The Last Refuge
March 26, 2020
Think about this… How weak and tenuous does a corporate financial position need to be such that being closed for one week means informing all nationwide landlords of your inability to pay the rent next week? Consider this example:
CALIFORNIA – The Cheesecake Factory, one of the most popular sit-down restaurant chains in the country, says it will not be able to make upcoming rent payments for any of its storefronts on April 1 because of significant loss of income due to the coronavirus crisis.
[…] Company chairman and CEO David Overton writes, “Due to these extraordinary events, I am asking for your patience, and frankly, your help.” He continues, “we appreciate our landlords’ understanding given the exigency of the current situation.” The letter says that the company hopes to resume paying rent as soon as possible.
[…] The Cheesecake Factory was founded in Beverly Hills in 1972 and maintains its original location on Beverly Drive, with 39 locations in California. In total, it operates 294 restaurants in 39 states, plus the District of Columbia, Puerto Rico, and Toronto, Canada. In 2019, the company also acquired Phoenix-based Fox Restaurants, including North Italia, Flower Child, and The Henry. Most of the company’s landlords are malls, including Simon and Westfield. (read more)
This is one small example; however, it is an opportunity to imagine the beginning of a process were Blue team corporations start to tell Red team financiers they are refusing to pay their debts.
Expand the mindset to individuals… dependent democrats (blue team), and social justice activists, assemble to tell landlords (red team) they will not pay the rent. It’s going to take off like wildfire.
Can you imagine the size of the smile on Bernie Sanders face if this level of social turmoil were to begin on a national scale?
Think about it…. Very carefully.
The blue team tells auto-lenders we won’t make the car payment etc. It is a social upheaval that starts small, most dismiss it, but it spreads through the “social justice” and “resistance” community just like the coronavirus itself.
Bernie/AOC cheer the new shift and empowerment “of the people”…
See where this has the potential to go? The Democrat Socialists align perfectly with Antifa, Occupy Wall Street and the various “dream defender” groups. You think the yellow vest uprisings were significant….
Perhaps we are about to find out what COVID-19 is all about.
We keep watching.
This article was posted: Thursday, March 26, 2020 at 6:51 am