I hate to see his name connected to future disaster on the high seas. Why, you ask?
History Class
After WWI Billy Mitchell tried in vain to get the navy to develop air power and especially, to use aircraft on ships, the aircraft carrier. He was court-marshalled for fighting the navy and the army over his ideas. He had vision. They were like our retail and city leaders of today. Battleships were the most powerful weapons in that age. Mitchell claimed planes could sink these boats. By WWII, the navy realized that he was right. Today, he is recognized as the father of the USAF.
Today
We have techno advancements in mapping and rocket power. Smart bombs can be directed to search beneath the seas like a sub with a destination. That destination could be any aircraft carrier in any waters in any location. The boat is obsolete. The navy has no vision. They should address high-tech and develop subs with these smart bombs as torpedoes to attack an enemy anywhere. In addition, the USS JFK is over budget with original estimates of $11.68 billion. There will be 4900 soldiers on this floating city of death with 75 expensive aircraft. They are fighting the next war with WWII ideas. This is the sad point of this piece. It gets worse. The next carrier after the JFK ship will be built digitally. I understand why. The use of computers will cut costs except the navy forgets that computers can be hacked. Every ship will have an unseen danger in its design. If the ship has been hacked, it is basically dead in the water. Our future navy will be useless in defense of the nation. Please, add an override to the vessel to ensure that a captain has complete control of his ship. If you think that all this is much ado about nothing, consider the latest release on the war in Afghanistan. It states that our government and our military have done nothing but lie about the involvement in the Middle-East nation. We are being led by corrupt idiots!
