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Mike Krieger: Where Food Stamps Go to Die

Tyler Durden's picture


From Mike Krieger of

Where Food Stamps Go to Die

Anyone who has the power to make you believe absurdities has the power to make you commit injustices.

No snowflake in an avalanche ever feels responsible.

Common sense is not so common.

I have never made but one prayer to God, a very short one: “O Lord make my enemies ridiculous.” And God granted it.

In general, the art of government consists of taking as much money as possible from one class of citizens to give to another.

The sovereign is called a tyrant who knows no laws but his caprice.

All murderers are punished unless they kill in large numbers and to the sound of trumpets. 


                  - All Quotes by Voltaire


Where Food Stamps Go to Die

We all know the economy sucks.  We all know we are headed in the wrong direction.  We all know our leaders are corrupt, immoral, greedy and violent.  You don’t need me to tell you that.  One thing that I have noticed recently while watching the financial markets is that despite the fact most stocks charts I pull up look awful, the major indices continue to hang in or grind higher.  While it is not new news that a few large cap stocks are holding the major averages up, I want to focus on one in particular.  Wal-Mart.  Yes we all know Wal-Mart.  Everyone has an opinion; whether you love it or hate it.  In this instance, I’m not so much interested in the company itself, the stores or disturbing images of some of the people seen shopping there.  No, in this case I want to take a look at the stock and ponder what it tells us about the state of affairs in both the U.S. and the global economy as a whole.

Wal-Mart’s stock is up 14% YTD, which is triple the return of the S&P 500.  The stock also packs a dividend yield of 2.3%, so the total return is even better.  In the last month or so the stock has become a real powerhouse as you can see in the chart below.  Crushing any and all shorts under the weight of its rapid appreciation.


Wal-Mart Three Year Chart


I think the above chart, in particular the move in the past month or so, speaks volumes to what is happening on a macro level.  First, from a purely flow of capital perspective, the U.S. economy was the last one to hit recession (most money managers still have no idea).  With Europe in a situation where monetary and political chaos appears likely here and now (and inevitable ultimately) and the BRICs in total free-fall, we have seen a rush into perceived safe havens.  We all know about treasuries and bunds, but at some point people don’t want to continue to funnel money to instruments yielding negative real returns.  So what has apparently happened is global money managers have been allocating more dollars to very large cap U.S. shares as an alternative to treasuries and bunds.

There’s more to it of course.  Nothing exemplifies the ghetto status of the U.S. economy more than the success of Wal-Mart in the face of the ongoing destruction of what was once a vibrant and strong middle class.  In case you missed it, Marion Nestle, Professor in the Department of Nutrition, Food Studies, and Public Health at NYU, came out with some interesting tidbits regarding the food stamp program.  One of them is extraordinarily disturbing.  She shows that Wal-Mart’s gets as much as 25% to 40% of revenue at some stores from food stamp dollars.  This says it all folks.  Food stamps are or course the perfect business for Wal-Mart and JP Morgan, which as I pointed out previously makes a lot of money running the program and keeping the populace in perpetual serfdom.  Meanwhile, guess what another of the best performing stocks this year is?  Corrections Corp of America, ticker CXW, up 41% YTD!  Guess what they do?  Yep, you guessed it.  They lock up the serfs that get out of line.  This is the Bloomberg description of CXW.

Corrections Corporation of America provides detention and corrections services to governmental agencies.  The Company owns correctional and detention facilities in the United States and the United Kingdom. Services include design, construction, ownership, renovation, and management of new or existing jails  and prisons, as well as long distance inmate transportation services.

There you have it folks.  What sectors are leading the American economy in the “recovery”: Food stamps and Prisons.  They are actually perfectly complimentary.  If the food stamps don’t work the prisons will.

Meanwhile, in the real economy we have the latest earnings blowup.  Ryder System, a company involved in the leasing, rental and logistical business of trucking lowered its forecast and the shares were smashed.  Too bad you can’t lease a truck with an EBT card, although who knows, that might be in the next stimulus package.

Ryder Three Year Chart.  Thanks for Playing!

The global economy is currently staring into a cyclical recession in the midst of the biggest structural debt and derivatives ponzi scheme that mankind has ever witnessed.  The desperation to keep things looking decent into the election continues at a frantic pace and now there are only four more months left.  As I have said before, if they do not allow pressure to be released until after the elections the comeuppance is going to be way more awful than I care to think about.  Prepare accordingly.

Peace and wisdom,



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Thu, 06/28/2012 - 20:59 | 2571796 Bill D. Cat
Bill D. Cat's picture

Welcome the next contestant of Running Man , Tyler Durden , .... anyone got a pen ..... use my back to sign .

Thu, 06/28/2012 - 21:08 | 2571821 BKbroiler
BKbroiler's picture

If the food stamps don’t work the prisons will.


Thu, 06/28/2012 - 21:13 | 2571840 Pladizow
Pladizow's picture

You forgot: "Everything is fine today, that is our illusion" - Voltaire

Thu, 06/28/2012 - 21:16 | 2571850 BKbroiler
BKbroiler's picture

“The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.” 
 Frank Zappa

Thu, 06/28/2012 - 21:18 | 2571860 Marginal Call
Marginal Call's picture

Private prisons are Arizona and Brewer's cash cow.  Those laws they keep coming up with there...yeah, they are for profit.

Thu, 06/28/2012 - 21:24 | 2571878 veyron
veyron's picture

I'm waiting for "Food Stamps for Gold" ...

Thu, 06/28/2012 - 21:35 | 2571912 vast-dom
vast-dom's picture

It's actually quite the opposite as the gov will never allow foodstamps to compete with their very own gold grab hedge. you'll be waiting a long ass time.

