NEW YORK (MarketWatch) – Wal-Mart shares were up slightly in premarket trading on Monday after the world’s largest retailer said it plans to cut more than 11,000 jobs at its Sam’s Club wholesale club chain.
When the only way to show profit is to slash jobs…
When the only employer growing is the Fed gov…
When your whole economy is based on consumption…
When production and manufacturing jobs are a figment of our past…
Well, I will let each of you fill in the blanks.
One has to imagine, they are cutting jobs now, what are they going to do when the Commercial real estate bubble pops.
What will Keynesians do? They will fire up the printing press!
Yeah, are you glad we had that stimulus? Boy, that worked.
In the State of the Union address, will Obama repeat his assertion that the current problem with the economy is “greedy” employers laying off workers for the sake of profit?
Perhaps he will have a plan to punish such employers.
That Goldman Sachs chart does look very bad.
[quote]Bill Roberts wrote:
In the State of the Union address, will Obama repeat his assertion that the current problem with the economy is “greedy” employers laying off workers for the sake of profit?
Perhaps he will have a plan to punish such employers.[/quote]
It seemed to work ok for FDR. Think of how much worse the GD would have been had companies not kept employment and wages high to the point of collapse.
