last Feb (i think) there was an npr series on the "china-wmt" effect. it is estimated that wmt adds about $550 to the purchasing power of every man, woman, and child in America. that dwarfs the bush tax cut. if you're social-liberal concern is for the poor people of America... then you must applaud wmt as doing more to elevate the living standards of America's poor than any other institution in the country x/ the federal government.I work in a rural poor area. i see wmt's customers in my office every single day. Next time you go on a nice ski vacation, ask they lady who cleans your room about WMT's "ethics" and the distasteful low prices. Maryland wants to make WMT pay extra for health benefits for its workers when the WMT effect has already added immeasurably to the standard of living for all of the state's poor. You know, I came back to my poor Mississippi home town to work. Three out of every four people I see are in poverty. When I was little I remember the hardware store owner being a racist SOB and he used to really stick to the poor people who had no choice but to shop at his store. I worked at his store one summer. He'd give credit and charge interest to these poor people just like the sharecropper's/coal miner's dilemma. When WMT first came to town... guess who the loudest screamer was?Now it's 30 years later and that old guy still has that stupid little store... and you should hear him still complain about WMT. You wanna know the store I'd never set foot in... if my life was hanging by a rusty bolt... it's that store. To this day that guy extends credit and charges terrible interest to the poor people who walk in there.I know this scenario has played out all across the south... all across the southwest... all across Appalachia... everywhere where there are poor uneducated people to exploit. And still my GD liberal big city friends will happily tell me how they won't shop at WMT... principles and all (they shop at Lord&Taylor, Gap, eat at the Cheesecake fac and have grand times). And many of the people I treat... most esp the working poor... can scrape by largely because of the effect WMT's distribution has on food and clothing prices. Further, the fact that WMT has established itself in small towns across the poor areas of the country mean that those same poor people don't have to travel that far to get the remarkable benefits of a global distribution system. They can't go far... I have people walk to my office every day... not in designer walking suits... they walk because they don't have reliable transportation or they can't afford to use up much precious gas.It's just heartbreaking to hear these social-liberals with their "let them eat cake" attitudes unconcerned about the price of that cake. WMT shouldn't be allowed to break labor laws. They should pay an hour's wage for an hour's work. I have never, not one single time, heard a poor person complain about WMT. It's always rich well off ....I mean it's just sad, and they think they're liberals... they think they somehow care about the plight of the poor. It's one of the most unbelievable phenomena I think I've witnessed in my adult life
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat