🪦 The most endangered retailers in America

Good morning. Speaking at the World Economic Forum, Microsoft CEO Satya Nadella argued that artificial intelligence needs to “do something useful” soon or AI companies will lose the “social permission” to eat up so much electricity. One idea comes to mind: Has anyone asked AI to solve the energy crisis?

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Wealthy Americans are leaving the U.S. for countries with lower taxes and a different lifestyle — but those aren't the only drivers.

One often-overlooked cost has become a major factor in "millionaire migration," steering affluent households toward countries that offer better value and easier access to essential services.

"Global mobility is becoming a core risk-management strategy for wealthy families," Christian H. Kaelin, chairman of Henley & Partners, told Business Insider. Destinations that "look attractive on paper" may not be as attractive once the true exposure to this cost is understood.

In 2025, it's estimated that 142,000 millionaires relocated across international borders — the highest ever recorded, according to the Henley Private Wealth Migration Report 2025. That number is expected to climb to 165,000 in 2026.

And since many of these affluent households are aging, we could see this great wealth flight magnified.

High-interest debt can be powerful — so powerful that even Warren Buffett, the world’s 10th richest person, has said, “If I borrowed money at 18% or 20%, I'd be broke.”

Now, if we’re talking a few thousand dollars, you can probably clear that out easily with monthly payments or using a debt consolidation loan. But when your debt is $30,000 plus, this is when you might want to see if you qualify for a debt relief program to help clear a significant portion of your debt.

A debt resolution firm like Freedom Debt Relief can negotiate directly with your creditors on your behalf to reduce the total amount you owe.

You can speak with a certified debt relief consultant for free, who can show you how much you can save by partnering with them.

When Georgia grandmother Arilya Romero’s rent went up at the exact moment her contract job evaporated, she felt she had no choice but to move herself, her pregnant daughter and her grandson into an extended-stay hotel.

"It was supposed to be a temporary solution, but it felt like a trap once I got into the hotel," Romero told Fox5 Atlanta.

Romero was working two jobs, barely scraping by and unable to save anything toward a security deposit for permanent housing. What was meant to be temporary stretched on month after month and ultimately cost her more than she had ever paid in rent.

Georgians like Romero are caught in a catch-22. They turn to extended-stay hotels because they cannot afford the upfront costs for an apartment. Because hotels cost far more than rent for a comparable or even larger unit, saving for a security deposit becomes nearly impossible.

According to a new report from Georgia State University, more than 4,600 people, including 1,635 children in DeKalb County alone, are caught in this cycle of unaffordable housing.

For decades, America's biggest retailers weren’t just where you went to buy clothes or appliances. They were the anchors for downtowns, filled suburban malls and shaped how generations shopped.

Now many of them are hanging on by a thread. Some, like Sears and Kmart, are on the verge of extinction. Some have declared bankruptcy.

Others are shrinking, restructuring or struggling to stay afloat.

On a recent Freakonomics podcast, retail analyst Mark Cohen described Macy’s stores as looking “terrible.” He doesn’t think they’ll be around another 10 years.

So what does this big shift in retail mean for the average American consumer?