From Reuters:
"Disney (DIS.N) shares were down 5.5 percent at $100.71 after the company's results missed expectations as advertising and subscriptions declined at ESPN.
The stock was the biggest drag on the Dow, accounting for about 35 points of the index's 80 points fall. Macy's (M.N) sank 7.8 percent to $34.14 after the department store operator slashed its full-year sales forecasts. Macy's weak report dragged down other department store chains with J.C. Penney (JCP.N), Kohl's (KSS.N), Nordstrom (JWN.N) and Dillard's (DDS.N) falling between 2 to 6 percent."
This is due in no small part to Millennials. Many millennials do not believe in acquiring "things" i.e. buying stuff, stuff that creates jobs and grows the economy. In fact, retail sales account for a large percentage of our entire economy and millies are not contributing as they don't buy much beyond iPhones, tattoos and organic gluten-free food.
The American economy cannot grow and we cannot sustain our economic system without lots of people spending lots of money and acquiring lots of things. That's what creates real jobs in real world America. It's not happening anymore. We can thank the millies and the liberals for that.
In fact, the ONLY reason the stock market is as high as it is is because there are no other good investments where pension funds etc. can invest YOUR money. So all those billions of dollars go into the stock market, and keep stock prices perhaps artificially too high, awaiting a correction, bubble or crash.
To add to the problem, kids are not taught the basics of our economic system in school or at home or, if they are, they're taught that capitalism is bad. Thus, they don't even realize they are dooming themselves, by not spending money and buying things -- and creating jobs for themselves. Plus, liberals also hate capitalism and don't/won't support it.
These are the reasons why millennials will end up with no jobs and no money and living at home with their parents until age 65. You want a good future? Wake up and start spending!
