“Walmart, Target and other major U.S. retailers are literally canceling billions of dollars in orders ahead of the coming holiday season,” Michael Snyder writes in The Economic Collapse Blog.
This makes absolutely zero sense.
Do these major retailers know something is about to go down?
The holiday season is typically the busiest time of year, and at this time in 2021 there were concerns the global supply chain couldn’t handle enough inventory.
It’s the opposite in 2022.
“All of a sudden major retailers are feverishly canceling orders, and this would only make sense if a severe economic downturn was imminent,” Snyder adds.
For example, Walmart admitted that it has canceled “billions of dollars in orders” as the upcoming holiday season approaches.
From Retail Wire:
John David Rainey, Walmart’s EVP and CFO, said it had cleared most summer inventory, was reducing exposure in electronics, home and sporting goods, and canceled “billions of dollars in orders” to realign inventories. He said, “Our actions in Q3 will allow us to make significant progress toward rationalizing absolute levels and mix, which will enable our stores to be well positioned ahead of the holiday season.”
Meanwhile, Target canceled “more than $1.5 billion” in orders.
Via End Time Headlines:
Christina Hennington, Target’s EVP and chief growth officer, said steps being taken by the discounter’s buying team include “rigorously reforecasting expectations for the balance of the year and beyond and determining where to reduce future receipts and orders.
Kohl’s and Under Armour have also canceled a large number of orders.
Footwear News writes:
Kohl’s has also pulled back on order receipts and increased promotions to get through an inventory glut.
“We have taken action to address inventory, including increasing promotions, being aggressive on clearing excess inventory and pulling back on receipts,” said Kohl’s CFO Jill Timm in a call with investors.
Under Armour also said it made some proactive cancellations due to supply chain constraints to ensure that “the right inventory was coming in at the right time,” said interim president and CEO Colin Browne in a call with investors.
He told CNBC’s Jim Cramer that he believes a recession is impending for the global economy.
Snyder writes in The Economic Collapse:
Sadly, he is right on target.
For months, I have been warning that the economic numbers were telling us that big trouble was on the way, and now everyone can see it.
But unlike the “Great Recession” of 2008 and 2009, this time we are also going to have to deal with raging inflation even as economic activity slows down all around us.
In fact, the Wall Street Journal is ominously warning that U.S. consumers “are set to pay even more this winter” as heating costs continue to soar to absolutely ridiculous levels…
U.S. utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb.
Natural-gas prices have more than doubled this year because of a global supply shortage made worse by the war in Ukraine, and they are expected to remain elevated for months as fuel is needed to light and heat homes during the winter. The supply crunch has made it substantially more expensive for utilities to purchase or produce power, and those costs are being passed on to customers.
The cost of living has been rising much faster than our paychecks have for quite some time now, and a lot more pain is on the horizon.
I really like how Brandon Smith recently summarized the current state of the U.S. economy…
A common refrain from people who are critical of alternative economists is that we have been predicting crisis for so long that “eventually we will be right.” These are generally people who don’t understand the nature of economic decline – It’s like an avalanche that builds over time, then breaks and quickly escalates as it flows down the mountain. What they don’t grasp is that they are in the middle of an economic collapse RIGHT NOW, and they just can’t see it because they have been acclimated to the presence of the snow and cold.
Economic decline is a process that takes many years, and while you might get an event like the market crash of 1929 or the crash of 2008, these moments of panic are nothing more than the wreckage left behind by the great wave of tumbling ice that everyone should have seen coming far in advance, but they refused.
That is so true.
We are already in the midst of a raging economic crisis, but things will get so much worse during the months and years to come.
Stock Market “COLLAPSE” Is Coming, Here’s How To Prepare
Joe Biden’s stock market collapse is imminent…
So says my good friend Bo Polny, the Analyst of Time, who returned to my show this week and something was different with him.
He had a sense of urgency.
A focus unlike what I’ve seen before.
He was dialed in and as serious as I’ve ever seen him.
Because we’re coming up on a date he’s been watching for over 18 months!
A big one.
“Biblical” is a word he through out.
I would say this was one of the best and most important times we’ve ever had with Bo on the show.
In fact, I called and asked a special favor to have him back on earlier than normal because I knew we were coming up on one of the most important dates Bo has been talking about for a LONG time.
Definitely over a year, probably more like 18 months.
You can go back and watch all our old interviews, that’s what’s so cool…it’s all in there!
Bo has been saying that the end of the 50 Year Jubilee on September 24/25 is going to be historic.
“Biblical” was Bo’s word, and a very carefully chosen word.
We had planned to only talk for 30 minutes, but then we got going and the rest was history!
Bo always has so much interesting information I find it almost impossible to cut off the interview at 30 minutes.
And I hope you enjoy the bonus, because we were rolling!
We covered the Queen’s death (murder?) and it’s prophetic significance….a lot of numbers wrapped up in that one!
We talked about Charles and what his impact will be.
We talked about how America is now free from the Harlet, and the Beast she was riding is now riderless.
So many good nugget in there…
But that was just the beginning!
Then we talked Stock Market Crash.
Actually, that’s not right.
Bo corrected me.
He said it’s not going to be a “Crash”, it’s going to be a “Collapse”.
Which, as you can guess, is much worse.
And it’s just around the corner according to Bo’s time cycles.
Then the biggest thing everyone always wants to know: what about Bitcoin and Cryptocurrencies?
Oh baby did we cover that!
Spoiler alert: major move coming soon.
We’ve had 3-4 months of boring, sideways action (which Bo told us would happen in his Newsletter), but now?
Now the dull days of summer are nearly over and explosion is coming.
We talk in the interview about whether that explosion is UP or DOWN.
The interview was just plain awesome, not because of me but because Bo is such a wonderful human being and he came loaded with info!
I’m really just scratching the surface here….
We moved fast and we covered a LOT of ground.
I WANT YOU TO BE PROTECTED AND WE DISCUSS EXACTLY HOW TO DO THAT IN THE INTERVIEW!
So please watch for yourself and enjoy right here on Rumble:
And as promised, I have all the links you’re looking for right here below the video:
👉 Download Bo’s slides for free: https://qrco.de/bdKTQ5
👉 If you want Bo’s trading Newsletter, go to https://www.gold2020forecast.com/cryptocurrency-index ➡️ use code WLT49. (LIMITED TIME)
💥 For access to the Easy Crypto School, go to https://www.easycryptoschool.com ➡️ use code WLT49. (LIMITED TIME)
Those discount codes are very generous from Bo, but only good for a short time and then they shut off.
So take advantage of those if you’re interested.
Ever since he first opened up the Easy Crypto School last month, I’ve received SO MANY emails and feedback on that saying how much people love it and I absolutely love to hear that.
That’s why I do what I do and have guests on like Bo.
This stuff is complicated.
And it’s full of pitfalls.
So if you want the “cheat sheet” and crash course on how to do it right and how to learn quickly, you want the Easy Crypto School.
Now, if Rumble doesn’t work for you for some reason, I also have a YouTube backup.