Thu, 06/28/2012 - 22:46 | 2572097 AldousHuxley
AldousHuxley's picture

that's why I said give the poor government cheese and bread. let rednecks know that they are on the government dole, so they don't go protesting at tea parties.


otherwise welfare is just subsidy to corporations who end up being subsidized.



healthcare is just subsidy to hospitals and pharma and doctors. if government wanted poor to have healthcare, they would lower the cost of care and insurance by introducing competition.

Thu, 06/28/2012 - 22:48 | 2572099 mjcOH1
mjcOH1's picture

I think you'll see legal food stamps for pot long before food stamps for gold....except possibly for goldschlager.

Thu, 06/28/2012 - 23:11 | 2572155 A Lunatic
A Lunatic's picture

Linkin Park - 


Skip ahead to the two minute mark for a concise description of my thoughts on today's news in general.

Thu, 06/28/2012 - 22:08 | 2572000 Buck Johnson
Buck Johnson's picture

I know, that was good.  You either take the foodstamps and shutup or go to prison and work for prison industries for 2 cents an hour.

Thu, 06/28/2012 - 21:21 | 2571874 vast-dom
vast-dom's picture





Thu, 06/28/2012 - 21:30 | 2571897 azzhatter
azzhatter's picture

There are options. I am looking at Panama, Ecuador and Malaysia. None of these are better now but they are struggling for more freedom while amerika is willfully giving theirs away

Thu, 06/28/2012 - 21:53 | 2571964 CH1
CH1's picture

There are real advantage to being a foreigner. You are exempted from many of the local thefts and requirements.

?Me? I'm just passing through - someone else owns me."

Thu, 06/28/2012 - 22:32 | 2572066 john39
john39's picture

no place to run, this is going global.  dig in and fight.

Thu, 06/28/2012 - 22:47 | 2572096 CH1
CH1's picture

You miss my point: There is a big difference for being a registered surf inside his owner's pen, or a foreigner just passing through.

The traveling serf is generally hurt far less than the serf at home.

Thu, 06/28/2012 - 22:53 | 2572108 Cthonic
Cthonic's picture

Dhimmi, apostates, and kuffar (together 99.2% of Americans) might want to do some extra research on Malaysia.

Thu, 06/28/2012 - 23:29 | 2572220 Joseph Mother
Joseph Mother's picture

Drama Momma.  Just tell everyone you meet that you are German and you'll be fine. 

Thu, 06/28/2012 - 21:36 | 2571921 potlatch
potlatch's picture

ya know something?  a lot of time all caps is just such a tedious and sure sign of stupif stupid stupid.  but for some reason that seemed so well said.

Thu, 06/28/2012 - 23:13 | 2572163 JohnKozac
JohnKozac's picture

I don't go to Walmart anymore. To dangerous at night and too much Fatness during the day.


Fri, 06/29/2012 - 07:28 | 2572617 Ace Ventura
Ace Ventura's picture

You aren't kidding. I still go there occasionally, but I have to really steel myself to deal with the absolute hordes of sub-humans that crawl/slobber/bobulate within. By no means do I imply that everyone that goes to Walmart is of that ilk, but the growing majority are. You can occasionally spot another semi-likeminded individual while there, as they too have the look of someone who is just trying to make it through the zombie hive and still retain a shred of their sanity.

If it's not the hulking gelatinous blobs of crushed-flip-flop sporting anglo-trash, it's the ghetto-fab wilderbeasts or the growing tribal squads of vato families.....all pushing cartloads of stuff that I know would add up to an entire week's salary for me. How do these creatures pay for the rest of their living expenses, or are they all upper middle class denizens in disguise?

Not trying to offend anyone, but you guys get my drift.

Fri, 06/29/2012 - 08:24 | 2572720 Ayn NY
Ayn NY's picture

The upper middle class do their bargain shopping at Target. What you're seeing is the real deal. Walmart at night is even more frightening.

Fri, 06/29/2012 - 08:48 | 2572793 Metalredneck
Metalredneck's picture

Land of FUPA.

Fri, 06/29/2012 - 02:02 | 2572400 OneTinSoldier66
OneTinSoldier66's picture

Fear is the mind killer. -Dune

Thu, 06/28/2012 - 21:02 | 2571807 cherry picker
cherry picker's picture

Consider that new hires at Wal Mart were given pamphlets how to apply for food stamps, or so I read a year or two ago, it is a perfect circle, government subsidized employees serving government subsidized shoppers.

Thu, 06/28/2012 - 21:30 | 2571894 Cathartes Aura
Cathartes Aura's picture

WalMart does indeed take advantage of gov't bennies, aka "taxes collected from citizens" - in more ways than you can imagine - plenty of links, here's one to get the curious started,

Thu, 06/28/2012 - 22:40 | 2572081 cbxer55
cbxer55's picture

Our daughter started working at Wally World a few months ago. Yup, got the food stamp pamphlet. What kind of place is it that they pay so low they encourage their employees to go on food stamps? Horrible.

Thu, 06/28/2012 - 22:56 | 2572116 cherry picker
cherry picker's picture

When you think how much top management is bringing in, wouldn't it make more sense to level the playing field a little, pay the guys a few million less, the people on the bottom a few dollars more and there would be no need for food stamps.

Thu, 06/28/2012 - 23:29 | 2572219 narnia
narnia's picture

If Walmart does not survive the global bankruptcy, many millions of people will starve to death.

Food stamps don't bother me at all (it's the other $6.4 trillion being wasted). The current roster of recipients may quadruple at or near the reckoning.

Fri, 06/29/2012 - 08:26 | 2572730 Ayn NY
Ayn NY's picture

Food stamps are the modern day soup lines and a sneaky way to hide the depression.

