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(AP)   Behold! Mighty Wal-Mart hath suppressed U.S. inflation   (breitbart.com) divider line
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25042 clicks; posted to Main » on 04 Nov 2005 at 4:55 PM (17 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



165 Comments     (+0 »)


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TheGoblinKing
2005-11-04 3:14:36 PM  
OMFG! My 41r$t approved link! And it only took 3 years!!

/wet's himself
//did I make it past the filter?
 
Megain
2005-11-04 4:43:29 PM  
first approved link is filtered? (i guess i'll find out)

congrats, TheGoblinKing
 
rebeccahines
2005-11-04 4:57:58 PM  
Good job, TheGoblinKing!

I loathe Wal-Mart. Have been there once in four years.
 
Arnold T Pants
2005-11-04 4:59:44 PM  
Bring out the Wal-Mart haters and get this thread started.
 
hooks4feet
2005-11-04 5:00:33 PM  
They keep their costs down cuz all they sell is pure crap.
 
busy chillin'
2005-11-04 5:01:04 PM  
I hate Wal-Mart!

/here we go
 
MaxTigar
2005-11-04 5:01:13 PM  
"Wal-Mart is only telling part of the story, which is not the same as telling the whole story," Sefl said.


Man, I am sure glad she cleared that up!
 
johnNJ
2005-11-04 5:01:31 PM  
This was true 3-4 years ago, but the causality no longer exists.
 
nine-times
2005-11-04 5:01:32 PM  
"Consumers earned less in nominal dollars, but their income bought them more in the economy with Wal-Mart..."
Translation: Yes, yes, Walmart pays their employees for shiat, but they can still get by on those tiny incomes... so long as they do all their shopping at Walmart.
 
Velveeta_Poindexter
2005-11-04 5:01:37 PM  
I hear Wal-Mart also cured polio!!!!
 
feepness
2005-11-04 5:01:54 PM  
People will talk about how they hate Wal-mart instead of how the economy is being squeezed by high-priced oil on one side and low-priced goods on the other.

Goodbye middle class.

And it has very little to do with WMT. They are the symptom, not the disease.
 
swankywanky
2005-11-04 5:02:37 PM  
hooks4feet: They keep their costs down cuz all they sell is pure crap.

Side One: sell low cost, low quality crap and pay low quality wages to employees

Side Two: but, but, but...it's job growth!!!!

/please continue bashing defending WalMart though depdning on whether you want to belive there's a recession or not...
 
Headso
2005-11-04 5:02:37 PM  
Consumers earned less in nominal dollars, but their income bought them more in the economy with Wal-Mart because of real disposable income gains

Uhh what?
 
redlotuss9
2005-11-04 5:02:38 PM  
Yeah, MaxTigar, I think Miss Sefl get the "no duh" award for today.
 
TalonYoseiijo
2005-11-04 5:02:55 PM  
They're bringing down wages as well while gaining even more money via public subsidies. Huzzah wal*mart *rolls eyes*
 
underwhelm
2005-11-04 5:03:08 PM  
So though my money is worth less, it's all good because I can get more if I debase myself by shopping at Wal*Mart?

Faustian. I'll take the hit, thanks.
 
feepness
2005-11-04 5:03:09 PM  
nine-times:

Translation: Yes, yes, Walmart pays their employees for shiat, but they can still get by on those tiny incomes... so long as they do all their shopping at Walmart.

Replace "Wal-mart" with "the Government" and you have the true worker's paradise.
 
krelborne
2005-11-04 5:03:21 PM  
Mighty Wal-Mart hath suppressed U.S. inflation

That's amazing! Now, if it could only provide a clean, orderly store, things would be just peachy.

/ok, so not all Wal-Marts are like that, but many are
 
ButteryDamage
2005-11-04 5:03:48 PM  
I work for WalMart...

\Not really, may as well get it out though.
 
ZenGuru
2005-11-04 5:04:02 PM  
I bet most self-confessed 'Wal mart-hating' farkers shop there all the time...
 
Sir Charles
2005-11-04 5:04:27 PM  
Well its good to see that everyone here has a clear understanding of MacroEconomics.
 
Irascible [OhFark]
2005-11-04 5:04:40 PM  
Too bad everything you buy there falls apart 10 minutes after purchase. Other than that the prices are great!
 
simplethinking
2005-11-04 5:04:44 PM  
haha *golf clap* submitter

Nice headline.
 
