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Thread: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

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    WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    'BENTONVILLE Arkansas (Reuters) - U.S. employers may be hiring again, but the job market's recovery is not giving ordinary consumers enough confidence to increase their spending, a top Wal-Mart <WMT.N> executive said on Monday.
    In an interview with Reuters at the retailer’s headquarters, Bill Simon, the president and chief executive officer of Wal-Mart U.S., said, “It's really hard to see in our business today … that it's gotten any better.”

    He added: “We’ve reached a point where it’s not getting any better but it’s not getting any worse – at least for the middle (class) and down."'

    Wal-Mart: US Job Rebound Not Spurring Spending - Business Insider


    So much for this great recovery...

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by DA60 View Post
    'BENTONVILLE Arkansas (Reuters) - U.S. employers may be hiring again, but the job market's recovery is not giving ordinary consumers enough confidence to increase their spending, a top Wal-Mart <WMT.N> executive said on Monday.
    In an interview with Reuters at the retailer’s headquarters, Bill Simon, the president and chief executive officer of Wal-Mart U.S., said, “It's really hard to see in our business today … that it's gotten any better.”

    He added: “We’ve reached a point where it’s 9not getting any better but it’s not getting any worse – at least for the middle (class) and down."'

    Wal-Mart: US Job Rebound Not Spurring Spending - Business Insider


    So much for this great recovery...
    So 100 million Americans are not getting richer for a while, because they have enabled more than 1.500 million starving poor to have jobs that compete. That is unpleasant for us. Sure. But for them it means they survive and their kids can even go to school.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    On a fairly regular basis, Paul Craig Roberts explains the tiny details of how and why the government's numbers regarding employment and inflation are but smoke & mirrors.

    I know too many people who cannot find a job to believe the government's numbers on unemployment.

    I'm surprised to see the WalMart dude make his comments public. He is much closer to the truth than so many others.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by DA60 View Post
    'BENTONVILLE Arkansas (Reuters) - U.S. employers may be hiring again, but the job market's recovery is not giving ordinary consumers enough confidence to increase their spending, a top Wal-Mart <WMT.N> executive said on Monday.
    In an interview with Reuters at the retailer’s headquarters, Bill Simon, the president and chief executive officer of Wal-Mart U.S., said, “It's really hard to see in our business today … that it's gotten any better.”

    He added: “We’ve reached a point where it’s not getting any better but it’s not getting any worse – at least for the middle (class) and down."'

    Wal-Mart: US Job Rebound Not Spurring Spending - Business Insider


    So much for this great recovery...
    That's because most of the jobs during the recovery have been low paying ones. Ironic Walmart speaks

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by joG View Post
    So 100 million Americans are not getting richer for a while, because they have enabled more than 1.500 million starving poor to have jobs that compete. That is unpleasant for us. Sure. But for them it means they survive and their kids can even go to school.
    I might go along with that, but only workers are experiancing difficulties. Owners are making money hand over fist.

    And there are billions more to "bring up" before OUR wages start to go up again.

    And I'm also not convinced that will happen ever. A second world lifestyle is all business needs to provide. They can make up the difference in volume.

    The maquiladora phenomenon in Mexico proves that exploiting cheap labor isn't that effective. They're still coming here for a better deal.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    It is not the role of the government to "recover" the economy. Granted, Obama has hindered the economy's ability to recover by itself, but the businesses are the ones that need to take the lead. While I understand why the CEO of Wal-Mart does not wish to pay employees more, I would hope that he would not criticize the well-being of the middle class when he plays a large role in keeping people on the poverty line.
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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by Henry David View Post
    On a fairly regular basis, Paul Craig Roberts explains the tiny details of how and why the government's numbers regarding employment and inflation are but smoke & mirrors.

    I know too many people who cannot find a job to believe the government's numbers on unemployment.

    I'm surprised to see the WalMart dude make his comments public. He is much closer to the truth than so many others.
    I don't think the government is lying (they are too smart for that)...but I think they are knowingly tabulating and presenting the numbers (both the CPI and the U-3) in a way that provides a greatly distorted view of the reality on Main Street.

    The CPI as an inflation indicator is a joke....it is at best an inflation/cost-of-living hybrid.

    And the unemployment rate is falling because people are leaving the workforce...period.

    Just look at last month...288,000 jobs created.
    But look at the household survey numbers and you see that 799K part time jobs were created but 523K full time jobs were lost for a net loss in total hours worked. So it was a negative report but is reported as a good one.

    The U-3 is the same...it's a joke because it ignores discouraged workers.

    I ignore the headline numbers and the major media reports (they are clueless, IMO) and read the fine print...that is where the story is.


    It seems clear to me that this is a Mercedes/McDonald's recovery - with little in between; the Fed is indirectly pumping up the stock markets (GREATLY helping the rich) and gov't./Fed programs are causing rises in crappy jobs for a reduction in solid jobs (quantity over quality).

    So the rich get richer and the economy looks decent because the U-3 does not count discouraged workers AND part time jobs are counted equal to full time jobs.

    And the masses/media are too naive and/or too ignorant and/or too partisan to notice.
    Last edited by DA60; 07-09-14 at 05:43 PM.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by iacardsfan View Post
    It is not the role of the government to "recover" the economy. Granted, Obama has hindered the economy's ability to recover by itself, but the businesses are the ones that need to take the lead. While I understand why the CEO of Wal-Mart does not wish to pay employees more, I would hope that he would not criticize the well-being of the middle class when he plays a large role in keeping people on the poverty line.
    Wal-mart does not keep people on the poverty. Individuals employees do that themselves. They don't put the work in to move up, or require more skills that would make worth more to company or able to to a better paying job outside of wal-mart.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by What if...? View Post
    I might go along with that, but only workers are experiancing difficulties. Owners are making money hand over fist.

    And there are billions more to "bring up" before OUR wages start to go up again.

    And I'm also not convinced that will happen ever. A second world lifestyle is all business needs to provide. They can make up the difference in volume.

    The maquiladora phenomenon in Mexico proves that exploiting cheap labor isn't that effective. They're still coming here for a better deal.
    The phenomenon that we are watching is text book really. The reason owners of money to invest in productive plant do better is that capital is in higher demand with maybe 2 billion workers coming into the economy. That will turn around again, but it will take time. There are still about 2 billion people in subsistence that require employment.

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    Re: WAL-MART CEO: Things Aren't Getting Better For America's Middle Class

    Quote Originally Posted by joG View Post
    The phenomenon that we are watching is text book really. The reason owners of money to invest in productive plant do better is that capital is in higher demand with maybe 2 billion workers coming into the economy. That will turn around again, but it will take time. There are still about 2 billion people in subsistence that require employment.
    So a couple generations before we can see an increase in America?
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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