Fri, 06/29/2012 - 11:27 | 2573352 Diogenes
Diogenes's picture

You don't get to be as big as Walmart by giving  away money. You have to have an eagle eye for a profit, a way to save money, a way to get things cheaper, a way to make your operation more efficient. Even when he was a billionair Walton delighted in finding a way to do things a few pennies cheaper or a few seconds faster.

Fri, 06/29/2012 - 07:08 | 2572577 neidermeyer
neidermeyer's picture

What makes it doubly funny is that WMT takes out "key employee" insurance on everyone ... right down to janitors as a tax dodge... while they are encouraging them to take food stamps...

Fri, 06/29/2012 - 08:47 | 2572790 ProtectiveFather
ProtectiveFather's picture

Can you provide a link for that claim? That makes no sense, unless maybe they own the insurance company. Even then it doesn't really make sense.

Fri, 06/29/2012 - 08:28 | 2572734 NumberNone
NumberNone's picture

WTF??  I thought you were crazy but a study in Ohio show that taxpayers are subsidizing Walmarts low prices by providing government support of their employees.  I've never been a fan of Walmart but this just pushes me over the top.  I want to kick their smiley face in the nuts. 

Thu, 06/28/2012 - 23:26 | 2572207 rbg81
rbg81's picture

This article does not surprise me.  On the handful of times I've been to Walmart over the last few years, I couldn't help but notice the legions of dysfunctional, human driftwood using their EBT cards.  If it were not for the Government teat, I doubt that many of these people could survive through legitimate means.  The worst part is watching the poor cashiers take absuse from these people.  Of course, maybe the cashiers get food stamps too.  Reminds me of the scene in "The Stand" where Randall Flagg welcomes his new followers just before Trashcan Man shows up.

Thu, 06/28/2012 - 21:03 | 2571808 Conrad Murray
Conrad Murray's picture

Where do Food Stamps End Up?


Thu, 06/28/2012 - 21:20 | 2571870 Marginal Call
Marginal Call's picture

They end up in the shitter.  Oil -> Plastic -> EBT Card -> Food -> Intestines -> Sewer treatment plant.


Pay for it going in, pay for it going out.

Fri, 06/29/2012 - 08:53 | 2572826 daveeemc2
daveeemc2's picture

Almost .... You missed some steps: Sewage treatment plant produces sludge, which is trucked to a local farm field where it is applied to the soil. Then, cows graize the grass grown there, or, soybeans, corn or vegatetables are grown on the "honey" enriched soil. Google sewage sludge. Ya, like it or not, food stampys are shitting all over you in more ways than one.

Thu, 06/28/2012 - 21:34 | 2571914 cynicalskeptic
cynicalskeptic's picture

NEWSFLASH - That huge growth in Food Stamp recipients has come from former MIDDLE CLASS, now unemployed (and usually WHITE) Americans.  

As long as we keep shipping jobs overseas (and bringing in cheap labor) in an endless pursiuit of the cheapest possible labor costs (welcome to the new indentured servitude!) government will strain to keep the unenployed from getting desperate enough to take to the streets.  

REAL unemployment has exceeded the 1932 level of 23% - long term unemployment and food stamps are the only things keeping the apple sellers off the street and Okies off the road.  With thousands squatting in underwater mortgage houses for months (years), living on foodstamps and unemployment we hgave our own version of Potemkin VIllages all over the US.  

Thu, 06/28/2012 - 21:44 | 2571939 Stoploss
Stoploss's picture


Thu, 06/28/2012 - 21:04 | 2571812 world_debt_slave
world_debt_slave's picture

I have a step-brother that works for Wal-mart, quite some time now, but he is quitting. Wal-mart is automating alot of the jobs there.

Thu, 06/28/2012 - 21:30 | 2571895 Uber Vandal
Uber Vandal's picture

I doubt that the people who use "self service" check outs realize that they are providing FREE LABOR to the stores.

Much like credit card companies speak of deadbeat customers, yet never mention how the retailer needs to pay to have the machines, and pays a percentage off of every transaction, and of course, all of the various fees that the credit card company can dream up or make up as they please.

Once everything is outsourced and/or automated, and we have ZIRP and/or NIRP 4EVR, the future is going to be very interesting indeed.

Thu, 06/28/2012 - 22:14 | 2572014 CaptainObvious
CaptainObvious's picture

This is why I don't use those fucking things.  In any store.  My thinking is that if I wanted to scan and bag groceries for a living, I wouldn't have done so for four years to pay for college so I wouldn't ever have to do it again.

Thu, 06/28/2012 - 22:28 | 2572056 BeerBrewer09
BeerBrewer09's picture

I always find money that people leave behind in those things. Plus it's easier to scam them with coupons. pwned.

Thu, 06/28/2012 - 22:47 | 2572098 yochananmichael
yochananmichael's picture

I dont have time to wait behind some lazy ebt parasite who wont bag their own groceries. 

 we need to bring back corvee for these parasites.

Thu, 06/28/2012 - 23:31 | 2572210 world_debt_slave
world_debt_slave's picture

yeah, In my soon to be non-business, I deal with point of sale systems and also a credit card dealer. I used to offer credit card services with my systems. It is cut-throat between credit card proccessors to offer lower merchant rates. But yeah, a bar customer long ago was mostly cash business but over the past few years or so, most  all are credit and debit card transactions. They pay approx. $1000 or more a month in merchant fees.

It was nice though gettig a commission from the credit card processor every month on the merchants sales. I saw a trend when I started getting my commission from two cilents, made astounding commissions up until late 2008 until present. I had to take a 50% cut on my commission to keep their business. But until recently someone has gotten their business.

yeah, I used to be a bag boy in my teens before joining the US Navy. One time had a woman come through with a see through shirt on and no bra. Guess who took her groceris out to her car? = )


Thu, 06/28/2012 - 21:05 | 2571815 Max Fischer
Max Fischer's picture



I think it's a huge stretch to look at two stocks, then claim that their performance is a mirror to society as a whole.  