Unfinish3d
2005-11-04 5:04:47 PM  
I hate wal-mart because they only sell popular and family friendly music, and given that a lot of people shop at wal-mart for everything, it prevents even slightly lesser-known bands from exposure.

/and the people there are creepy
//*once got asked for change in the middle of a wal-mart*
 
Sam_Walton
2005-11-04 5:05:52 PM  
That's right, pansies. Worship your new god in the new temples, where prices are low. Always.
 
susler
2005-11-04 5:05:56 PM  
The study was funded by Wal-Mart.

Of course it sets them forth in a positive light.
 
kabar
2005-11-04 5:06:13 PM  
he "rock-bottom" pricing strategy used by retail giant Wal-Mart has filtered into the US economy and kept a lid on inflation, according to a study commissioned by the company and released.

So, in summary, Wal-Mart claims Wal-Mart is good for the US economy.

Objective journalism surrenders.
 
Headso
2005-11-04 5:06:25 PM  
feepness: so long as they do all their shopping at Walmart.


walmart should expand to everything from home birthing kits to caskets and cemetary plots. Then sell ghetto style housing underground, under their parking lots, then someone could live their whole life as part of walmart.
 
feepness
2005-11-04 5:06:34 PM  
ZenGuru: I bet most self-confessed 'Wal mart-hating' farkers shop there all the time...

I don't hate wal-mart but I don't shop there because they have nothing I want. If I want low-priced electronics I use froogle and I don't buy low-priced consumer goods.
 
William 'Fat Tony' Williams
2005-11-04 5:06:44 PM  
"Wal-Mart is only telling part of the story, which is not the same as telling the whole story," Sefl said.

the posted article really does only tell part of the story. here's some more for you:

And to make sure the findings were credible, the company [Wal-Mart] turned over management of the conference to independent consultant Global Insight, which pledged to select papers only for their academic rigor, not for their pro-Wal-Mart bent.

The 10 papers are to be presented by economists, urban planners and other experts.

Some of their findings, which a few of the researchers released before the conference, tend to confirm what Wal-Mart critics have been saying for years.

At least two concluded that Wal-Mart stores' pay practices depressed wages beyond the retail sector. Another found that states on average spent $898 for each Wal-Mart worker in Medicaid expenses.

One study concluded that Wal-Mart's giant grocery and general merchandise Supercenters brought little net gain for local communities in property taxes, sales taxes and employment; instead, the stores merely siphoned sales from existing businesses in the area.

David Neumark, a senior fellow at the Public Policy Institute of California, found that "residents of a local labor market do indeed earn less following the opening of Wal-Mart stores."

Worse yet, he wrote, is Wal-Mart's influence in the South, where it has its greatest concentration of stores. There, Neumark and his coauthors found, Wal-Mart has decreased retail employment and total employment.

Emek Basker of the University of Missouri, however, found that Wal-Mart stores decreased prices across a region and increased total employment. And in a study of Ohio, economist Hicks found that a Wal-Mart store increased commercial property tax revenue and raised employment.

A study of the San Francisco Bay Area also presents a mixed picture. UCLA researcher Randall Crane and his coauthors found that once Wal-Mart established itself as the region's leading grocer the company is already the national leader it would probably depress grocery store employees' wages by hundreds of millions of dollars. But, they found, the company also would save shoppers hundreds of millions of dollars by offering cheaper food.

/Chicago Tribune
 
Ironpoint
2005-11-04 5:07:05 PM  
Whatever.

Houses, Gas, School, Medical, etc,etc are up by double digit percentages.
 
brandent
2005-11-04 5:07:25 PM  
"Wal-Mart is only telling part of the story, which is not the same as telling the whole story," Sefl said.
 
feepness
2005-11-04 5:07:30 PM  
Headso: then someone could live their whole life as part of walmart.

You will all become one with the Mart.

Why do you resist us?
 
Kuoxasar
2005-11-04 5:07:40 PM  
"The "rock-bottom" pricing strategy used by retail giant Wal-Mart has filtered into the US economy and kept a lid on inflation, according to a study commissioned by the company and released."

