Today I read in the Wall Street Journal that the Dollar-store chains missed estimates of sales growth. What was interesting was the quote included in the article from Dollar Tree CEO Gary Philbin:
"Our customer just doesn't buy some of the categories...until she really needs it."Some of my readers have suggested that I am out of touch economically with the significantly worsening plight of America's declining working class.
Cited in A. Prang (2018, June 1). Dollar-Store Chains Hurt by Costs. The Wall Street Journal, B3.
That accusation must be true because it really struck me that customers shopping at the dollar store would have to hold off on purchases, most of which cost less than $5.
I spent more than half of my life without any money and also shopped at the dollar store years ago when we struggled to raise a family, pay for child care, and a mortgage while saving for the future.
The key difference today seems to be that there is less mobility so more people are trapped at the bottom, unable to find jobs that pay enough for upward mobility.
Worsening the prospects for Americans' mobility are new tax laws and de-regulation that will reinforce extractive policies and programs controlled by the top 5% of the population.
Today's dollar store economics point to revolutions of rising expectations and the state's repressive apparatus is preparing....
Many people in america get it, Majia. College kids get it. They know that the democratic party is controlled. by what might as well be republicans.
ReplyDeleteThe two party system sold most of us out.
It makes me sad that you fell that people do not appreciate, you and your families struggle. That tells me you are not having such a great time. I am sorry. Struggling people, need your voice.
Paul Craig Roberts gets it about the sell-out and, no democratic alternatives. In some respects there are not even so many people, in a position to be able to care, as things are now.
It is good, that there are smart, caring, people like you around.
People, who have worked hard, are doing ok and, do get it. Even if some of us are not doing so well, it gives us some hope to know some people can, and do care.
Young people with kids, know that trump and conservative democrats, are continueing to bankrupt their future. They know their access to real healthcare is getting so bad and only so many doctors can help.
Talk to college kids. They will tell you, the people in the cities, who call themselves liberals, are not liberals at all. They are status quo rich, who do not want to change things, from the way they have been for 38 years.
The kids will tell you that most of the people, who have enough time and money, to do anything about politics anymore, are of the same ilk. They are rich corporatist republicans and corporate democrats, playing games. Those kids are aware of the crapola.
They do not give a shit about clinton or obamy, or trumpo. They know how phoney it all is.
I know a lady from Puerto Rico. 4600 people have died unnecessarily, since hurricane Maria. She had to leave puerto rico. Her sons are early twenties. One son was in NYC.
She went to NYC, with the her other son. She left NYC and has to work 3 jobs at walmart, burger king, a sandwhich shop to pay rent. Little sleep. She had to go get her two sons from NYC, because they could not make it there. They worked hard, could not make rent. I feel so bad for her and her sons.
I know many who are struggling, so very hard. Some have even had cancer.
I didn't mean to imply that people don't appreciate my struggles. What I tried to explain is that there used to be more ECONOMIC MOBILITY. I was able to attend a fine public university at a rate that was less than $700 a year in tuition. That was life transforming for me. Today tuition is significantly more and competition for jobs much greater. There is less mobility today than when I was young.
ReplyDeleteIt is true that many among the democratic party have lost whatever accountability previously held to average working people.
However, elections represent a way of redressing this problem.
You are a very good person majia. Many people are afraid for their kids. At least we can get a rational picture of what is going on through your books and writing.
ReplyDelete