I could also show you the impressive charts of both Apple and PetsMart and then claim that Americans are now eating bird food and getting their haircut by dog groomers so they can afford iPads.

You can take any two stocks you want and weave any tale you wish.



Thu, 06/28/2012 - 21:18 | 2571834 BKbroiler
BKbroiler's picture

that's true, but coupling a 41% rise in the largest prison complex and the simultaneous rise in food stamps is fair game.  It's like whatshisname said, we have two americas and two economies.  One is prison and foodstamps and the other is Imacs and ETF's.  

Thu, 06/28/2012 - 22:02 | 2571988 Sancho Ponzi
Sancho Ponzi's picture

Max: 'I could also show you the impressive charts of both Apple and PetsMart '

It's PetSmart, not PetsMart, not to be confused with WalMart. 

Thu, 06/28/2012 - 21:20 | 2571868 margaris
margaris's picture

the numbers of incarcerated americans and foodstamp using people cant be denied.

Please provide statistics for bird food eating americans if you want to make a point...

Thu, 06/28/2012 - 21:31 | 2571899 Pladizow
Pladizow's picture

1 in 8 Americans on food stamps and 1 in 4 american children are on food stamps!

Fri, 06/29/2012 - 01:41 | 2572375 Dr. Sandi
Dr. Sandi's picture

And something like half of American children are on milk cartons.

Or so it seems to me.

No I haven't seen you, kid. Why not ask your dad when he's taking you back to your Mom.

Thu, 06/28/2012 - 21:52 | 2571962 dwdollar
dwdollar's picture

Hope you don't work in finance or economics Max, because you're claiming you're irrelevant.

Thu, 06/28/2012 - 22:34 | 2572068 maxcody
maxcody's picture

Try the stock  D 

Fri, 06/29/2012 - 01:37 | 2572369 francis_sawyer
francis_sawyer's picture

 "You can take any two stocks you want and weave any tale you wish."


Yeah ~ Like someone could take John Deere & Victoria's Secret & come to the realization that their wife was getting it in the a55 from the lawnmower boy while they were busy making stupid comments on ZH...

Thu, 06/28/2012 - 21:08 | 2571824 Heroic Couplet
Heroic Couplet's picture

Let the Walton family step up and charge less for anything bought with food stamps. Bet they're too greedy. What was it Matt Taibbi said last week: "one incident of fraud, and you're off welfare or food stamps for life. Bankers screw up and there is no penalty." Smoke that in your bong.

Thu, 06/28/2012 - 21:33 | 2571907 Cathartes Aura
Cathartes Aura's picture

whoa, don't hold yer breath,

In 2011, six members of the Walton family have the same net worth as the bottom 30% of American families combined

amrka's royal family, heh.

Thu, 06/28/2012 - 21:42 | 2571935 cynicalskeptic
cynicalskeptic's picture

Change inheritance laws.   You can inherit  $5 million taxed at a nominal rate.  Not bad for no work. Anything above that is taxed at increasingly prohibitive rates - making it imopssible to pass down hundreds of millions.    'Family owned' businessses can be kept intact  - at a price - sliding sale based on value.

There is NO justification for having a permanent (and increasingly wealthy) monied class who INHERIT their wealth - and pass it on to THEIR heirs.   The rentiers suck the life out of economies.  They grow richer while the majority grow poorer.

Thu, 06/28/2012 - 22:32 | 2572065 CrimsonAvenger
CrimsonAvenger's picture

No justification? How about the fact that it's my goddamn money and it's none of your fucking business what I do with it?

Fri, 06/29/2012 - 01:38 | 2572373 Dr. Sandi
Dr. Sandi's picture

How about we kick your ass when you're stealing it in the first place instead of taxing it later?

Thu, 06/28/2012 - 22:50 | 2572103 Overfed
Overfed's picture

Fuck you. I'm hoping some long lost relative leaves me a fortune.

Thu, 06/28/2012 - 23:20 | 2572187 Calmyourself
Calmyourself's picture

Let Them Eat Rand you have two names how cute..

Thu, 06/28/2012 - 23:31 | 2572218 Cthonic
Cthonic's picture

You underestimate how difficult it is to keep capital intact.  Most rentiers wash out of the system over time; a fool and his inheritance are soon parted (typically by the likes of wealth management professionals and wives).  If one wants equality with an 'E' along with their fraternity, they should move to France.

Fri, 06/29/2012 - 08:12 | 2572691 TrumpXVI
TrumpXVI's picture

Yup, totally true.  Last I heard, the average time from distribution of an inheritance to wash out was seven years.

I received a small inheritance twelve years ago.  After surviving two stock market crashes within seven years I finally learned my lesson and woke the fuck up.  After ditching my "financial advisors", I've been able to rebuild in nominal terms (although not in tax adjusted or inflation adjusted terms).

I'm doing okay, but I need to do better.  ZH helps, as do a couple of other websites.  

And I thank God I'm single!

Gold, bitches!


Thu, 06/28/2012 - 21:10 | 2571827 Debtless
Debtless's picture

I didn't know JP Morgue was running that program for the USG. They're such a deeply embedded tick on the nutsack of America you just have to shake your head at it all in utter disgust. Dimon and his mob have the system so rigged they can never ever fail. And if it does somehow go poof, you know they'll be the last one standing amid the rubble. Scumbags.

Thu, 06/28/2012 - 21:33 | 2571906 Pladizow
Pladizow's picture

"....his mob have the system so rigged..." - They are the system!

Thu, 06/28/2012 - 21:51 | 2571957 Debtless
Debtless's picture

True dat.

