Wal Mart CEO: "Shoppers Are Running Out Of Money"; There Is "No Sign Of A Recovery"

Tyler Durden's picture

When a month ago the CEO of Wal Mart Americas told the world to "prepare for serious inflation", the Chairman laughed in his face, saying it was nothing a 15 minutes Treasury Call sell order can't fix (granted net of a few billions in commissions for JPM). 4 weeks later the Chairman is no longer laughing, having been forced to hike up his inflation expectations while trimming (not for the last time) his economic outlook. "U.S. consumers face "serious" inflation in the months ahead for
clothing, food and other products, the head of Wal-Mart's U.S.
operations warned Wednesday talking to USA Today.
And if Wal-Mart which is at the very bottom of commoditized consumer
retail, and at the very peak of avoiding reexporting of US inflation by
way of China is concerned, it may be time to panic, or at least cancel
those plane tickets to Zimbabwe, which is soon coming to us." In  light of that perhaps today's words of caution from Wal Mart CEO Mike Duke will be taken a tad more seriously (yes, even with the $50 billion in "squatters rent" that the deadbeats spend on iPads instead of paying their mortgage: that money is rapidly ending). Warning is as follows: "Wal-Mart's core shoppers are running out of money much faster than a
year ago due to rising gasoline prices, and the retail giant is worried. "We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact.
" Tell that to Printocchio please.

From Money:

Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.

Lately, they're "running out of money" at a faster clip, he said.

"Purchases are really dropping off by the end of the month even more than last year," Duke said. "This end-of-month [purchases] cycle is growing to be a concern.

Also remember that long-running joke from the NBER short bus that the recession ended in late 2009? Turns out they were just kidding, as well as blatantly lying.

Wal-Mart which averages 140 million shoppers weekly to its stores in the United States, is considered a barometer of the health of the consumer and the economy.

To that end, Duke said he's not seeing signs of a recovery yet.

With food prices rising, Duke said Wal-Mart is charging customers more for some fresh groceries while reducing prices on other merchandise such as electronics.

Wal-Mart has struggled with seven straight quarters of sales declines in its stores.

Here's an idea: how about we let someone with actual business experience, who runs the one company employing more people than even the Federal Reserve, Mike Duke, control US monetary policy for a few months and see what happens? Surely it can't get worse than what that other insane sociopath is doing, as with each passing day we are now moving closer and closer to a hyperstaglfationary conclusion, and even the collective cheerleading crew of Cottonelle bearing monkeys, half of whom were reading "Monetary Policy for TV Reporters" (just two steps down below idiots), from yesterday's FOMC conference are finally starting to realize this.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
bob_dabolina's picture

"With food prices rising, Duke said Wal-Mart is charging customers more for some fresh groceries while reducing prices on other merchandise such as electronics."

Hedonic regression bitchez. No inflation.

nevadan's picture

Mr Dudley!  Mr. Dudley? Those iPads are getting even cheaper.  Would you like yours plain, or perhaps smeared with a little mustard?

caconhma's picture

Wal Mart CEO Mike Duke knows more about the US economy and its trend than all government statisticians and academia professors combined together. Furthermore, he runs one of the most successful businesses in America.

Finally, Mike Duke does not take his marching orders from the Rothschild criminal family who runs the FED, the Obama administration, the Wall-Street, and the Congress. These people are ruining America.

It is the time for change regardless of lying and phony promises of our politicians. Changes will come, do not have any doubts in it. Politicians will not like it but, at some juncture, people do not give a shit about politicians any more.

aheady's picture

How the fuck do you know who he takes his marching orders from?

dlmaniac's picture

Food price is high but you can eat iPad instead.

mathdock's picture

The Dukester lives in Arkansas, and there's too many swine in that state--I believe 3 times the human population--for any of the usual conspirators to step anywhere inside the boundaries.

 

Texas Gunslinger's picture

I BUY DOG FOOD AT WALMART, AND PRICES ARE UP 25% FROM LAST YEAR. 

WHAT SHOULD I DO?

