by Michael Snyder
The Economic Collapse Blog
Initially, we were told that the coronavirus lockdowns would just “temporarily” disrupt the U.S. economy, but now it is becoming clear that a lot of the damage will be permanent. We are starting to see businesses go belly up all over the country, and this includes some of the most iconic names in the retail world. When J.C. Penney announced that it would be declaring bankruptcy and closing hundreds of stores, I warned that would just be the tip of the iceberg, and that has definitely turned out to be the case. In fact, on Wednesday many analysts were absolutely shocked when news broke that Victoria’s Secret has decided to shut down about 250 stores…