"Sell the end product at the luxury high-end stores, to the only people who could afford it--the wealthy--while the people who shop at Wal Mart can go hang."
That describes to a tee the situation we're evolving into. The Wal-Mart shoppers will swing the minute they lose their jobs or their credit, and that figure is increasing at a rate of a half-million a month. And it didn't start with Obama, it's been picking up steam for a year while were told repeatedly and shrilly that it was all whining, leftist media fearmongering, and that we had a fundamentally sound economy.
What you market mavens never seem to take into account in your business decisions is that what makes great sense for your company's profit picture in the short term may be very bad business for the economy as a whole in the long run.
We are all interconnected, every thing we do affects everyone else, often in ways we don't understand. But in this case, it doesn't take a genius to figure out that if you succeed in cutting your labor costs to zero, there will be no one left to buy the stuff you're selling.
Of course, the people who can afford it, the wealthy, will always be able to get what they need.
Off Topic » in reply to re: We already know.
Isn't that what we've got now?
The whole thread (44 posts)
- I do not understand something about *this* recession...[big surprise]
- There was well over 200 billion worth of tax cuts in that stimulus package
- Once the markers were called...
- (targeted) government spending produces more jobs than tax cuts.
- re: I do not understand something about *this* recession
- Money
- Because this time, the tax cut came first.