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Wal Mart CEO: "Shoppers Are Running Out Of Money"; There Is "No Sign Of A Recovery"
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.
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What do you mean they cut $38 billion from this years budget....oh wait a minute...
They both spend money.
Republicans just dont enjoy it as much.
well, they say they don't anyway. This is going to hurt me more than it hurts you...
They both spend money.
Republicans just pretend they dont enjoy it as much.
Fixed it for you.
New York Yankees? Boston Red Sox?
Doesn't really matter, as long as you keep buying tickets and giant foam fingers. They are in the same league, together.
Republicans? Democrats?
Doesn't really matter, as long as you keep voting and paying taxes. They are in the same league, together.
Republicans suppress their desire to enjoy it and Democrats enjoy it without wondering where it came from.
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
look deeper into that movie...set aside the multiracial "deepness" for a second, just pretend like you haven't been conditioned to see that as nirvana.
WTF were they fighting against? A SHIT LIFE. Of living in fucking caves eating gruel. Who the fuck would want that?
I, to this day, do not GET the notion of why anyone would WANT to be unplugged! There was no reason to...the truth? WTF is the truth?
Instead of pursuing this deeper meme, the directors went off onto the diversity angle with legions of deep and noble fictional black heroes, and made Neo into no more than a construct for how to keep the Matrix humming.
The SMITH character was the only real being in the entire script. He, alone, stood for something...he wanted to destroy everything because it fucking stank. Cipher, also...fuck this shit, put me back in as a rockstar.
The "Zion" crap was even more of a delusion than the matrix, I'm sure we can both agree on that and I certainly wouldn't want to live there. The point of the quote was to illustrate the psychological dependancy that we have on a system which is largely an illusion. And yes, sitting in caves and eating gruel is preferable to murdering your team while you are in a position of trust, so that you can forget everything and have a steak and be admired.
Your values may vary.
You need to read Brave New World and really *understand* it from a deep perspective.
Read chapter 17. It is 1000x better than the fking Matrix.
I have read brave new world. and I agree. I would also say that farenheit 451 is about 451 times better than the matrix. What's your point?
Ohhhh I get it. You hate the Matrix because there are black people in it. That is why you assume that I don't understand "it" from a "deep perspective"
I'm going to try, this one time, and try to get through to you. The problem with your thinking is that it is too categorical. That is because you fear. go read Wittgenstein
that is about the most irrational conclusion you could have drawn from what I said.
BNW is in NO WAY a comparable book to F451. They're not even the same THEME.
BNW is a study of the contest between happiness and "truth." At its core it asks really just what the fuck truth IS. Your notion that "we" are "better off" in caves eating gruel than "murdering our own team," is what I was aiming my point at, because this particular debate is at the CORE of BNW.
F451 is another dystopian censorship tome, along with 1984; why people relate them to BNW is beyond me.
I fear nothing...ok, maybe heights give me the willies. But in the meantime, cut the armchair libtard psychobabble about how people who don't LIKE something MUST necessarily FEAR it. I don't like what I don't like and I do not operate from a position of fear on anything.
Trav, do you have a bunch of random words spraypainted on your walls? Be honest.
@trav7777 Shut the fuck up. I like zero hedge and you are stinking up the place, whether someone is paying you to do it or you are just a fucking moron I don't even care anymore.
Just cut that racist shit and go back to telling everyone radiation makes your teeth whiter and your dick harder.
Rayceeeees!!!!!
now call me a terrist or some other empty epithet.
Fuckin punk bitch is what you are
You tell him, Trav.
Tell us again about how IQ is inversely proportional to melanin content in the skin.
Maybe you can study it on your own and then take a step back and look at the world and see if it makes sense to you.
http://en.wikipedia.org/wiki/IQ_and_the_Wealth_of_Nations
It is hard to argue with hard data. Look at The Bell Curve also.
However, don't forget who is writing the tests; the white Europeans.
Perhaps if the tests and the definitions of "IQ" were written by the people scoring low on the tests they would no longer score low but the white Europeans would.
For instance, a case could easily be made that black Africa is better at creating a naturally sustainable civilization than white Europe and white America. Which is more likely to come out ahead in the longer time scales?
"Intelligence" is often in the eye of the beholder.
Yeah, right, ... that would explain why that boongo called Edward Harrison at CreditWritedowns is so dumb then?
It >is< just racism bobby, old white boy.
Just stick to the hyperinflation.
