Friday, June 10, 2011

Wal Mart Annual Meeting

Was today;  I'm sure there will be a fawning story in the local paper about it tomorrow, already one story about how they are going to see better (domestic) sales real soon now, it is all about the merchandise mix.

No, it isn't. Wal Mart are up against the effect of shipping their customers jobs to China.

They (Wal Mart) can continue to look for new fields to conquer, but until the working class in American has good factory jobs again, Wal Mart same store sales will continue to lag.

Well, things are almost certainly going to get worse with all the Republicans in congress, see Krugman's column today about "Rule by Rentiers", even if it was edged off of the top of the most emailed list by the story about the Great French Hamster.  Honest.

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