That's like the White House hiring someone to analyze Bush's job performance, then telling everyone what a good job he did.
 
cyberlost
2005-11-04 5:08:29 PM  
Zenguru

I'm sure that you are right for the most part. Only self-righteous jerks like me are telling the truth. I have not stepped foot in Wal*Mart in over four years.

Actually, that's not true. I did go to Wal*Mart about six months ago, but I did not make a purchase. I did, however, steal a roll of hem-tape. Thanks, Wal*Mart!
 
KleineFrau
2005-11-04 5:08:33 PM  
My problem with Wal-Mart can be illustrated this way:

Buy a blender for $20 from Wal-Mart, and one from a nicer store, costing, say, $80. With regular use, the Wal-Mart blender needs to be replaced every single year, while the nicer blender only needs to be replaced every ten years. So, rather than saving $60 by purchasing a cheaper blender, one has wasted $120 over a period of ten years, because one has to replace it more often.

While a waste of $120 over ten years does not seem significant, consider how much a regular shopper at Wal-Mart would buy. This does not only go for blenders, but for most of the cheap junk they sell.
 
HairlessWonder
2005-11-04 5:09:06 PM  
Fun cartoon about Walmart (pops)
 
abuttino
2005-11-04 5:09:35 PM  
This is pretty big. For a company to be so big that they have an impact on inflation, that's rather amazing.
 
swankywanky
2005-11-04 5:09:57 PM  
Kuoxasar: That's like the White House hiring someone to analyze Bush's job performance, then telling everyone what a good job he did.

didn't you just describe Fox News?

/ducks
 
nmhansen
2005-11-04 5:13:08 PM  
"Don't be blind, America. In-store health care is the next step toward Wal-Mart becoming a self-reliant, sovereign nation. Food, health care, housewares -- what can't you get there?"

Stephen Colbert warned us first!
 
Ward Cleaver
2005-11-04 5:13:31 PM  
Get the movie!
 
feepness
2005-11-04 5:13:45 PM  
KleineFrau:

While a waste of $120 over ten years does not seem significant, consider how much a regular shopper at Wal-Mart would buy. This does not only go for blenders, but for most of the cheap junk they sell.

Yeah I agree completely, but why is that a problem with Walmart? It sounds like a problem with cheap crap, or more specifically, those that buy cheap crap.

Walmart has found a niche selling to stupid people. They aren't the first, or even the biggest. See whitehouse.gov for a larger example...
 
Duffman
2005-11-04 5:14:25 PM  
[image from orlyowl.com too old to be available]
 
skrewewe
2005-11-04 5:15:13 PM  
I would never shop there

/just because we dont have one in Santa Barbara.......yet
 
ceconix
2005-11-04 5:15:54 PM  
I hate WalMart, but their prices are just so REASONABLE!
At least I can still hate Starbucks without having to buy their coffee... for now.

I would have to seriously consider suicide if Starbucks were to buy out Folgers.
 
StarFyre
2005-11-04 5:18:16 PM  
It is the battle of tobacco "scientists" and REAL scientists all over again...

Wal-Mart economists - we are good, trust us... low wages, but you can buy more...

Real Economists - they are Farking this country worse than the Bush Administration, as if that was even possible
 
lilplatinum
2005-11-04 5:18:27 PM  
swankywanky

/please continue bashing defending WalMart though depdning on whether you want to belive there's a recession or not...

Recession is defined as two sucessive quarters with a fall in GDP.

GDP was increased by 3.8% in Q3 of 2005.

We are not in a recession by virtue of the economic definition of the word.
 
Lusiphur
2005-11-04 5:19:35 PM  
in other news, wal*mart set the price for it's employees souls at $869 over a 20 year period.
 
JackPants!
2005-11-04 5:19:50 PM  
It's odd that many folks shopping at Wal*Mart are the same ones that have been put out of work by Wal*Mart products being manufactured overseas so that they're cheap enough for Wal*Mart to buy (and sell). I buy American whenever possible to support US jobs and the US economy. Next time you're in Wal*Mart, take a gander at who manufactures their US flags - likely it's Taiwan or China. We're putting ourselves out of work by shopping at Wal*Mart, America!
 
Dr._Love
2005-11-04 5:20:24 PM  
Gee, and this study gets top billing less than 72 hours after it is announced that Wal-Mart has a "War Room" to combat negative press. Only one thing to say, America:

Stephen got that one right!
 
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