Greater Fool's picture

Not sure about the dog food, but I'd recommend that you locate your CAPS LOCK key ASAP.

Hugh G Rection's picture

Texas Gunslinger-

 

Congratulations on your new Trolling Handle.

 

I am sooo sorry for your troubles as of late.  I know it can be difficult when you stick to your top-calling pm bashing nonsense so fervently, and the market continually jams a silver strap-on up your culo. :-(

 

Unfortunately, the majority of the ZH community is pretty intelligent, ( as evidenced by the amount of PM bulls), and won't buy into your little games.

 

Please log back in under MathMan, RoboTroll, dangertime, and let us know how much ass your kicking with the SLV put options.

 

Sincerely,

Hugh

Texas Gunslinger's picture

WHO ARE YOU?

WHY ARE YOU ATTACKING ME?

THIS CONVERSATION ISN'T EVEN ABOUT SILVER, AND I'VE NEVER PARTICIPATED IN A SILVER DISCUSSION.  YOU ARE CONFUSING ME WITH SOMEONE ELSE! I JUST JOINED THIS SITE LAST NIGHT!

I OWN SILVER, AND THINK IT WILL GO MUCH HIGHER.  AND I OPENLY ADMIT THAT I DON'T UNDERSTAND PUTS OR HOW TO TRADE THEM.  

AGAIN, WHY ARE YOU ATTACKING ME?

tmosley's picture

Turn off your caps lock, please.  Use all caps in short bursts for emphasis.  When you type in all caps it reads as though you are yelling.

There have been a large number of trolls who have been beaten up by others as well as myself, and cowardly slink away and come back with a new username.  Your name is very "theme-y", which has been a hallmark of these guys.

Take off the caps lock, and we can have a good discussion.  If you turn out to be one of them, watch out, because you will be publicly humiliated on a massive scale.

Flakmeister's picture

You are being attacked because of your inability to properly use the caps-lock key

Texas Gunslinger's picture

Ok. Sorry about the caps lock. 

 

 

fuu's picture

No you joined 5 days ago not last night. http://www.zerohedge.com/users/texas-gunslinger

 

This was your first post.  http://www.zerohedge.com/article/how-comex-lost-20-its-registered-silver-one-week-or-where-theres-smoke-run-theres-probably-r#comment-1214953


by Texas Gunslinger 
on Thu, 04/28/2011 - 02:34
#1214953

Hi ya'll.

This is my first post at Zero Hedge, and I just wanted to tip my hat and say hello.

I've been reading this website for the past few months (my coin dealer referred me here), and have really learned a lot about silver, gold and all the evil of the Federal Reserve.  I've probably learned more here in the past two months, than I did during all my years of high school. 

I decided to join, so I could ask questions and keep learning. You guys seem really smart (except the trolls!), so I hope I can learn from everyone. By the way, I hope I don't get attacked by trolls.  I see the way they always try to harass everyone with opposite opinions, and it just sucks.  

I'm just a simple man trying to learn what happened to my country, and what I can do to get her back to the days before Obummer and his socialist agenda. I'm mad. I'm armed, and ain't no one going to take my country, especially an African. 

ok...so anyway, that's that.  

God bless, and god bless the USA.  

 

When you guys switch shifts on the VM do you not keep notes on how the personality acts? Oh well maybe the software isn't that great yet. You should think about upgrading or something.

WallStreetClassAction.com's picture

That explains it all. An ignoramus somehow googled up ZH and got "enlightened" by a bunch of similarly deranged idiots. This must either be a pretty funny setup, which I admire and find hillarious, or a real "forever alone" reetard. What are you "armed" with? CAPS LOCK? ha ha ha ha

 

 

americandream mybutt's picture

trackin a texan down. . .

ha!

Fish Gone Bad's picture

Chihuahua's are mostly dark meat.

JW n FL's picture

Mess with my dog and I wil erase your gene pool, with a smile.

Logman's picture

For some reason that Mel Gibson quote was stuck in my head yesterday.

SoNH80's picture

You may be able to find a slaughterhouse in your area (cattle-producing area) and buy scraps at deep discount.  That is what people did before canned dog food came along.

