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Toyland Goes Bankrupt During Shopping Season

Lots of people on Wall Street are fussing this morning about the announcement by Bank of America that it will be firing 35,000 people. I think that it’s far more troubling, however, to see what’s happening in toys.

KB Toys, a chain of toy stores seen in shopping malls across America, is filing for bankruptcy. Many KB Toys stores will also be closed – right in the middle of the winter holiday shopping season.

This announcement, coming when it does, at the time of year when toy stores make most of their profits, reveals that winter holiday shopping is at extremely low levels – as KB Toys put it, “a sudden and sharp decline in consumer sales due to macro-economic forces”. Even if they haven’t lost their jobs yet, people are making the sensible decision of spending less in anticipation of economic disasters yet to come. That means that the kids will have to make due with just one or two new toys instead of the standard twenty-five.

It isn’t just the kids who are going to have thinner stockings this year, though. After all, toy stores for adults like Circuit City are going bankrupt too.

4 comments to Toyland Goes Bankrupt During Shopping Season

  • tom

    The whole unsustainable house of cards is collapsing around us. “Civilization” as practiced by humanity is complete BULLSHIT! Investment in the stock market has been a big lie for as long as they got away with it and now these same Wall Street sharks and banks are grabbing all our treasury money and sinking the economy by freezing the lending of OUR MONEY back to us! Our government hasn’t worked as designed for at least the past 2 presidents – having been taken over by greedy corporations who by and large don’t pay their fair share of taxes, keep workers in debt by freezing salaries and giving only paltry raises, transferred most of the manufacturing jobs (we used to do) to countries that don’t give a shit about labor and exploit their own people (and even children) so that the corporate greed-bags at the top can make ever more money, and have corrupted the political system so that they get the tax breaks, legislation (as well as relaxation of regulation) and corporate welfare while the ranks of the homeless and unemployed here skyrockets.

    Humanity is despicable and we’re ruining the entire planet.

  • Now, Tom, what alternative is there to civilization than that it be practiced by humanity?

  • tom

    Ah, that’s just the point F.G.! We AREN’T being civilized on this planet – in fact, i’d say it’s anything BUT civilized. We aren’t peaceful, we don’t learn (for example that war has not solved any of humanity’s problems for as long as we’ve been on earth), we don’t share or help each other out without ulterior motives, and we are so short-sighted and greedy it’s astounding that we’ve lasted this long.

  • Are you really against ulterior motives, Tom, or are you just using that argument as an excuse so you can get what you really want?

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