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Debt Apocalypse KILLING Small Businesses And JOBS!
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In today's video, we're going to look at the potential collapse of independent retail Globally resulting in the loss of millions of jobs. And if these businesses collapse it won't just take the jobs with them, it will also take a chunk of GDP with it resulting in even more unemployment and greater debt levels, and even a double dip recession which could trigger a depression.
Let’s use an example from the UK today:
If you look at the British High Street or any high street for that matter in many Western nations, and you’ll see a very different picture of empty storefronts, graffiti, and even some burned out businesses
I’m going to focus this article on the death blow of this current COVID crisis. But before I do, I also have to acknowledge the advent of Amazon & online Shopping, which has made it cheaper & more convenient to make purchases online. Of course, this has had an impact on our economy and will continue to do so into the future. This we cannot discount because it obviously makes up a large aspect of the demise of many physical businesses.
But there’s something else at play here too, which the media isn’t covering:
Private equity firms are also driving the demise, and when they collapse, it’s much worse for the taxpayer. They come in and buy out the independent retailers, cr..