Texas Gunslinger's picture

WOW!

THAT IS A GREAT IDEA!

THERE IS A SLAUGHTERHOUSE 40 MILES AWAY, AND I NEVER THOUGHT OF THAT! I KNOW THE SON OF THE OWNER, SO I'M SURE I CAN GET SOME KICKIN' SCRAPS! MAYBE I CAN SELL SOME SCRAPS TO THE LOCAL WALMART TO HELP REDUCE COST-IMPUTS, OR WHATEVER. 

MY DOGS WILL GO CRAZY!!!! 

THANK YOU!

Hugh G Rection's picture

Don't Trolls usually scavenge for shit mushrooms?

 

We know damn well your dogs subsist on liver flavored peanut butter, licked from the hanging wizard sleeve asshole of yours.

SoNH80's picture

Jeezum crow, take it easy man, you could take him at his word.  Have you taken acid?

Hugh G Rection's picture

never taken acid.  Have you read all his posts since he first started yesterday?  Funny how several trolls vanish as SLV jumps $2-$3, everyone gets phantom junked, and then this clown appears.

 

That would be the 2nd coincidence yesterday.  The first being Ma0bama coming out with his sham longform photoshopped BC right before Bernanke has the first ever FED press conference. Or like how $2.3T vanished from the pentagon the day before Sept. 11.

 

"When in doubt there is no doubt" Ronin

SoNH80's picture

Listen, man, this guy may/may not be blowing smoke on the PM front, but here, he's just a dude from Texas trying to feed his dogs in a crappy, inflationary economy.  I'd like to think that this place is about survival strategies, no??  Instead of hyper-hyper aggro trading nonsense?  The pigfuckers are in Lower Manhattan and N.W. D.C., not on this forum.

Hugh G Rection's picture

I felt the same way about a dancer at Stars... I was SURE she liked me.  Turned out she was just a hooker.

SoNH80's picture

You were right, the guy's a doof, but at least his dogs don't have to suffer for it.

SoNH80's picture

Well, just keep the scraps for your own use, since Wal-Mart doesn't make the dog food itself.  You could put them into big plastic paint pails with lids, pop 'em in a deep freezer, and thaw at the beginning of the week for Fido.  Liver, hearts, sweetbreads (pancreas), various other bits are really good for dogs.  You could also mix the meat, after cutting, with cooked cornmeal. 

hedgeless_horseman's picture

Make friends with an equine undertaker.

breezer1's picture

curried with rice is my advice.

Savyindallas's picture

Does not take marching orders from the criminal Rothschilds? Very dangerous  -he may be dead soon.  You're right -these groups are ruining america.

MSimon's picture

The groups running America are so secret you have no idea who they really are. You want my guess? Shao Lin Priests. Why them? Because they seem so unlikely.

Cleve Meater's picture

Oh please... Spare me.

Wal-Mart is a mega-giant monolith monopoly trading firm that is no different than the old E. India Trading Company... It delivers between 30%-50% of the entire U.S. consumption of products (trinkets, doodads, and worthless ephemera really) -- 98% of which is either manufactured overseas or produced by other global monopolies.

It, along with the "Rotschild criminal bankers" have singlehandedly destroyed small businesses and it's just as responsible for the ever-increasing sprawl of our suburban wastelands.  It governs an entire global production system focused on (over) consumption of resources and with a byproduct of incredible waste.  Remember Black Friday and the videos of the morbidly obese FrankenFood Wal Mart shoppers virtually murdering one another to get their hands on the "deals"? What a fucking disgrace that was... And our corporate-owned media treats it all as entertainment.  Hah-hah... Look at these crazy, poor sons of bitches going ape shit for their HDTV's and Skeechers.

It has redefined monopoly from a horizontal competitive plane (Wal-Mart vs. Target for instance) to a vertical competitive plane -- Wal Mart competes with all the folks under its power (workers, suppliers and customers).

