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10 Comments

1. re:
   Sears

   I grew-up on a farm, and my grandparents took me to Sears Roebucks for my extensive wardrobe of flannel and denim… for one reason. Those clothes were tough to wear out.

   Now, with news of them shutting down, I feel like a part of my heritage is missing.

   But I still own the Ted Williams 30.06 my Aunt Jane and I bought sometime in the early 1960s.

2. re: Sears

   I agree on this American institution. When I was just a young boy, my father would take me to Sears to see all of the goods, tools, work clothes, and other things that working people need. He would buy tools and sometimes gloves or other work gear and I would get jeans, shirts, and Converse brand tennis shoes.

   It is sad to see this once-great store brought low by its own self-inflicted wounds. At one time, Sears was a retail power-house. It was ‘the men’s everything store’. Sears stood behind their Craftsman brand tools. If it ever broke, they gave their customers a new one without any protest whatsoever.

   But where they went wrong, IMO, is that they went from being a store that did one thing incredibly well to a store that did everything in a mediocre way. For me, Sears went from the “go to” place to a place that I did not care if I went at all. It’s a real shame but things change over time and not always for the best.

3. Venezuela

   I think the left has moved past the ‘it wasn’t real socialism’ game and onto blaming capitalism for everything. Never, of course, knowing what capital is or from where it comes.

   1. Fred

      I think you make an excellent point. The vast majority of people do not have an accurate understanding of how true capitalism or true socialism/communism work, so they have no true comprehension of how there own economy works. This lack of knowledge has contributed to the vast majority of the populace being left behind and, as such, feeling “victimized” by capitalism because they do not understand how to excel under it. So when someone offers them socialism under its false pretenses, it is appealing because they falsely reason “it can’t get much worse than what I have”. This is how socialism survives despite being debunked time and again in practice. “My people perish for lack of knowledge”

4. SEARS downfall was switching to cheap Chinese tools. Our family was loyal to buying American made Craftsman products. Screw them for ignoring us. Hopefully it can be saved and turned around…

5. Sears was the Amazon of it’s day. I remember the quarterly catalogs had everything from the smallest of items to car engines and motorcycles (motor bikes, actually). Heck, they even sold cars under the Sears name. They were also the IKEA of it’s day, selling all types of furniture and even houses. The Craftsman houses were kit homes sold by Sears Roebuck and Co.

   Sears downfall: First they started reducing products and services. You used to be able to get that engine you ordered from the catalog installed at the service facility at your local Sears store. Now it’s just tires and batteries and services you can get anywhere. Nothing special.

   Then the reduced their product line, eliminated their catalogs, and basically became nothing special, on steroids.

   They merged with K-Mart. Whose “brilliant” idea was that? K-Mart who couldn’t or wouldn’t attempt to compete with Walmart and Target. K-Mart who used to be something special, became, like Sears, nothing special. Merging two nothing specials, twice nothing is still nothing.

   So Sears becomes, just like Montgomery Ward, relegated to the dust bin of history. J.C. Penny is not far behind.

   So far, at least, Walmart and Target are making a serious attempt to compete with Amazon. If they go down, where would be the competition that is absolutely necessary to keep prices in check.

6. Re: Venezuela

   Despite all of this, I am more than willing to wager Bernie Sanders 2020 will spread in popularity well beyond Millenials into the disgruntled Union member middle class who find themselves dissatisfied with their normally embraced Democratic candidate. History has shown again and again that people get exactly the government that they deserve. If you think Sanders can’t win in ‘20, remember what people said about Trump in ‘16. Dangerous times we live in.

7. Where I live there was a great place to put a K-Mart store when they decided to build one here about 20 years ago. Everyone that lived to the east of town had to go all the way across town to get to Walmart or any other large store such as JC Penney or Sears. Guess where they put it. Right across the road from Walmart. It lasted for about 2 years before closing. Walgreens and CVS do the same thing in almost every town in which they are located. Group think is not thinking.

8. My heart goes out to the people of Venezuela. I hope things improve soon for them.

9. I’m still reading through everything, but looking at your tangible investing section (which I love, and it keeps me coming back for more articles) I was wondering if you would ever consider posting a round up article collecting all your advice on different areas of tangible investing that you’ve made? Maybe it could be an annual thing.

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