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Thread: Wal-Mart: Our shoppers are 'running out of money'

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Perhaps you guys saw the television report the other night in which jobs are coming back to the United States. Why? Because as China's wages are rising (those greedy Chinese workers!!!!) their low productivity coupled together are making it cheaper to do business here in the US. According to the report the average Chinese worker is only 1/3 as productive as their American counterpart.

    And as to the assertion that people can change their circumstances, just read the article on CNN money or any other financial magazine, the "American Dream," is dead for most people. Credit is near existent for the poor, GOP wants to slash student loans, and the economic upward mobility in this country is below that of Great Britain at this point. Not to mention most of the new jobs being created are service sector jobs not professional, or have you all been blind to the numerous reports of college grads who cannot find a job?

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Quote Originally Posted by tlmorg02 View Post
    Perhaps you guys saw the television report the other night in which jobs are coming back to the United States. Why? Because as China's wages are rising (those greedy Chinese workers!!!!) their low productivity coupled together are making it cheaper to do business here in the US. According to the report the average Chinese worker is only 1/3 as productive as their American counterpart.

    And as to the assertion that people can change their circumstances, just read the article on CNN money or any other financial magazine, the "American Dream," is dead for most people. Credit is near existent for the poor, GOP wants to slash student loans, and the economic upward mobility in this country is below that of Great Britain at this point. Not to mention most of the new jobs being created are service sector jobs not professional, or have you all been blind to the numerous reports of college grads who cannot find a job?
    LOL, and you actually believe that?

    And by the way, graduating from college has become so ridiculously easy with the liberal grading standards of today that it's no more valuable than a high school dipoloma from 1980. Most college grads couldn't pinpoint the start of the Civil War within 10 years or find Wyoming on a map.

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Quote Originally Posted by Erod View Post
    LOL, and you actually believe that?

    And by the way, graduating from college has become so ridiculously easy with the liberal grading standards of today that it's no more valuable than a high school dipoloma from 1980. Most college grads couldn't pinpoint the start of the Civil War within 10 years or find Wyoming on a map.
    I am 65, and fairly well off.
    my daughter is 38 and doing far better than me. She owns half a small internet business that generates almost $250K in taxable income per year. She and her partner can do it from their homes. It is an affiliate marketing business.
    My career was technical, and paid well. Hers is a service oriented business.
    I was Navy trained and above average in smarts, she has a degree in economics and more smarts than me.

    MY knowledge base would never have gotten me to where she is.
    She told me once, after I said something inane to her, that I am a wealth of useless knowledge. It is true. Useful knowlegde has to be relevant to the era, and a lot of what we use to think is important, just plain isn't anymore....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Quote Originally Posted by Erod View Post
    LOL, and you actually believe that?

    And by the way, graduating from college has become so ridiculously easy with the liberal grading standards of today that it's no more valuable than a high school dipoloma from 1980. Most college grads couldn't pinpoint the start of the Civil War within 10 years or find Wyoming on a map.
    So now college is worthless? What should the nations youth do then?

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    Re: Wal-Mart: Our shoppers are 'running out of money'


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    Re: Wal-Mart: Our shoppers are 'running out of money'

    today:

    New U.S. claims for unemployment benefits fell more than expected last week, but a rise in the four-week moving average to a six-month high indicated the labor market recovery will remain painfully slow.

    The four-week moving average of unemployment claims, a better measure of underlying trends, rose 1,250 to 439,000 - the highest level since mid-November.

    Despite the fall, claims held above the 400,000 mark for a sixth straight week, indicating payroll growth will only be gradual. The four-week average has now been above that level, which is normally associated with stable job growth, for four weeks in a row.
    News Headlines

    seeya at the polls, pals

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    today:

    Sales of existing U.S. homes unexpectedly declined, manufacturing in the Philadelphia region slowed and consumer confidence dropped, pointing to an economy that is struggling to regain momentum following the surge in energy costs.

    Purchases of existing homes decreased 0.8 percent to a 5.05 million annual pace in April, the National Association of Realtors said today in Washington. The Federal Reserve Bank of Philadelphia’s general economic index fell in May to the weakest reading in seven months, and the Bloomberg Consumer Comfort Index slumped to a nine-month low, other reports showed.

    Gasoline prices hovering close to $4 a gallon and rising grocery bills may discourage American households from taking on big purchases like houses just as manufacturing cools after leading the economy out of the recession.
    Home Sales in U.S. Drop, Manufacturing Stalls in Sign Recovery Is Flagging - Bloomberg

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Quote Originally Posted by j-mac View Post
    We have that already, its called minimum wage law, and these people in those thankless jobs as you put it, are they locked there? can they not do things to change their circumstances?

    Oh, you also said determined by state, by whom?


    j-mac
    The problem with min wage is it is not a living wage in a lot of places. In case you have not noticed the job market is crap right now. The best thing would be pay a living wage and you would get more loyal workers.
    ~Following My Own Flow~

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    Quote Originally Posted by Kali View Post
    The problem with min wage is it is not a living wage in a lot of places. In case you have not noticed the job market is crap right now. The best thing would be pay a living wage and you would get more loyal workers.
    I agree that minimum wage is not a living wage, but that's only a small fragment of the problems...

    As for loyal workers... there aren't many companies that are WORTHY of giving any loyalty to any longer. Most every company now treats it's employees as a number.

    A bigger problem in the job market is that we are keeping these "too big to fail" institutions from collapsing under the weight of their own corruption. Now, let's say those MAJOR manufacturers and banks all folded... well, now there's a vacuum for local ingenuity to force the creation of new fresh businesses that will replace those dinosaurs that should have already been extinct for some time.

    That would START to scratch the surface of the economic troubles the country... and much of the world, is facing.

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    Re: Wal-Mart: Our shoppers are 'running out of money'

    usa today:

    Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.

    The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.

    In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009.
    Job creation limps along after recession - USATODAY.com

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