Those who know me know I'm no friend of Wal-Mart, the retailing mega-giant whose SOP (standard operating procedure) employs a low-wage labor force that comes into the job eligible for government assistance in the form of food stamps, housing grants and general relief. Combine that with the company's global search for the lowest-wage manufacturing locales and what you've got is a penny-wise/pound-foolish behemoth that could one day tip the whole retail market right into the shitter. If a rising tide lifts all boats, Wal-Mart is draining the pool just to pick up the nickels and dimes off the bottom.
Well, with that rosy picture in place comes the news that Wal-Mart's softer than expected 2nd-quarter earnings are being blamed in its own cash-strapped customers. Asked to explain what had happened, Wal-mart CEO H. Lee Scott said simply:
“Many customers are running out of money at the end of the month.”
Got that? The paycheck-to-paycheck Wal-Mart clientele are so broke at the end of the month they can't even afford to buy the crap that Wal-Mart is peddling.
If you're like me you can see where this is headed.
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