The Canary in the Retail coal mine has just taken very, VERY, ill. Dollar General, the retail chain that is found in almost every low income, urban, area, saw its stock price plunge 29.43% TODAY.
The company said publicly it is because its customers 'feel worse off.'
Adding to investor concerns, Dollar General significantly lowered its full-year outlook, attributing part of the downgrade to the financial struggles of its core customer base.
The company noted that many of its customers “feel worse off,” reflecting the broader economic pressures affecting consumer spending.
On Thursday afternoon, the stock was trading around $87.
Hal Turner Analysis
In many respects, Dollar General is a sort of Canary in the (retail) coal mine. Years ago, Miners working deep underground, brought Canaries in cages with them for fear of natural gas, carbon monoxide, and a host of other deadly gases. If the Canary passed-out, or dropped dead in the cage, the miners knew to evacuate the mine immediately because death was coming for the miners themselves if they didn't leave immediately.
Dollar General has had good stock value and performance because their core customer base, the low-income folks, are in abundant supply.
Today, the Canary in the retail coal mine got noticeably sick and those with any brains, KNOW this is a major league, bad economic sign.
When the poor are SO POOR they can't even afford to go to Dollar General, the economy is in a bad downward spiral.
THAT is exactly the warning sign everyone got today, as Dollar General's stock value plummeted 29.43% in ONE DAY.
Most of us have known for the better part of two years, things were not right. E V E R Y T H I N G was suddenly getting noticeably more expensive; especially food.
Energy costs, that had peaked with gasoline around $6. a gallon, eased back to around $3.XX but then a lot of us noticed that the product packaging, was smaller. In most cases, the price of a product remained the same, but the quantity of the product was reduced.
Take Tuna fish, for example. The price had gone up to about $1.50 for a 6 oz. can, then all of a sudden . . . . . ALL of the Tuna fish cans became only five ounces. ALL OF THEM!
No industry collusion there. No anti-trust violations there. HMMMMMM.
Portions of other products took nose-dives as well.
But now, even Dollar General is seeing a major reduction in revenues. And this reduction is from a customer base that does not spend extravagantly because . . . well . . . . they can't.
So while we've been seeing the prices go up, the product sizes go down, things still chugged along economically, NOW we're seeing that the very people who only bought what they absolutely NEEDED, can't even do that anymore.
This is a terrible warning sign that the economy is not only in a recession (which government has lied about by denying it for over a year) it is heading straight and fast, into Depression.
Of course, the Biden voters, ALL of whom are low-information people with little to no intellect or ability to discern truth from lies, have bought the lies in the mass media that the economy is good.
Naturally, those same low-information and almost zero intellect Biden supporters will never make the connection between who they vote for and what they're encountering in real life. They deny what life is proving to them, and believe the lies they hear and see on TV and radio.
Stupid is as stupid does.
Those of us who actually have the ability to see facts, have known the economy is very sick for quite awhile and it is Biden's socialistic economic policies, and radical environmental policies that have caused it all.
As the November Election approaches, the dumb will keep voting the way they've voted because they're too dumb to figure things out. The rest of us will vote against the present regime. Hopefully, there are still more smart people than dumb. We'll see.
(Unless the Democrats STEAL this election the same way they stole 2020.)