Thu, 06/28/2012 - 21:44 | 2571938 cynicalskeptic
cynicalskeptic's picture

More like a cancer  - one that's already half your body weight and growing.   What they don't seem to realize is that they are killing what keeps them alive.

Fri, 06/29/2012 - 02:48 | 2572454 TN Jed
TN Jed's picture

It's worse than that.  The support call centers are in India. 

Fri, 06/29/2012 - 08:38 | 2572755 koaj
koaj's picture

they run student loans as well

Thu, 06/28/2012 - 21:44 | 2571831 Mercury
Mercury's picture

OK so where's the app for flipping your food stamp $ into shares of WMT?

Notice how this woman at the Roosevelt Institute (running the program) isn't worked up about the fact that handing out free food to the fattest people on the planet might not be the best use of taxpayer dollars...just that JPM has figured out how to make a buck off of it.  Of course, if the government ran the business end of these cards it would probably cost twice as much. 

How about realizing that the bigger government gets, the more it goes into business for itself? - cutting deals for public sector employees and private sector cronies.  Oh yeah, here's a free phone and a bag of Doritos...see you in beat it!

JMM and WMT are actually doing legitimate business here but with this much hand-out money sloshing around (which increasingly is not being used to pay for actual food staples) there are going to be some monster scams coming to light in the near future.

Thu, 06/28/2012 - 21:46 | 2571942 Tijuana Donkey Show
Tijuana Donkey Show's picture

I call this concept terminally obese. These people are at a point where it would literally kill them to loose the weight. I don't go to WalMart but when I drive by, I do notice that it is the only place where ALL the handicapped parking spots are taken, and fleet of rascal scooters zooms around with Jabba the Huts riding them down the isles. Extra credit, even the canned fruit is coming from China now! My friend bought some peaches at WalMart, and the Dole peaches are from China. WalMart+Banks+Sickcare= US of Fucked. You can't riot in a Rascal....

Thu, 06/28/2012 - 21:55 | 2571965 Mercury
Mercury's picture

As of today,  sickcare will essentially be tied to a government plastic card too (but not for public employees...see above).  It will all be top-notch though - no low qaulity crap from China or people who don't speak English will be involved at all. No way. They're going to knock it out of the park with this entitlement, I can just feel it.

Fri, 06/29/2012 - 09:02 | 2572855 ProtectiveFather
ProtectiveFather's picture

I think you're right, Mercury. This time it will be different. They're going to try extra super hard.

Thu, 06/28/2012 - 23:02 | 2572126 Totentänzerlied
Totentänzerlied's picture

"You can't riot in a Rascal...."

hahahahahahaahhahahahahaaa well said

Fri, 06/29/2012 - 10:11 | 2573112 StormShadow
StormShadow's picture

Bullshit! I could put up a hell of a riot in a Rascal!

Thu, 06/28/2012 - 21:13 | 2571842 Yen Cross
Yen Cross's picture


Mike Krieger: Where Food Stamps Go to Die"  

  I'm guessing Russia or Nigeria, based on my Email spam box!

Thu, 06/28/2012 - 21:13 | 2571843 grunk
grunk's picture

I'll go long when Wally World starts accepting stretch pants and tattoos on the EBT card.



Thu, 06/28/2012 - 21:23 | 2571877 Yen Cross
Thu, 06/28/2012 - 21:14 | 2571844 Atomizer
Atomizer's picture

Breaking News: California honors EBT card usage to medical marijuana patients.

Thu, 06/28/2012 - 22:09 | 2571980 Ignatius
Ignatius's picture

The only good news I've heard all day.

Likely it is a locally grown and processed product.

Fri, 06/29/2012 - 01:36 | 2572368 Dr. Sandi
Dr. Sandi's picture

Certainly agricultural!

Thu, 06/28/2012 - 21:19 | 2571863 shovelhead
shovelhead's picture

It's free...swipe dat EBT.

America The Beautiful.

Thu, 06/28/2012 - 21:34 | 2571909 algol_dog
algol_dog's picture

Is this what you all want?


Come on we can't do that ... Can we?

Thu, 06/28/2012 - 21:26 | 2571883 dolph9
dolph9's picture

Americans are a mixture of sheep and cows, for the most part.  It's a big farm, and you don't own it.

Thu, 06/28/2012 - 21:35 | 2571916 Pladizow
Pladizow's picture


Thu, 06/28/2012 - 21:26 | 2571885 azzhatter
azzhatter's picture

I'm 59 years old and have never been in a WalMart. But I see a lot the free loaders at the local Kroger. 

Thu, 06/28/2012 - 21:28 | 2571888 geewhiz190
geewhiz190's picture

go to a walmart just before midnight on the last day of the month and see for yourself the crowds with their carts full off 20lb bags of rice, cases of infant formula, cereal, etc etc waiting around for the clock to strike 12 midnight. that's when their food cards get funded and they can buy their groceries. ain't a pretty sight

Thu, 06/28/2012 - 21:43 | 2571936 Yen Cross
Yen Cross's picture

 I got ya beat. I parked my very expensive car behind a shopping mall for 15minute power nap about 4 years ago.


  This was a very nice coastal town. Within 5 minutes, 3 vehicles pulled up and raided all the dumpsters, and were gone in another 5 minutes.

               I about shit my pants.  geewhiz190

Fri, 06/29/2012 - 09:04 | 2572864 ProtectiveFather
ProtectiveFather's picture

I'm glad you shared that your car is very expensive. Without that detail, the rest of the story just wouldn't make sense.

Fri, 06/29/2012 - 09:05 | 2572873 fattail
fattail's picture

I would hope they were buying staples like infant formula and rice.  More likely Mt. dew and frozen pizzas because they just don't have the time to cook for themselves.