And before you call me a nigger, I'm a white anglo-german and HATE zionists .. of any breed or tribe or religious excuse ... I'm no racist though ... because there is only one ... the Human ''race'' ... it's the puss-nut morons who refuse to accept that fact, which pretend to be ''better'' than other people, which creates this rank stupidity of both whitey-power mongers, black nigger-''kulture'' and the uber-racist joo ''chosen-ones'' infesting central banks and ''investment'' banks and criminal FIRE sectors.
I'm pretty sure Ed Harrison is smarter than you funky-muzik white-boy, and there a very few blacker men than him around.
Why is it so?
I prefer you two approach it as fascists in ass and elephant suits.
Aren't they extinct or something?
It's transitory dammit!
/gumby
What a beautiful, sunny Spring morning! It smells just like the Spring of 2000. The markets are up, fundamentals don't matter, earnings are whatever we say they are, and anything is possible. What a great time to be alive!
i miss those days of being happy and a dumb motherfucker
I have tried to go back a few times, but I just end up getting really fucking drunk. The is no turning from the light unfortunately.
Came the dawn
Luuuuke...
+1. Those storms in the south were nothing--there's a "hard rain" coming. Richard Russell was just a year early on his call. http://read.bi/ag7hnP
Actually those storms down here last night were something horrific that doesn't roll through these parts very often. My co-worker lost wife and daughter. If the time line is long enough...
We have to set the mood.
Late Winter -- almost Spring, 2000...
http://www.thestreet.com/story/891820/the-winners-of-the-new-world.html
Ben said this is caused by people upscaling their diets, so chill out peeps.
Who gives a shit about average Americans?
No one will "run out of money" as long as Ben is at the helm. Remember what Liesman tells us: We cannot default on our obligations, since we control the currency they are denominated in. Well, technically we can't default (not pay) but we can simply pay with worthless piece of shit dollars, which gives us the same end result.
I've been crushed 3 times going short. First was back in March when the market dropped like 200 pts, I went short that day thinking we would get some follow through on the downside. Wrong. Then we went -240 or so the day the S&P put us on negative watch. Went short the day after, thinking we would finally get a reversal and test that Monday's lows. Wrong. This week I went short ahead of the Fed, thinking there could either be a surprise that crushed stocks, or a "buy the rumor, sell the news" type event where Ben basically gave the same speech as he did, but the market sold off. Wrong. So now I'm throwing in the towel and simply going uber long, buying up some QQQ weekly options that expire next Friday. So far I'm 0 for 3, but if I just hit one time I'll be well in the black. Yes, I realize it's a complete gamble in the short run, but at this point why fight the Fed? They clearly don't give a fuck about the dollar, and once it tanks a bit more it might just freefall, causing stocks to soar. Then I can get out and put more money into physical silver (if there is any left-Ha.) But I have 95% of my capital in physical silver in my hands, and the other 5% or so is just gamblin' money. So let's see what happens-with my track record we probably will get a rate hike and a 5% drop in the markets tomorrow.
Just give in and buy AGQ already.
I almost pulled the trigger last week, wish I would have. It's a gamble for sure but so far it has paid very well. But still, physical, delivered silver>>>>paper. But if you do want to play the paper game AGQ is the nuts.
Why not short the dollar? Take the proceeds and buy physical PMs.
Short the dollar against what?? You are shorting the dollar when you buy PMs
I feel your pain. I'm sitting on some SPY 120 puts. Exp Dec,2011. I still have hope.
Going short is dumb, the Fed will keep pumping money and the markets are clearly rigged and controlled by HFT machines that can only bid shit higher.
Of course, 15 min after I finally throw in the towel and go long, the dollar rises and the market drops 30 pts in about 10 minutes. I guess that's why they call it gambling.
Soon Wal-Mart will be selling buy one get one free stock certificates. Wealth effect bitchez!
Got a really big garden?
Got chickens and/or rabbits?
Got an orchard?
Got a well?
Got public transportation, horse, or bike?
Got a job or business not reliant on banking?
Got good health and fitness?
Got a holy book and a nice place at home to sit and read?
If you answered yes to most or all of the above questions, then this article really does not apply to you. Feels really good, doesn't it? Sleep well, don't you? Give thanks.
Disintermediation, friendzzzz!!!!
A hearty YES! to all except the Holy Book crap. I'll keep reading on gardening, animal raising, and funny shit, thank you very much.
My point is that one need not drive to a church, synogogue, mosque, temple, library, yoga studio, or even gym on a regular basis.
