Most U.S. politicians, economists and pundits claim the economy is rebounding. But Wal-Mart, the world's largest retailer says no, stating U.S. economic conditions are worrying customers and making them hesitant to spend. And retailers that include Macy's and J.C. Penney that typically sell to higher income customers are finding similar fears.
"Our core customer continues to be strained," Wal-Mart Chief Financial Officer Charles Holley told The Wall Street Journal Tuesday. "The volatility in the headlines doesn't help the customer. They are really stretched right now," and he noted more of its customers receive public assistance. U.S. politicians, economists and pundits can say all they like about a "recovering economy" but reality is measured in dollars and cents by those who sell to the American public.
Dick
To learn more, please see "Wal-Mart Frets Over Uncertainty," The Wall Street Journal http://online.wsj.com/article/SB10001424053111903480904576511962561155204.html
1 comment:
Economic growth is over. It's gone away for reasons that the Congress and president Obama simply can't fix. It doesn't help a bit that the republicans are even more clueless.
Oil fuels our economy and our per-capita access to oil has peaked and will drop from this point onwards. There is simply no evidence that renewables will be able to ramp up in time to replace the energy of petroleum.
http://youtu.be/EQqDS9wGsxQ
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