Thu, 06/28/2012 - 21:28 | 2571889 Jason T
Jason T's picture

you mean pictuers like these?

Thu, 06/28/2012 - 21:30 | 2571896 Stuck on Zero
Stuck on Zero's picture

Tiffany's and Neiman Marcus are doing well.  So, it seems that the ppor are doing well and the rich are doing well.  And then there are those who are paying for all this ...


Thu, 06/28/2012 - 22:29 | 2571941 grunk
grunk's picture

Breakfast at Tiffany's. Dinner at WalMart's dumpster.

Thu, 06/28/2012 - 21:34 | 2571908 q99x2
q99x2's picture

A global central bank scheme may make it possible to continue for another 10 years or more. I would purchase long term storage foods with shelf life at least 20 years at this point.

Thu, 06/28/2012 - 23:23 | 2572194 Calmyourself
Calmyourself's picture

You win, it will take years for this blood sucking ponzi bitch to go down.  The world can stay irrational longer than you can stay sane..

Thu, 06/28/2012 - 21:48 | 2571949 stant
stant's picture

the new cherokee on the new trail of tears

Fri, 06/29/2012 - 01:34 | 2572366 Dr. Sandi
Dr. Sandi's picture

I assume that's a Jeep Cherokee. Travel the Trail of Tears in style while you can.

Thu, 06/28/2012 - 22:00 | 2571979 earleflorida
earleflorida's picture

The best we can hope for is a cultural-rebellion in china?

If not, we're all doomed: 'remembrance of things past'!


Thu, 06/28/2012 - 22:38 | 2572077 Milestones
Milestones's picture

I prefer Durells "Alexendria Quartet" to Prosts work though I enjoyed both. Remberances missed it's target.         Milestones

Fri, 06/29/2012 - 12:30 | 2573616 earleflorida
earleflorida's picture

Quite! :-))

Thu, 06/28/2012 - 22:06 | 2571996 daveeemc2
daveeemc2's picture


 FDO, DG vs WMT  

Dollar stores recently, within last 3 years, to be  first ones to offer bread, milk, eggs, bacon.  Why?

Food stampies.

14% ytd aint too shabby, esp in this economy, but the real money is on these dollar stores. This year alone 25+% is norm.

Study their business model for a while and you will see why - get'em in with cheap, albeit single serving size containers, and while they standing in checkout line, tempt them with Jesus statues, jesus candles, and candy bars for screaming kids.

Margins are well over 50%.

IMHO, food stampy's are not much different than corporate welfare - tell me again how GE can pay no taxes?

Everyone is feeding from the trough of the broke american taxpayer/fed printing press.

We all b on stampy's b4 too long; its the new normal.


Thu, 06/28/2012 - 22:36 | 2572074 Dr. Engali
Dr. Engali's picture

Yep dollar stores have the right business model.

Thu, 06/28/2012 - 22:42 | 2572087 Yes_Questions
Yes_Questions's picture



only as long as their model is sustainable.  They feed on surplus within the whole of the supply chain.

like a parasite.


Thu, 06/28/2012 - 22:09 | 2572004 jharry
jharry's picture

 Food stamps are the most important program we have. It feeds millions of people and keeps an unnecessary revolution from happening while we adjust to a world economy where everyone will benefit from the largesse of our planet and the absence of wars, the real, seemngly eternal plague of mankind.  We do not need another depression, another world  war. 

Thu, 06/28/2012 - 22:31 | 2572064 cherry picker
cherry picker's picture

For the hungry and destitute you are right.

You are also right that we do not need wars and another depression.

However it is part of our collective DNA.  Someone always has to "have" more power, control,money, fame or whatever and when the pursuit of those things becomes paramount, guess what?  Fellow man becomes another stepping stone...

Thu, 06/28/2012 - 22:36 | 2572075 Yes_Questions
Yes_Questions's picture



down to brother can you

spare another war

another wasteland

and another

lost generation


Fri, 06/29/2012 - 02:48 | 2572453 TheMerryPrankster
TheMerryPrankster's picture

"We do not need another depression, another world  war. "

Yet we will have both.Depression and wars are business tools for the very wealthy and connected. It's how they shuffle the deck and slide in another 7 or 8 aces.

food stamps won't change a bloody thing, just another tool of control in the oligarchy tool box of despotism and despair

Fri, 06/29/2012 - 03:49 | 2572481 AnAnonymous
AnAnonymous's picture

In US citizenism, depression and wars are tools for the US citizen middle class.

Fri, 06/29/2012 - 11:08 | 2573287 akak
akak's picture

In Chinese Citizenism, bigotry and public defecation are tools for the Chinese roadside-shitting class (which includes all of them).

Sat, 06/30/2012 - 06:52 | 2575845 Poor Grogman
Poor Grogman's picture

In Tibetan citizenism there are no tools just chinese pillage of the village

Fri, 06/29/2012 - 07:47 | 2572641 TWSceptic
TWSceptic's picture

"We do not need another depression"


Actually that is exactly what we need. The system is broken and needs a reset. And what's wrong with a revolution?


Food stamps solve nothing, they just dig a bigger hole. You liberals seem to think that money is free, it isn't.

Thu, 06/28/2012 - 22:10 | 2572005 michigan independant
michigan independant's picture

Welcome to the Red and Blue Revolution. Read the fine print later.

Thu, 06/28/2012 - 22:55 | 2572041 Dr. Engali
Dr. Engali's picture

One thing I've noticed around town is we are looking more and more like a third world nation. The houses and cars are aging. I see more and more old pick ups hauling scrap shit. The streets are all torn up with weeds all along the road.And I'm seeing all of these little scooters running all around town. It's really pathetic.