Reading funny stuff? Sounds to me like you may be a frisbeetarian. Do you feel like you are stuck on a roof?
Peace.
OK - I'm with you on that! Just think how much fuel would be saved!! Not to mention holding back on tithes, collection baskets and what not. Hell this alone could go a long way toward helping the economy recover - may be on to something here.
Is there someone who helped you get where you are now? If so, then give thanks.
oh yeah - and this here ZH is pretty funny stuff. (my kids are aspiring frisbeetarians)
They may keep going around and around, but they all eventually land somewhere.
frisbee = money
I tried being a frisbeetarian for a while, but in the end I couldn't get over the fact that I just don't like the taste of frisbees.
Got a nuclear plant upwind?
Then you might have none of those
A good question to know the answer to.
Nuclear power plant + new madrid fault line = Bi Winning!!!
I'm a bit concerned that if things crash really fast it may not matter if a nuclear plant is upwind. What if we can't maintain the plants any more and never find a place to put the spent fuel? All we need is a handful going bad on the west coast for the jet stream to deposit the outputs all over the continent at rates that could be just as bad as a single local accident.
TPOG
Got a Wal-Mart upwind? Then you might have inflation.
http://cashowal.wordpress.com/2009/06/15/are-wal-marts-low-prices-enough-to-save-face/land_use_map-2/
Running out of money? You mean FRN's? That should be easy to fix. They could put cut out $100 bills in WalMart flyers and drop them off at every house. Of course if that doesn't work helicopters could be used.
Nah, the government likes lines, long ones, policed by people in blue polyester uniforms. Submit and get your share of the wealth.
All you'll need is a voter ID card and a microchip, and you'll be set.
Easy there Wally World, SNAP doesn't buy as much as it used to
Oh, snap! (Insert other hipster lingo, skinny jeans and ironic moustache here)
Wrong. Record retail sales.
Or does anyone have an explanation for record retail sales and very high consumer confidence?
the consumer figures that came out nearly 2 hours ago weren't very good at all but they won't be noticed or reported about much
My guess is that "consumer confidence" is based on people who have money to consume. What abou those who don't? Have you ever questioned a study's participants?
Most "consumers" don't know shit?
Fuel prices up, food prices up, clothing prices up, transportation prices up. There's your "record retail sales."
imagine that, the mirage that people not paying their mortgages with money THEY DONT HAVE is helping the economy, is about to come to an end
Is that the deflation monster I hear?
Why am I the only one who hears it?
The only deflation most are seeing is in their wages, but this deflation is not loss in the nominal value - that is staying constant. Inflation in non-discretionary (i.e. food and energy) is already pervasive. If you haven't noticed the gas pump then you probably drive a scooter or a horse.
In any event, you are hearing deflation in non-discretionary. Either that or there is a ringing in your ear from all of the hopium you are smoking. Puff puff pass n-bomb.
Sorry i aint got no mo silver to sell you! Yeah i admit non discretionary is a real screamer.
Every time we bump expensive oil, we get swept off the ledge, falling deeper into the abyss. We see money raining down on us and falling into the abyss, but the pile hasn't reached anywhere we can see... and sure as hell won't help our landing. Eventually we'll snag another root on the way down and get a brief respite... before getting swept down again.
At some point, maufacturing simply shuts down due to margin compression...
Going long corporate bankruptcy attorneys bitchez.
It is a versatile profession... one of the largest reasons I chose it...
Since everything is predicated on endless printing / monetization of our debt, it wouldn't take much to flip this over to a deflationary mode and induce another bounce (kick the can just a little further). It serves as good cover to pass the hot potato (err... grenade with loose pin) over to the stooges (ahem... politicians). Just yank the cord off the HP Megajet printer and watch the idiots scramble to plug it back in. They will off course plug it back in, and the rest will be history.
And, like Machoman said above, time is running short anyhow before the private sector rolls over via margin compression. Once that happens, the opportunity to "pass the buck" (ha, ha) will be lost.
So if we print 30 trillion dollars and give it to Jamie Dimon, he doesn't share it? He buys commodities and resells them to the public at a huge mark up?
All they have to do to fix everything is make all existing home loans interest free. That is all they have to do.
And who will buy the now worthless loans, or ever lend money on real estate again?
Those who borrowed too much on a box made of ticky-tacky have one thing in common, endless whining excuses.
