Or you could just pump capital into the anemic economy like weve been saying all along? But noooo...weve got to cut back and stop that there guberment spendin cause Senator Diaper Rash of Louisiana says guberment is out of control. The slack-jawed hicks have cut off their nose to spite their slack-jawed face: Walmart is citing food stamp cuts as one reason for declining sales. Fully 20 percent of Walmart’s customers use food stamps. The article notes that Walmart isn’t the only retailer that experienced a bad fourth quarter last year. Outlets from Sears to Best Buy to Amazon experienced flat sales or slowed growth. But all of this bad business news is continuing evidence that the economy has yet to recover from its prolonged, Japan-style slump. I’m particularly struck by the example Walmart’s declining sales provides of the wages of austerity economics. The government induces cutbacks, people have less money in their pockets, businesses suffer. The next step is that those same businesses start laying off people. Then the G.O.P. geniuses start telling us “It’s time to tighten our belts,” and it’s lather, rinse, repeat.
Posted on: Mon, 03 Feb 2014 17:55:52 +0000
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