Thu, 06/28/2012 - 23:02 | 2572124 Overfed
Overfed's picture

Hell, my pickup truck is aging and I've found it to be hauling scrap shit for a few extra $$. Thinkin' about buyin' one o' them little scooters to take to work. I was makin' 30 bucks an hour four years ago.

I still refuse to shop at Wal-Mart or WinCo. And no SNAP or EBT card either.

Thu, 06/28/2012 - 22:30 | 2572061 Yes_Questions
Yes_Questions's picture



Wal Mart: the princess of welfare queens.

Good company it has amongst the banksters though given its shared lack of concern for WAGE EARNERS.

Thu, 06/28/2012 - 22:31 | 2572063 goforgin
goforgin's picture

Yet another vitriolic post by ex-banker Mike Krieger whose only purpose in life after career of rent seeking is to lobby to preserve the status quo for ex-banker types--bunch of parasitic vermin.

NYSE Stock market capitalization in Feb '12 stood at over $16T, yet, he has to pick on WMT and EBT recipients who managed to finagle $60-$70 billion-good grief, the horror of shopping at Walt-Mart; these people don't look anything like the Rodeo Drive shoppers in their Bentleys.

Someone with less biased opinion, please take a look at major US corporations where government contracts account for at least 20% and tell Krieger to STFU. HINT: the FED government accounts for more than 20% of GDP.

Krieger you are a fucking Pete Peterson Republican shill.

Thu, 06/28/2012 - 22:42 | 2572086 cherry picker
cherry picker's picture

What if Mike is right?

Fri, 06/29/2012 - 02:38 | 2572433 TheMerryPrankster
TheMerryPrankster's picture

I don't know Kreiger from adam, but the point he seems to be making is, Walmart and its dependencies on food stamps to make its revenue numbers is indicitive of a national economy on the verge of substantial economic problems.

He is pointing ou the unsustainability of the current economic model.

Don't get angry at the dipstick when it shows you have no oil in your engine and hence it will soon fail. it is not the dipsticks fault.

Set aside your biases and try to understand the data.

Thu, 06/28/2012 - 22:46 | 2572094 devo
devo's picture

Eat your Obama flakes, kids.

Thu, 06/28/2012 - 22:55 | 2572115 baldski
baldski's picture

Kudos to you, Mike Krieger, beautiful article! 

Although, I believe the correct translation from the French of Voltaire's comment on absurdities is " Those who can make you believe absurdities can make you commit atrocities." Anybody remember a fellow named Joseph Goebbels? Nazi Germany? 

I think the right wingnuts in this country are well on the way to this end!

Thu, 06/28/2012 - 22:59 | 2572119 dark pools of soros
dark pools of soros's picture

all ya gotta do is fuck- and 9 months later you get the big bucks

Thu, 06/28/2012 - 23:01 | 2572122 fuu
fuu's picture

Six months ago I sat through a presentation by a sales doofus who was excited that WIC only stores in CA were the perfect growth market since WIC it is not real money no one cares about prices. Some products are #4 and #5 on the normal grocery store shelves but are #1 in WIC only stores. There is opportunity to be had helping traditional category leaders transition their products into a previously closed market.

Thu, 06/28/2012 - 23:03 | 2572128 JackT
JackT's picture

A good point has been made. I could very well see pleas and cries to extend EBT to be the equivelent of a Visa gift card, this only seems fair - why should such a small segment of the economy benefit from the tax dollars provided by the whole. What a fair and just government we would have if only the pent up purchasing power of the EBT were to be free and just.

Thu, 06/28/2012 - 23:05 | 2572136 toomanyfakecons...
toomanyfakeconservatives's picture

Corrections Corporation of America must die! It's high time to arrest Obama, Brenanke, and all the traitorous vultures beneath and above them.

The time for the MASS ARRESTS is at hand!

Fri, 06/29/2012 - 01:16 | 2572353 WillyGroper
WillyGroper's picture

One of CXW's largest shareholders is none other than DICK Cheney. WMT may be moving up, but they're closing stores to make those numbers. 50 in their home state of AR this year. Liars figure & figures lie.

Snap pamplet is a new one on me. After watching Frontline last night on the corporate dental chains, my hair caught on fire. They are ripping off the poorest of the poor with credit provided by GE. 10% APR & if you miss 1 payment, retroactive to 29% on the whole wad. Bastards did it to an 86 year old lady who just went in to get a tooth extracted. 

We are soooooooo fukked.

Fri, 06/29/2012 - 00:35 | 2572313 Carl LaFong
Carl LaFong's picture

American "serfdom" is is now official policy.  The SCOTUS sealed the deal today.

Fri, 06/29/2012 - 02:27 | 2572418 TheMerryPrankster
TheMerryPrankster's picture

Carl Lafong, "Say you look about fifty to me."

Mr Bisonet, "You would say that.'


SCOtuS? or Serf Kingdom of the United States,


Fri, 06/29/2012 - 00:47 | 2572329 Clowns to the l...
Clowns to the left_ jokers to the right's picture

Ohhh, SNAP!

Hey, somebody had to say it.

I'd like to say I'm surprised that junk food pushers have their say in legislation but I'm not. They have to have their niche along with big oil, big pharma, big green or whatever the hell it is, big insurance, big banks and all the rest.

"Psst...Mr. Congressman. See this big lump in my back pocket? It's not an ass tumor, it's a wallet packed with money and it could be yours if..."

Fri, 06/29/2012 - 00:57 | 2572337 Bansters-in-my-...
Bansters-in-my- feces's picture

All that money being spent on correction department and NO bankers in the jails...???

What gives,just the guppies get caught or what?

