Do you know the real reason?
"Regarding U.S. same-store sales for the companys fourth quarter,
ending Friday, Wal*mart said it expects sales, excluding fuel, to be
slightly negative to its earlier guidance of flat sales at Wal*
Why are those sales negative?
Chief financial officer Charles Holley said Wal*mart saw a
greater-than-expected negative impact from reductions in the
Supplemental Nutrition Assistance Program, or food stamps. The cuts went
into effect on Nov. 1.
Then it provides some right wing political cover by also blaming
But as anyone will tell you, the excessive buying before a storm
overcompensates for the loss of business from the storm, and that storm
days are the primary money makers for those selling groceries... (No
other food company is blaming storms, it should be noted.)
The economic impact of the Republican decision, and all their attempts
to rebuff Democrat's attempts to keep that SNAP option at a higher rate,
is very real. If you owned 10,000 shares of Wal*mart stock, this
morning in hours you lost $5,500... All because of Republicans... If
your town has a million shares owned by all its citizens who invest in
the stock market, your town just lost $550,000 dollars collectively,
thanks to Republicans...
Republicans only called out those eating with government money; called
them lazy.. and un-American. Those seeing the whole picture, were more
concerned with how the economy would react... We predicted that some
businesses would experience a 10% decline in food sales, matching the
10% decline in food stamps....
Now the recent cut agreed by the House just this week, will cut into
So why is Wal*
mart the most affected? The answer is because it is
cheaper. If one is receiving SNAP (or Food Stamps) one is already poor
and on a tight budget. It makes good sense if one has only $700 to spend
a month, to try and get as many calories as possible for that amount of
money. The best place to do that is Wal*mart.
mart did this to themselves. As one of the biggest funders to the
Tea Party, Wal*mart is one of the few corporations responsible for
putting the Tea Party Republicans in office. Ironic then that the Tea
Party chose to repay the favor by costing a few Wal*
their jobs, through the cutting of SNAP... Wal*mart should have lobbyied
their friends much harder to shelve or vote against it. They and all
other grocery chains now, should both advertise to the public and lobby
the Senate, NOT to pass the Farm Bill with 8 billion of further cuts to
The damage caused to all of society by not fully funding SNAP is severe
compared to the consequences that would occur, if that money was saved
by raising taxes on the wealthy....
Retail Food is a huge engine of our economy. Putting water into the
gasoline that feeds that sector, will have dire consequences,of which we
are beginning to now see. Wal*
mart and other grocers need to get active
on the Hill now, lobby against any SNAP cuts in the Farm Bill, threaten
to withdraw funding for all rural conservative candidates,.. or face a
rather dismal, ten year slump.....