New Numbers Reveal How Screwed We Really Are

Consumer numbers today show a huge decrease in spending among the country's poor. Dollar stores were hit hardest, showing a steep decrease in profit as people everywhere are running out of money. WalMart echoes the woes as their profits are way down as well. Know what isn't way down? Luxury items. That's right, the rich are spending like there's no tomorrow while the rest of us struggle with the bread crumbs they throw our way. They literally say "Let them eat cake," any no one gets pissed. What sheep we are. Here's what a CBS station in LA reported:

More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid America’s “Great Recession” — and one analyst said on Monday it’s another sign of even deeper downturn.

“I think what’s going on in those stores is that we are in a depression for 80 percent of Americans,” top retail analyst Howard Davidowitz told KNX 1070.

America’s three largest discount chains — Dollar General Corp., Family Dollar Stores Inc. and Dollar Tree Inc. — all recently missed their quarterly earnings targets.

Davidowitz pointed to the weakness of the dollar and a gloomy consumer outlook as some of the factors behind the stores’ slump.

“In those stores, somebody comes in with $12 to do all their shopping,” said Davidowitz. “The person who used to come in with $12 now comes in with $8.”

“In other words, the economy is continuing to be worse, the ... depression continues to explode,” he added.

This reminds me of Joe Biden's statement that "it's a depression for millions of Americans", Wal Mart CEO's statement that Wal Mart shoppers are running out of money, and many top economists' assertion that we're in a Depression.

For more check out http://www.washingtonsblog.com/2011/06/yastrow-we-are-on-verge-of-great-great.html. It's a well written look as to why we are actually in a Depression that no one wants to acknowledge.

I will give an about time to Obama for growing some balls. If the GOP wants to play chicken, let them. If the country sinks, it's their fault for not compromising on higher taxes for the uber rich and corporations. OHHH the capital gains tax goes up by five percent. Guess you won't have enough money for that sixth summer home.

Let's hope those balls stay with Obama. Current projections show that these programs will be paid for with the money we bring in: Interest on debt, SS, Medicare, Medicade, Unemployment, Essential Federal Programs (FBI, DEA and ATF ongoing essential investigations). That's it. So if you're in the military, getting foodstamps, welfare, work for the federal government in any way, shape or form, prepare to be cut off or laid off. Parks will close, government offices will shutter and no new claims for things like unemployment will be processed. Things are about to get real tough for a lot of us. Just remember, it's the GOP's fault.