Fri, 06/29/2012 - 02:47 | 2572451 Gamma735
Gamma735's picture

The temples we have built are huge.  The masses swamp the temples.  Lower order priests greet each person.  The people bask in the glow of the images of their gods on shiny screens.  Every need of life can be met in these temples.  The masses depend on the temple.  The receive gifts and blessings for a small offering.  The fore-fathers of free market capitalism never realized that crony capitalist would enslave vast amounts of a "free" population and create temples to capitalism named "Wal-Mart" 

Fri, 06/29/2012 - 04:14 | 2572495 carlsbadip
carlsbadip's picture

Walmart is just the indicator and not the cause.  All of the Walmart bashing about killing Mom and Pop stores is a bit laughable.  Those stores died forty years ago, when the Mall came to town.  Home Depot and Lowes have killed more Mom and Pop stores in the last thrirty years, than Walmart.  The local harware stores are dwindling and in many parts of the country they are gone. Home Depot and Lowes have some union employment and Walmart does not, and that is why we hear the whine about Walmart and it is unending.

American student are 23rd in the World in Math and 19th in Science and we spend per pupil, the second most in the world behind Switzerland, and that does not iunclude private and prorochial schools.  Our technically illiterate society falls for religions of all types, wehether it be Anthropomorphic  Globl warmming - Climate Change - Rigged Carbon Credits; extreme environmentalism that will require covering the land mass of the size of the state of Indiana with windmills each year just to meet incremental demand (that also kill hundreds of thousand migaratory birds each becaus ethe religious energy do not have the meet the cite requirements of oil, coal, natural gas, hydro electric and thermal)  that is projected well below what is needed to grow the economy and we have solar cell farms that will destroy most of the deserts; subsidized solar cells in the palces like Boston where suuficient Sunlight is available about 30% of the time; and lets not forget the highly caustic lithium Ion batteries that needs to be deposed from the millions of cars on the road today.  Anew kind of Yucca Mountain that should be split between Golden Gate Park and Cenetral Park, so teh enlighthened can deal with the idiocy they have caused. 

Cheap is the message of the 1990s through to today.  The 1980s was Jaoanese quality, Juran and Demming,  While the last twenty years was about cheap goods of mostly substandard or terrible quality being consumed in America at unheard of rates.   Cheap labor went along with cheap goods to such a point that you can not buy professional power tools in the US that are made in the US.  The bean counters knew better.  



Fri, 06/29/2012 - 08:23 | 2572716 Peterpaul
Peterpaul's picture

"American student are 23rd in the World in Math and 19th in Science and we spend per pupil" That is an apples to oranges comparison. Our country contains the progeny from Africa, Asia, and Europe - not to mention Central and South America. If you break the scores in America down by race you will find that our European descendants score in the #2 or #3 slot for Europe, our NE Asians are just behind Korea, and our Africans smoke the rest of that continent. Our schools do fine when looked at through the rubric of race.

Fri, 06/29/2012 - 08:51 | 2572806 GCT
GCT's picture

WoW I have made a kiling in the last 10 years with Wal Mart stock.  Kinda sorta like making money in the military industrial complex stocks!  This post scares me as I sounded like Robo!

Fri, 06/29/2012 - 09:11 | 2572896 Hayabusa
Hayabusa's picture

Outside Independence Hall when
the Constitutional Convention of 1787 ended,
Mrs. Powel of Philadelphia asked Benjamin Franklin,
"Well, Doctor, what have we got, a republic or a monarchy?"
With no hesitation whatsoever, Franklin responded,
"A republic, if you can keep it."

Fri, 06/29/2012 - 09:39 | 2573012 notadouche
notadouche's picture

Somebody tell me how much should a "greeter" and a cashier or stock person make?  C'mon Wal Mart "bad" argument is a canard for whining American's.  If you expect to raise a family buy a house and get all the trappings of the so called American lifestyle then you should damned well better aim higher than bagging groceries.  Arkansas is the armpit of America and the Walton's have done plenty to make NW Arkansas matter.  Given a great deal to education so most posting on this site know aboslutely jack shit about what they speak of.  Only what some talking head pro union jerk off says on tv and you parrot.  In fact WM runs roughshod on vendors in order to keep prices as low as they can.  They beat the crap out of vendors.  If anyone has a gripe it is companies that do business with WM because of the hardball tactics they use to get the price points they desire.   The great thing about America is that if you can do it better then go do it.  Sam Walton started with one store and decided he could do it better than K Mart and Ben Franklin's and Sears etc... and he had the wisdom and the balls to do it.   Wal Mart put's it's money where it's mouth is.  All you have to do is look at the corporate HQ of one of the largest companies in the world.  No frills, no nothing.  I've been there and it's a total dump.  Meanwhile as Leahman and Bear Sterns where destroying the economy and layiing off and ripping off the people, their Manhattan offices looked like the Vatican with the artwork and the 10k toilets.

If you don't like it quit posting on this site and go out and do it better and then you will make WM irrelevant much like WM did to KMart.  Target had to step up their game because of WM.  Competition is what makes America better at what it does, not pissing and moaning about things that you obviously know nothing about.   Most of the folks hired at a WM store are taking the job because they aren't qualified to work anywhere else.  Who else is hiring a 75 year old disabled man to stand at the front and say "hello"? Just how much is that guy supposed to get paid?  If it sucked for him so bad he wouldn't work there.  Obviously that job makes a positive difference in his life or he wouldn't be there.    If you don't like where you work use your free will to quit and do something else.  If you don't like shopping at Wal Mart grip complaining and take your business else where.  America has become a bunch of pussies that can tell everyone what's bad about everything but oddly enough have zero solutions.   Get out of your parent's basement and do something useful.


Fri, 06/29/2012 - 18:06 | 2574846 GCT
GCT's picture

Not been there myself.  It is indeed a dump and some of the corporate offices located there by venders that deal with WM are plush.  You live in NW ARkansas?

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