What Is The Real State Of The U.S. Economy?

[No DUplicitous DUpe]

What Is The Real State Of The U.S. Economy?
From http://sane-ramblings.blogspot.com/2011/08/what-is-real-state-of-us-economy.html

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.

To learn more, please see "Wal-Mart Frets Over Uncertainty," The Wall Street Journal http://online.wsj.com/article/SB10001424053111903480904576511962561155204.html

[izquierdista]

1. No more blood in that turnip

I guess Wally is going have to look elsewhere for other turnips to squeeze dry.

[jwirr]

2. That is the real question. What is the state of our economy if our

president is asking all of us to sacrifice? I am tying the two together because I do not want to sacrifice when I am not told the complete story. Unfortunately we now distrust politicians so much that I doubt we would believe them even if they are telling us the truth. They are asking for blind trust and I do not like that situation.

[Hydra]

3. It's not a matter of belief anymore

They're shoveling money at the 1%, while telling us we need to "sacrifice" equally.

To believe otherwise requires you to shut your eyes, ears and mind, and then to give them our parents on a silver platter.

All I have to say is, "Huh? Who do you think you're fooling?"

[marmar]

4. It's a Weekend at Bernie's economy.......

...... They keep propping up the corpse but soon the stench will be overwhelming.

[TBF]

5. "Hesitant" to spend? Try UNABLE to spend. The money has all been given to the rich -

and they ain't shopping at Walmart, Macys or JCPenney.


Even Marked Up, Luxury Goods Fly Off Shelves
By STEPHANIE CLIFFORD
Published: August 3, 2011

Nordstrom has a waiting list for a Chanel sequined tweed coat with a $9,010 price. Neiman Marcus has sold out in almost every size of Christian Louboutin “Bianca” platform pumps, at $775 a pair. Mercedes-Benz said it sold more cars last month in the United States than it had in any July in five years.

Even with the economy in a funk and many Americans pulling back on spending, the rich are again buying designer clothing, luxury cars and about anything that catches their fancy...

http://www.nytimes.com/2011/08/04/business/sales-of-luxury-goods-are-recovering-strongly.html

[quiller4]

6. Actually Macy's and Penneys sales are up and their customer

traffic for back to school is better than any year since 2007. The mid-range and high-end stores are doing well. Target is holding its own. Wallmart made a pitch for middle income shoppers bringing in some vanity brands. Their efforts failed to woo shopper with the money to go elsewhere.