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b'Summary: The retail sector is in worse shape today than it was in 2008 during and immediately following the financial crisis. Retailing has been responsible for 10% of the jobs gained during this so-called recovery. Clearly part of the problem is the increase in minimum wage.\\xa0 Why are retailers adding so many jobs when their business is declining?
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\\n \\t* A quick little announcement at the beginning of this podcast; I\'m going to try to keep the length of these podcasts down to 20 minutes in the future
\\n \\t* It seems we have quite a bit of audience falloff after about 17 minutes
\\n \\t* We\'re also skipping our ads at the end in favor of more informative content about Euro Pacific Capital, SchiffGold, Goldmoney and Euro Pacific Bank.
\\n \\t* So I am going to do these shorter podcasts more frequently
\\n \\t* First of all, it\'s the RetailPocalypse, which I have been talking about on this podcast that, from my perspective - not just my perspective,
\\n \\t* In reality, the retail sector is in worse shape today than it was in 2008 during and immediately foll0wing the financial crisis
\\n \\t* We got a lot of bad news from the retailers this week
\\n \\t* Including JCPenny and Nordstrom\'s - horrible sales from these companies
\\n \\t* We had other retailers earlier in the week that came out with bad news
\\n \\t* Kohl\'s Department Store, Dillards
\\n \\t* Kohl\'s stock is at 36.5 as I record this
\\n \\t* That stock\'s high was $75-$80 in the summer of 2015
\\n \\t* So it\'s down 60% or so
\\n \\t* Dillard\'s is at a 52-week low today, at just under $47
\\n \\t* That was over $120 - more than a 50% decline
\\n \\t* Macy\'s was down another 3% today - a new 52-week low
\\n \\t* Macy\'s is at $23.60 -it was a $70 stock
\\n \\t* These are huge markdowns for retail stocks
\\n \\t* Look at Nordstrom\'s - down almost 11% today on the bad news
\\n \\t* $41.20 - Nordstrom\'s was an $80 stock is one of the best performers
\\n \\t* JCPenny is going to get the prize for the biggest decline overall
\\n \\t* This stock\'s been falling for a long time
\\n \\t* It closed today at $4.55
\\n \\t* A lot of people are very complacent - they say, "Oh, it\'s no big deal because it\'s all about e-commerce
\\n \\t* Everybody is shopping online
\\n \\t* Look at Amazon - Amazon stock hit a new 52-week high today
\\n \\t* All time high, not just a 52-week high
\\n \\t* Jeff Bezos is on the way to being the richest man in the world
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