Looting costs being passed on to consumers

Walgreens Suffered $75 Million in Looting Damage

It’s a big number. But it’s not just a number for insurance companies. We live in an interconnected economy. The insurance payouts will be passed on to everyone. Product costs will rise, losses will be passed up and down the ladder until they reach everyone.

And that’s just Walgreens. The full financial picture of Black Lives Matter devastation will be much worse. 

Damage related to looting cost Walgreens Boots Alliance at least $75 million, offering a look at the cost of U.S. unrest for one of the nation’s largest retailers.

Deerfield-based Walgreens said the estimate includes store damage and lost inventory through May, when the company’s fiscal third quarter ended, according to a filing with the Securities and Exchange Commission. Store closures during protests also hurt sales, the company said.

That’s not quite as damaging as the lockdowns, where last quarter losses were well over $1 billion, but it’s still quite damaging.

The common denominator of the lockdowns and the BLM riots is that both create massive economic devastation while enforcing political compliance under the guise of a crisis. The resulting economic depression and public fear are levers for Biden 2020.

These are some of the eggs being broken to make that particular omelet.

SOURCE

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