It gives consumers the illusion of "choice", yet its gazillions of products are themselves manufactured and owned by a small handful of global monopolistic suppliers. Want to buy some toothpaste at Wal-Mart? 80 percent of that market is controlled by Procter & Gamble (including seemingly independent "health" brands like Tom's of Maine.)

Pick up a six pack of beer? Tsingtao, Corona, Beck's, "independent" microbrews like Redhook? All owned by Anheuser Busch, MillerCoors, or InBev.

The same is true for Campbell's, Frito Lay, etc. Consumers think that these big box monstrosities offer them "choices".  What they are getting are simply different flavors of Soylent Green manufactured and marketed by similar global monopolies.

The production of virtually every product we buy today has been concentrated into the hands of global monopolies.  Then it's sold to us in fucktastically enormous warehouses by other global monopolies.

And... It most certainly IS in concert with the Rotschild criminal family.  What do you think the "ever lower prices" is all about.  It's about squeezing producers and manufacturers margins to the breaking point to satisfy Wal-Mart's Wall Street financiers. It's about creating mega-monopolies on a global scale to benefit shit piles like Blankfein, et. al.

I'm as hard core capitalist as anyone... Folks, this isn't capitalism.  This is giant corporations and their bankster overlords working in conjunction with the government to destroy competition by tilting the scale in ways large and small to roll up their competitors, destroy small business, make us all hopeless low-wage serfs, and create a dependent consumer culture who will buy all of this crap on credit.

 

tmosley's picture

Walmart is quite different from the E. India Trading Company.  You might note that Walmart has neither an army, nor a navy, and has never participated in a war.

Just being big doesn't mean you are evil.  They have done a very good job of driving down prices, and have thus allowed the people in the United States to live a comfortable life for much longer than would have been possible without them.  Some might say that is bad, but, for one, am thankful for the extra time I have to accumulate silver thanks to them.  They have done a few nasty things, like endorsing new regulations on industry, but for the most part, they have been a free market paragon in a sea of fascism.

arby63's picture

You are mistaken if you think Wal Mart got as big as they are due to "best practices" or any such thing. Frankly, it's just not possible. They stand as the single biggest threat to small business that has ever existed. Like someone else said, they are about equal with the Fed when it comes to integrity.

Creed's picture

they have been a free market paragon in a sea of fascism.

 

 

bwahahaha

 

 

nedwardkelly's picture

I'm as hard core capitalist as anyone... Folks, this isn't capitalism.  This is giant corporations and their bankster overlords working in conjunction with the government to destroy competition by tilting the scale in ways large and small to roll up their competitors, destroy small business, make us all hopeless low-wage serfs, and create a dependent consumer culture who will buy all of this crap on credit.

+1

Creed's picture

+1, stated far better then I could

 

by nedwardkelly
on Thu, 04/28/2011 - 14:45
#1217087

 

I'm as hard core capitalist as anyone... Folks, this isn't capitalism.  This is giant corporations and their bankster overlords working in conjunction with the government to destroy competition by tilting the scale in ways large and small to roll up their competitors, destroy small business, make us all hopeless low-wage serfs, and create a dependent consumer culture who will buy all of this crap on credit.

+1

MSimon's picture

I guess you never heard of market consolidation and economies of scale.

What ever happened to the Itty Bitty Machine Company? Destroyed by the big boys. Who were in turn destroyed by the bigger boys.

 

narnia's picture

Wal-Mart's competitive advantages are (1) its efficient centralized distribution system & (2) its ability to whore vendors heavily subsidized by the US government.  

every tax is regressive.  the inflation tax is eating away at its customer's disposable incomes, especially since a good portion of these folks depend on a very static $3 trillion in transfers from government.  the effect on oil is destroying their #1 competitive advantage & putting price pressure on their vendors who, even in agriculture, rely on oil.

i wouldn't cry a single tear for Wal-Mart.  i don't believe they are villans, but i don't appreciate nor respect petro-chemical based & dependent food.  this is not the evolution of a free society.  it's the de-evolution of a controlled economy.

tmosley's picture

This is an extremely fair criticism.

MSimon's picture

We use far too much iron. It is unnatural.