Sunday, December 07, 2003

Another look at Walmart

Is Walmart a Good Thing?
"Wal-Mart is the greatest thing that ever happened to low-income Americans," said W. Michael Cox, chief economist of the Federal Reserve Bank of Dallas. "They can stretch their dollars and afford things they otherwise couldn't." But will they have any dollars to spend, if Walmart causes their own companies to shut down? That's the critical issue. From what I've read, that does happen - companies have to rely on cheaper overseas companies to produce these goods, thus depriving those very Americans who need to spend at Walmart, of their jobs. Catch 22.

Photo of the Day

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Quote of the day
"God is a comedian playing to an audience too afraid to laugh."

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