Wal-Mart starts pointing out they are not spending as much as they used to on purchases as they used to:
NEW YORK (CNNMoney) — Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday. “We’re seeing core consumers under a lot of pressure,” Duke said at an event in New York. “There’s no doubt that rising fuel prices are having an impact.” Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in. Lately, they’re “running out of money” at a faster clip, he said. “Purchases are really dropping off by the end of the month even more than last year,” Duke said. “This end-of-month [purchases] cycle is growing to be a concern.
Gasoline prices are up, inflation has reared its ugly head, and the poor are going to be socked the hardest by these things. Bet you the democrats, the party of the little people, will blame evil oil companies, evil capitalist Wal-Mart, and in general everyone else, but their policies for this. Despite whatever bullshit they say, oil prices are up because of two reasons: the dollar has plummeted in value, and the new Obama Admin policy of blocking oil exploration and extraction is making speculators basically believe oil supplies are going to be negatively impacted sooner than later.
As the dollar loses value and energy prices continue to rise, because of the lack of any real and viable strategy from the left other than to steer billions to their friends pretending this green energy shit is a sound investment, the cost of everything that needs to be moved, refrigerated, and uses plastics, is going to go up. Drastically. Obama is hell bent on beating the malaise of the Carter years it seems. The poor should remember that.