Someone should ask Ben (and his lackey Liesman) how he can say "other countries are responsible for their own inflation/monetary policy" when all oil trades are denominated in USD. What the fuck are people supposed to do, give up using oil? They literally cannot trade gold/euros/anything for oil, except the shitty USD. If other countries were truly responsible they would simply allow oil to trade in silver, gold, euros, yen, etc. But no that would instantly fuck the USA and we can't have that, can we?
brb, gotta take a "USD" (huge shit)
Saddam Hussein had to find that shit out the hard way when he wanted to trade oil in euros.
i red a few years ago that WMT applied for banking license, well it was denied of course..
who knows we might not have had banking crisis in 2008 at all, if WMT-bank just did its job back then ..
JUST ALWAYS LOW PRICES
ALX
Wal Mart would have destroyed banking profits of a protected oligopoly.
Why do we limit banking licenses? Is it for banking safety?
Apparently walmart didn't need to dine at the discount window...
Walmart does have a banking system in place. it cashes checks and loads it onto a malmart prepaid debit card, myfriend cashes his checks there all the time.
"This is blasphemy. Stuff a cheap WalMart sock down his throat. The PONZI lives I tell you." - Ben Bernanke
Timmay Jeethner: "But Ben... you never say Ponzi out loud..."
The Bernank: "Does a Ponzi by any other name smell as sweet, Timmah?"
Printocchio! Instant Classic!!! Now if we could only lure the Bernank & Geithner to Sea World Shamu could finish the story line one GULP at a time - of course I would PERSONALLY ensure that veternarians were on stand-by in case Shamu experienced any toxic side effects....There is not a whole deep or dark enough for Chairsatan & 'Treacherous' Secretary...
Isn't WalMart the greatest recipient of the money printing via food stamps from the government?
This is like the Fed complaining about the Fed printing too much?
no..
wmt operates on less 5% margin ( profits / revenues)
can you imagine what kind of profit on stuff that poor schmucs buy on food stamps .. 1%? 1/2 %
alx
More importantly, I'll posit that walmart does it vastly more efficiently, cheaply, and better than the government would in the same shoes...
Govt mostly does stuff that ISN'T profitable: how in the hell would you run a for-profit military? (cringe at the thought!)
China-Mart is hugely reliant on cheap energy, and in case folks haven't noticed, the US is cavorting all around in oil-rich countries: China-Mart is highly subsidized. But yeah, if you ignore the BIG pieces of the puzzle, well, China-Mart is VERY efficient! (Jevons Paradox would tend to suggest that "efficiency" isn't necessarily purely positive)
What in our world isn't cheap energy dependent? I don't think it is reasonable nor relevant to single out walmart for this issue...
Though I understand & appreciate your insight ,unfortunately, the SNAP program provides an average benefit of $133.79 (Location dependent- see URL below for specifics) - with gasoline @ $4/gallon a couple of trips to the gas station consumes that easily - WalMart needs to petition the Chairsatan for some of that SWEET POMO money - then inflation discussions will become less relevant - END THE FED!
http://www.fns.usda.gov/pd/18SNAPavg$PP.htm
Average SNAP allowance for family of four in 2011 so far was $615 per month.
JPM gets 2.5% for EBT card purchases, doesn't it?
TBTF Jamie is #1 <SARCASM><OFF>
Only Jamie Dimon would seek parasitic rents off of food stamp debit cards...
Wmt share price is up today.
Hi Robo
The only thing driving up commodity prices worldwide are speculators armed with cheap money provided by central bankers and super fast computers. This is causing a havoc in the lives of rest of the population and pushing them towards poverty as they can no longer afford the basic necessities of life.
Regulators are either hand in glove with the banksters or are too slow to react and take ages to identify and take measures to solve the problems.
Total ban on speculation and the reinforcement of Glass Steagall Act is strictly required to bring relief to the man on the street.
http://www.marketoracle.co.uk/Article24581.html
Commonsense. ..... Not allowed
Re speculators: Listening to the CNBS shills again aren't you?
That's like looking at a sink with a clogged drain and a running faucet, and deciding the solution is to build a dike around the sink.
Why don't you focus your efforts on turning off the faucet? Then you can unclog the drain.
So, currency devaluation and resource depletion have nothing to do here?
"Speculation" is also a counter that can ferret out outright lies.
Conjure up whatever you think will be the panacea and then ask yourself whether it's predicated on growth: if it is, then it is mathematically guaranteed that it would run headlong over the cliff.
