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Neo-Classical Economics got us a 'Neo-Classical' Depression (2007-????)
Maynard Keynes was far closer to reality, and our history shows that.
Anyway, when 'Production advantage is solely determined by Wage Advantage, then it is perversion of Ricardo's theory of Competitive Advantage.'
Krugman said that.
And he believes that the US Economy can function sans Middle Class- some 'Liberal'!
Gotta run.
Actually neo-classical economists sees the "great recession" coming. Actually, they are the first one to speak up but no one believes in them. The formal chairman for the Fed believes in "Fisher" school of economics, and the politician are pumping a extreme complicated "supply side" economy. Don't forget most neo-classical economists did not disregard Keynesian, most them are more closer to Keynesian than classical because it does work until inflation get out of control.
Social economy theory is starting to gain momentum theses years. Since even a correct theory is proposed, without political well and societal support, it will be useless.
First and foremost wm does most of their buying from china.......
China is a enemy of these United States ! Always has been, always will be.
Since the buying is done in that dump, jobs here are lost. People here suffer.
wm does this all for the mighty dollar.
wm also has poor business practices and treats many employees unfairly.
But like so many that ARE employed today people stay because they NEED
the job.
I agree with both statements above and have one more.
Walmart is well known for hiring illegals. Every once in a while they're raided and given a slap-on-the-wrist fine, but the hiring continues. I've been to Walmart in quite a few states and the one commonality I always notice is that there are always Mexicans/South Americans/? hanging around.
Actually neo-classical economists sees the "great recession" coming. Actually, they are the first one to speak up but no one believes in them. The formal chairman for the Fed believes in "Fisher" school of economics, and the politician are pumping a extreme complicated "supply side" economy. Don't forget most neo-classical economists did not disregard Keynesian, most them are more closer to Keynesian than classical because it does work until inflation get out of control.
Social economy theory is starting to gain momentum theses years. Since even a correct theory is proposed, without political well and societal support, it will be useless.
Yeah, but 'seeing' it coming, and understanding that what they believe caused it are two different things:
I give you Dr. Robert Reich, a brilliant man with whom I've had the honor of speaking with (brief conversations, I assure you) on two seperate occasions.
If politicians did 'pump' money into the economy to the degree needed (like the NRA did in the 30's) then I just might vote for Obama & Co.
But, alas, all we really saw was a water sprinkler delivered when four max capacity pumper trucks were needed.
Ben Bernacke is just another Alan Greenspan, don't fool yourself:
He doesn't really adhere to any school of thought, except the 'Keep Ben Bernacke's rear end out of the lawnmower' school of Neo-Classical, Keynesian, outright panic
[quote=Creek Hollow;16173387. I've been to Walmart in quite a few states and the one commonality I always notice is that there are always Mexicans/South Americans/? hanging around.[/quote]
Yeah, but they are only here because we destroyed their economies.
First off, thanks Cali for a different post: I was gonna shoot myself if I saw another Is Charleston Safe, What to do? My GOD there's 145 pages of that. So now, where to start:
e) There selection in the grocery side sucks! Seems like they are switching everything over to "great value" - Sorry but I don't want "great value" raviolli.
f) The kicker: Neighbor goes to WM, loads up grocery cart, his 8 yr old son is helping him unload it and grabs the beer out. Cashier says "WOOAA" I cant sell you that beer now b/c a minor touched it!! WHHHATTTT?? So he walks back 24 isles to grab more beer, while everyone's waiting for him of course. Now she can sell this beer because it wasn't touched. REALLY?!?!?!?!!? If it was me, I woulda left all my crap there and went somewhere's else.
I cannot argue economic theory. I can only argue economic reality.
It is all well and good to have principles and ideals about "slave labor" in China and unfair treatment towards employees (I would actually like details about that--it seems quite generalized).
But the reality of it is that now, right now down the street from you, people are hurting. They simply have less money to spend. And yes, they are caught perhaps in the trap WM helped create with manufacturing jobs going overseas.
But, again I say, when it comes to buying food, WM is cheaper, maybe the cheapest. Food from WM is not the problem. If the corn in Corn Flakes made by Kelloggs is coming from Timbuktu and not from Kansas, it is still from Timbuktu whether you buy it from WM for $2.00 or from your local grocery for $3.75. Once the Corn Flakes are made and distributed, where the ingredients are from is beyond your control unless you make a conscious decision not to buy cereal. (BTW Florida Naturals OJ is from Florida oranges).
Heard a story on NPR this past week about the families who show up at WM at midnight on the last day of the month b/c their goverment checks have just been deposited and they are there to buy food. They intereviewed a couple--both with jobs--who had 5 kids and have a budget of $400 a month for food. (I think those details are right).
