The market is spiraling. China who is the second largest U.S. debt holder has an economy that is spiraling oil prices are spiraling and what about WalMart?
Walmart to shutter 269 stores – including more than half in US
Guardian: The retail giant announced it is working to transfer 10,000 US employees to nearby stores, as CEO said closings are ‘necessary to keep the company strong’
Walmart is closing 269 stores, more than half of them in the US and another big chunk in its challenging Brazilian market. The stores being shuttered account for a fraction of the company’s 11,000 stores worldwide and less than 1% of its global revenue, but according to workers’ group Making Change at Walmart, this announcement will affect 10,000 US employees.
More than 95% of the stores set to be closed in the US are within 10 miles of another Walmart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations.
The store closures will start at the end of the month, and many closures will be of the company’s Walmart Express stores: all 102 of them (out of the 154 locations to be shuttered in the US).
In 2011, Walmart Express marked the retailer’s first entry into the convenience store arena. The stores are about 12,000 square feet and sell essentials like toothpaste. But the concept never caught on as the stores served the same purpose as Walmart’s larger Neighborhood Markets: fill-in trips and prescription pickups.
By: Greg Campbell
During his final State of the Union Address on Tuesday, amidst his unseemly campaign politicking in a year where he is ineligible for reelection, President Obama sniped at Republicans and touted supposed economic successes that have occurred under his stewardship.
He even insisted that anyone “claiming that America’s economy is in decline is peddling fiction.”
To hear Obama speak of supposed economic success is hardly surprising; the president has long kept his own counsel and obliged himself his own conjured facts and false realities.
His administration has touted “bringing peace to Syria” as an accomplishment. As Obamacare takes effect like Cancer metastasizing in a body, he continues to assert that Americans love it and that it is working. He insisted just last week that he held the constitutional authority to undermine the Second Amendment without Congress.
So, it is of little surprise to discover that this same delusional man asserted that it is those who warn of Obama’s economy that are “peddling fiction.”
The fact is that by simple and complex metrics alike, it’s easy to see the devastating toll his “leadership” has taken on our nation’s financial health.
It turns out that not only is Obama being less-than-honest, but he’s outright lying. Obama’s economy can boast of the worst economic numbers in over 80 years!
The Wall Street Journal reports:
The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.
From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.
The revisions were released concurrently with the government’s first estimate of second-quarter output.
Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, overall the economy has failed to break out of its roughly 2% pattern for six years.
Obama, admittedly, came to office at a time when America was in trouble. Applying for the job of president, he promised to help revitalize the economy. What came from him and his Democratic minions in Congress was a punishing program of job-killing economic burdens on job creators and an expansion of government increased government dependency and that squeezed more and more out of the middle class and the lower class.
The Daily Caller reports on Obama’s failures:
Over the first five years of Obama’s presidency, the U.S. economy grew more slowly than during any five-year period since just after the end of World War II, averaging less than 1.3 percent per year. If we leave out the sharp recession of 1945-46 following World War II, Obama looks even worse, ranking dead last among all presidents since 1932. No other president since the Great Depression has presided over such a steadily poor rate of economic growth during his first five years in office. This slow growth should not be a surprise in light of the policies this administration has pursued.
An economy usually grows rapidly in the years immediately following a recession. As Peter Ferrera points out in Forbes, the U.S. economy has not even reached its long run average rate of growth of 3.3 percent; the highest annual growth rate since Obama took office was 2.8 percent. Total growth in real GDP over the 19 quarters of economic recovery since the second quarter of 2009 has been 10.2 percent. Growth over the same length of time during previous post-World War II recoveries has ranged from 15.1 percent during George W. Bush’s presidency to 30 percent during the recovery that began when John F. Kennedy was elected.
Facts and figures are to Obama like BBs to a tank; they just simply bounce-off without having any real effect.
When he and his fellow Democrats encounter facts that do not jibe with their preferred narratives, they simply deny reality in favor of crafting a new one to spoon-feed to the lapdog media and the government-dependent and government-created invalids who are willing to believe his lies without any semblance of critical thought.
In truth, it takes no economic genius to understand our situation. It requires just some honest observation.
Are jobs more plentiful than they were before?
Is it easier to obtain the American dream now than before?
Is $18 trillion+ in national debt a good indicator of economic stability?