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POSTED ON May 15, 2017  - POSTED IN Key Gold Headlines

The air continues to come out of the retail bubble. As CNBC put it, “The overarching narrative for much of the retail industry into the first half of 2017 has been store closures and bankruptcies.”

Investors knew retailers were struggling, but it wasn’t until this week’s financial reports that they were able to gauge how much sales had deteriorated due to slowing foot traffic.”

And they have deteriorated significantly. Dillard’s, Macy’s, Kohl’s, Nordstrom and JC Penny all reported dismal first quarter results.  On his most recent podcast, Peter Schiff called it the “retailpocalypse.”

The retail sector is in worse shape today than it was in 2008 during and immediately following the financial crisis.”

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