Why don't Wal Mart set an example and pay their employees more money so they can purchase more Wal Mart products? Higher prices require higher wages; that is how our system of fiat money is supposed to work. Could it be that greed is clouding the mind of the CEO so he cannot see the solution? It seems that to save the economy good paying private sector jobs have to be created; and fast. How about the government sponsoring classes for people interested in working for themselves creating a business and funding them with SBA loans to get started? Even if many of the businesses fail the money is still better spent than giving it to the banks to be used in speculation. The point of the matter is kick starting the private sector again and getting people to think about private employment rather than public sector jobs that eat up wealth rather than produce it.
see my post above..
alx
Sure, if margin compression leading to a shutdown of business is your goal... you presume there is this magical money pile sitting there for a rainy day to pay people with little or no job skills/resume... well, it isn't... remember, walmart is getting the same pinch from its suppliers... [hint: walmart doesn't really produce anything other than logistical efficiencies, which have obvious boundaries].
notice the masonic hand signal. yes brother mike, we know you are a shabbos goy and we know you are a useful idiot and we know when you are speaking to us in a secret manner and we appreciate it brother mike
Glad I wasn't the only one catching it -- speak through the Masonic triangle there oh Lord Vader
somebody else that flashes signs all the time is none other than rick santelli. sad but true.....
Well, at least the bankers were saved.
Sheeple can't buy food but they're buying silver instead. Yum....silver rounds taste good with Ketchup.
Yes you can't eat it...and good thing too:
Termites eat millions of Indian rupees in bank
http://tiny.cc/nd0ss
Don't you understand those people don't matter. they don't even buy ipads.
agreed.
if walMart want to survive, it must buy AAPL, now.
running out of money? que?
ampex is a friend of mine, they will blow me anytime. for a silver nickle or a silver dime,
they will blow me anytime.......
America was looking to be in great shape in 2008 as Lehman collapsed and reckless were punished as they rightly deserved. Prices on goods, homes, cars an leisure was also plunging and Americans were learning that saving CAPITAL and cautious purchasing can lead to many opportunities in the future. Instead we got operation inflate the assets of the wealthiest 2000 families in the world and every middle to upper middle class person is subsidizing it. They have more importantly tied in the need for perpetual debt to stave off the greatest depression in history. The longer this goes on with modus operandi " pretend" the better positioned the people who caused this will be and the more reliant on govt spending the rest of the classes will be but as we know this can only end in a world war. Too many pieces of paper floating around and too few resources. If that is not financial terrorism of a gradual nature than what is?
yes, but that could be dangerous to the health of those 2000 families, when it does collapse
Excellent post John. Many here get it. A few laugh at us but that is ok. I sleep well at night knowing what I own.
WMT is bringing guns back to most of it's stores too.
http://online.wsj.com/article/SB10001424052748703367004576289230488920802.html
nice.. only left
GOLD/SILVER ATM.. after that thats all i need .. :)
alx
that should help sales...but only if they accept food stamps for guns.
Anyone want to speculate where Amazon plans on moving?
austin texas
maybe they should look into changing the calendars and making every month 17 days......that should help them make it to the end of every month with out running out of money before the 30th
Oil pushing higher, gold up. Commodities up.
This explains our economic crisis as well as anything else (although it doesn't touch about The Bernank's evil ways):
JibJab - Big Box MartMaybe Walmart is too much of a stigma for proud americans to do there shopping. Trader Joes, Vons Pavilion, etc. is were all all the attractive, well off, smart people shop now that we are in full recovery mode.
The inflation is transitory. The Bernank says so. Sigh, how many times must he explain this to people?
What the hell does this Wal-Mart clown know anyway... does HE have a Ph.D. in economics from freaking MIT???
actually I think they have more PHDs than FED inself..
I red article about WallMart they put all information about sold stuff into DB.. its many terra - penta-whatever next bytes
its biggest ever commercial /goverment database on Earth.. they analyze consumer behavior when who how shops.. they are superb..
despite having shitty /cheap image , they are way ahead of any retailer in the worlds... +400 bln in sales is not joke.. and its not simple commodity stuff like oil XOM sells
alx
I wouldn't put too much value on what MIT has to say in the area of economics. Much of what they preach is crap in that area. Most of them are very smart people just little practical experience since they never go 'outside', if ya know what I mean...
http://mitworld.mit.edu/browse/topic/5
on a long enough timeline, these problems at Wal-Mart are transitory.
walmart's problem is that it serves the bottom 4 quintiles....it needs to change strategy to serve the top decile to see at least margins - if not revenue - explode....then its ceo can proclaim with marie antoinette insouciance that there is no inflation and the proof is in the cake....
