A writer for a company called Belus Capital Advisors released a blog in which he purports to publish a letter from an ex-K-Mart employee in Streater, IL. I grew up not far from there. I have no idea who he is but I do think he accidentally exposed something very important in fact, that the Federal Reserve has had a devastating effect on our middle and lower class, and K-Mart binds us together.
Belus Capital Advisors;
The Sad, but True, Human Story Behind the Dismantling of Once Iconic Sears
“On a final note, I don’t want to hear SHC whining about their 250,000 employees that they clearly care NOTHING about. Ask any one of them to recall the last time they got an EARNED pay raise. At my store, there hadn’t been a raise given in over 6 years.”
We had a K-Mart in this town once. I’m not sure many noticed much when it closed, seemed to me near some tech asset bubble. It’s a hardware store now. We had another two hardware stores for three total but one closed. They should have written a letter to warn Streater, IL; they had good service and character. I bought a big oak from them that I towed home behind my lawnmower- 3 miles each way.
What the writer actually described was the act of inflation on an income that does not rise. Its called Stagflation, and it’s entering problematic levels. I postulate that history will look back and give at least a little credit to companies that kept employees around for one more good credit expansion Christmas for old times sake.
So here we sit, with a letter back from the K-Mart, Streater, IL, of old to warn us again, this time is not different, and I’m afraid that by the time we realize it we will already be in an untenable slope to much bigger things.
I covered it yesterday in, There’s a Housing Bubble Bursting and Libertarian Convention Coming Up. Bad news, Gary Johnson had a conflict. Stand by for updates.
There are things that can be done but it’s going to take more than me admitting there’s a problem.
I’ve been doing that for going on three or four years now. It never changes, it’s always about the money friends. Inflation is robbing us blind.
If you would like to reach the author of the letter I could only find this:
You are welcome to visit out Facebook page (Goodbye K-Mart 9804) to get a sense of how this has affected not only the former employees, but our community as a whole. In a city of 13,000, K-Mart was a life line for some of us, since there aren’t many options here. There were employees who had been at that location for 20+ years, and were tossed out like garbage.”