People who are trying to keep their children fed and clothed perhaps do not have the luxury of protesting orange juice made from Brazilian oranges. Maybe they are just thankful to buy inexpensive OJ.
And going back to the cupcakes, maybe the question should be why the bakery cupcakes are $3.00 each. Are they really worth that? Are we really paying for better ingredients? Or for the fact that the bakery has more overhead, more rent, higher insurance premiums compared to their income, and cannot buy in bulk the same way WM can?
And I disagree that WM does not do anything well. They have an amazing inventory and distribution system that other companies could learn from.
Yeah, but 'seeing' it coming, and understanding that what they believe caused it are two different things:
I give you Dr. Robert Reich, a brilliant man with whom I've had the honor of speaking with (brief conversations, I assure you) on two seperate occasions.
If politicians did 'pump' money into the economy to the degree needed (like the NRA did in the 30's) then I just might vote for Obama & Co.
But, alas, all we really saw was a water sprinkler delivered when four max capacity pumper trucks were needed.
Ben Bernacke is just another Alan Greenspan, don't fool yourself:
He doesn't really adhere to any school of thought, except the 'Keep Ben Bernacke's rear end out of the lawnmower' school of Neo-Classical, Keynesian, outright panic
I didn't mention Ben at all. Btw, Ben controls monetary policy which is separate from the fiscal one. Fed already did all it could. Btw, using not big enough FISCAL stimulus to argue that you didn't vote for Obama just odd....first, he is not even in the office at that time point, how do you know how BIG the stimulus will be. 2nd, he still proposed the largest stimulus project than any of his competitors. As for now, I really hope government did not thing, so the critic of Obama will truly taste what a depression is like. I don't really care you see, I was shorting and got plenty of cash at that moment. A deflation will only benefit me. Now I am betting a out of control inflation if the market didn't crash in the next 3 months (betting means that I am out of cash and into inflation hedge like real estate; yes you heard right real estate, risky but I think the return will be great). The Fed is very nervous right now because the current trend is setting up for another big crash, but I don't think America has the political well to prevent it.
If it's true what one of the previous posters said about China finally starting to protect it's workers from being exploited, then I must applaud China for doing so.
I cannot argue economic theory. I can only argue economic reality.
It is all well and good to have principles and ideals about "slave labor" in China and unfair treatment towards employees (I would actually like details about that--it seems quite generalized).
But the reality of it is that now, right now down the street from you, people are hurting. They simply have less money to spend. And yes, they are caught perhaps in the trap WM helped create with manufacturing jobs going overseas.
But, again I say, when it comes to buying food, WM is cheaper, maybe the cheapest. Food from WM is not the problem. If the corn in Corn Flakes made by Kelloggs is coming from Timbuktu and not from Kansas, it is still from Timbuktu whether you buy it from WM for $2.00 or from your local grocery for $3.75. Once the Corn Flakes are made and distributed, where the ingredients are from is beyond your control unless you make a conscious decision not to buy cereal. (BTW Florida Naturals OJ is from Florida oranges).
Heard a story on NPR this past week about the families who show up at WM at midnight on the last day of the month b/c their goverment checks have just been deposited and they are there to buy food. They intereviewed a couple--both with jobs--who had 5 kids and have a budget of $400 a month for food. (I think those details are right).
People who are trying to keep their children fed and clothed perhaps do not have the luxury of protesting orange juice made from Brazilian oranges. Maybe they are just thankful to buy inexpensive OJ.
And going back to the cupcakes, maybe the question should be why the bakery cupcakes are $3.00 each. Are they really worth that? Are we really paying for better ingredients? Or for the fact that the bakery has more overhead, more rent, higher insurance premiums compared to their income, and cannot buy in bulk the same way WM can?
And I disagree that WM does not do anything well. They have an amazing inventory and distribution system that other companies could learn from.
Near Slave Labor Sweat Shops in China Lead to Worker Suicides » Secondhand Smoke | A First Things Blog (http://www.firstthings.com/blogs/secondhandsmoke/2010/06/30/near-slave-labor-sweat-shops-in-china-lead-to-worker-suicides/ - broken link)
So our working poor have to compete against their working poor to see who can get the cheapest orange juice?
And meanwhile, they are the working poor because their jobs with Minute Maid are off to Sao Paulo.
Super.
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So he walks back 24 isles to grab more beer, while everyone's waiting for him of course. Now she can sell this beer because it wasn't touched. REALLY?!?!?!?!!? If it was me, I woulda left all my crap there and went somewhere's else.