I thought they tried that a couple of years back with lousy results.
If Wally World is hurting, so is everybody.
Ominous new anecdote a few months back was that shoppers at WalMart would just walk around with their carts late at night on a certain day of the month, until the stroke of midnight, when they'd all hit the check outs at the same time.
Turns out they had to wait until midnight for their government "cards" to become validated for more credit. That was not a good sign.
I'm actually planning on going this weekend to the local 24 hour grocers around midnight and just guaging parking lots and I'll go peek inside... should be interesting... don't get too many chances on a weekend to catch the end of the month.
And with this "data colllection" you plan on what, exactly? Helping someone? Laughing at them? Feeling smug about yourself?
I suppose that it's better than sending one's entertainment dollars to some big corporation...
personal reflection and a limited determination as to how macro trends are effecting my locality... may help with the timing of purchase decisions and preparedness... and it should also be useful to help people face their denial... offer them a simple test... I just want to be sure it in fact is correct.
Interesting... I happened to be in a Wal-Mart yesterday and overhead one of the dept. managers discussing the fact that he had to cut 380 hours out of his depts. schedule and he wasn't quite sure how to do it.
I've never thought things have turned around - 2011 is no different than 2008 to me. This just seems to confirm to me that the music is starting to slow and folks are looking for chairs.
the Bernank:
this is transitory while consumers shift their diet from Alpo to generic dog food.
That's the substitution metric that The Bernank & Fed Syndicate claim will bring down inflation.
iPads for relatively well off, and generic dog food for the working poor.
Up until very recent historical times that is how it has always been. I am talking within living memory here. Mine owners didn't only own the mines, they owned the shacks that they rented to the miners and the stores where everything was purchased (at huge markup). In many cases, they didn't actually pay miners with money, but with scrip good only at the company store that was, of course, owned by the mine owner, so that every penny the miners earned made its way back into the pocket of the mine owner and the people who were the actual producers got only a meager living, never enough to eat, never warm enough. It was the same in the mills and in the factories and on the farms. If all you had to sell was the labor of your hands and body it might earn you a roof and you might not starve, but your life would be poor, nasty, brutish and short.
+1
Printocchio. Nice!
Time to quit printing money for the banks, and time to start printing it for the customers of the banks.
woah, big drop in futures across the board running for cash...
OK...how many realize that we are a fascist-led country?
Of course this guy is spouting "inflation". Now that WalMart has put the local companies out of business (not all but most) he can go on his merry way of price fixing. So we have two new paradigms: from Ben, where inflation is contained, and the corporate nazis who say prices are heading much higher. They work well together...don;t ya think?
The other reason the CEO is a fake is because roughly 60+% of their large shoppers are card-carrying FOOD STAMPERS. So what is he saying actually?
More garbage from another fascist leader that takes the stage and waits for you to sit up and listen...because that's what you're trained to do.
Now sit! Listen!
Exactly
Uhhh, but it's true. Go to a Walmart the last day of the month, then come back the same time the next day. It's like night and day.
Walmart was a strong enough competitor to drive those little shops out of business. If they raise prices, those businesses will just reopen. This is absent the crushing regulations that have been installed in this country over the last twenty-odd years since Walmart started really dominating.
Did you come up with this stuff yourself? Walmart 2010 revenue was $422 billion. The whole SNAP program costs $70 billion. You- moron- belong in the "stats out of my ass" Hall of Fame Club--60% of their shoppers on SNAP generated $420 billion in Walmart income? I suppose that you also believe that the GFC was caused by community banks and Community Reinvestment Act of 1977.
The consumers are running out money because real wages have been going down since 1970s.
Real wages from 1970 adjusted for GDP growth would be $115,000 per family. Umm, wonder what happened along the way?
You can call it fascist, others socialist, or whatever, but the fact of matter is is that capitalism was ALWAYS going to end in consolidation. Wal-Mart was one of the best players out there. I don't blame Them or anyone else: peer into those smaller stores and you'll see the same crap made in China, sigh. The problem is the System- predicated on endless growth on a finite planet!
Prices reflect scarcity: yeah, there's speculation going on, but that what the Market is all about! besides, over-speculation always gets cleared out- only so long that you can hold a losing hand. Energy scarcity is driving everything else up.
Reverse economies of scale. Are people getting this yet?