Posted on 05/02/2008 11:31:41 AM PDT by outfield
It's tax rebate time, and no one is hungrier for the tax rebate checks arriving in mailboxes today than Wal-Mart. The retailer is advertising tax-rebate sales and has offered to cash the checks for free -- all in hopes that consumers will spend their newfound money at Wal-Mart stores. But spending your tax rebate at Wal-Mart won't stimulate the economy -- and here's why.
(Excerpt) Read more at news.yahoo.com ...
“I’m talking about how stupid it is to constantly deficit spend to “stimulate” the economy.”
I agree, but you did make the claim that we’re specifically borrowing from the Chinese to pay for the stimulus package. Do you have some proof of that or was it just hyperbole tied to this Walmart article?
Nice chicken little dogma. Sounds all macho and ominous and "Wise". Only problem is it total nonsense from an Economics stand point.
All economies are primarily driven by consumption. If no one is consuming, you have get a recession. You cannot drive your economy without most your economic activity being driven by consumption.
Thanks.
One could write a book on all the lies that capitalism-hating lefites tell about Wal-Mart and McDonalds. Not coincidentally, these are the two biggest companies in their market and American icons.
I just love the spin they put on that makes it appear like people have no other choice in life but to work at Walmart.
As of Feb 2008, China owns $486 billion of our debt. That equates to around 20% of all foreign owned debt.
http://www.treas.gov/tic/mfh.txt
I hate Marxists too. But I like what you say about Wal-mart. I never have understood all the hoopla about how bad Wal-mart is. Unions hate Wal-mart. Millions of people spend BILLIONS of dollars at Wal-mart and apparently love them.
Wal-mart made $378 billion in revenue and only $12 billion profit.
Exxon made $358 billion in revenue and $50 million in profit.
Who do we hate?
JH
Well said. This is economics 102 or 103, and you can't say it enough.
Well, us bitter, fanatical, gun-loving, uneducated lumps in fly-over country never got us no good education so Wal-Mart is all we can do. ;)
“Well, us bitter, fanatical, gun-loving, uneducated lumps in fly-over country never got us no good education so Wal-Mart is all we can do. ;)”
Well it’s that or selling hubcaps! ;)
This thread is useless to those that are not getting a “refund” (meaning those that pay the most in taxes get stuck again as always).
“This thread is useless to those that are not getting a “refund” (meaning those that pay the most in taxes get stuck again as always).”
They probably don’t shop at Walmart anyway. ;)
Considering the almost total ignorance of how our economy actually works displayed by the average citizen, most of our politicians, and ALL of our reporters, it amazing we managed to survive this long as a nation!
More “I hate Wal*Mart” propaganda. Funny how I never hear much about Costco.
LOL!
I guess you just define the word "fact" differently than most people. You probably shouldn't believe everything you read on the internet. In 2006, IIRC, less than 10% of Wal-Mart's total purchases came from China. But don't let that stop you from believing what you read on anti-capitalist web sites.
No, not remotely true, this nation became an economic power on the back of PRODUCTION... it has only in the last 20 years or so of its history switch to being a primarily consumption economy.
This isn’t dogma my friend its fact.
Up through the 70s this nation economy was 70% or higher production and 30% consumer driven, now just 30 years later those numbers have switched.
Production generates jobs, distributes capital and generated wealth because it CREATES something.. For every direct production job over 3 other jobs are created.. for every service job, less than 2 other jobs are created.
You can continue to be ignorant of history and economic truths so you can keep worshiping blindly at the false idol of “free trade”, I’m sure you won’t be lonely there for a while, but over time, you’ll find fewer and fewer their clapping you on the back for your wisdom, as cold hard reality can no lonter be denied.
Exxon made $358 billion in revenue and $50 million in profit.
And, but for a few branches, the US government made NO revenue and yet pulled in trillions of dollars from the taxpayers last year.
Yes, they do! ;)
“They probably don’t shop at Walmart anyway. ;)
Yes, they do! ;)”
You know, I have a friend of mine who makes a lot of money and claims not to shop there. But come on, when you need a shower rod and curtain, will you go the Walmart a mile away or drive 20 miles to the Bed, Bath and Beyond? lol
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