Buy Low, Sell High: “Attention Wal-Mart ‘living paycheck to paycheck just to get by’ shoppers!!”
Wal-Mart reported a big sales jump in May; $350 million in tax stimulus checks cashed at their stores so far… Wal-Mart is targeting shoppers who are "living paycheck to paycheck just to get by," said company CFO. That group would of course include Wal-Mart workers… Talk about a self-fulfilling prophecy…
Multi-billionaire Warren Buffett has a piece of that Wal-Mart action, bought it a couple of years ago. They don’t call him the Oracle of Omaha for nothing…
"Hold the pickles, hold the lettuce, hold the hamburger!" NY Times reports gas prices hurting rural America the most… "People are giving up meat so they can buy fuel." On average Americans are now spending 4% of after-tax income on transportation fuel; in 1981, that figure was 4.5%, which was the highest since World War II.
Wall Street experts predict oil to go to $150 a barrel this summer….
You’re not alone– 1 in 11 mortgages past due at the end of March.. that’s almost 5 million loans and rising fast.
Barely a trickle…. The top 1% of American families make $382,000+ and in the years 1993-2006 that group added 50% of the country’s growth to their portfolios… in 2002-2006 they got about three-quarters of country’s growth. Census figures show that top fifth of earners in Manhattan made 52 times what the lowest fifth made, on par with disparity in… Namibia.
Not to worry, education is the great equalizer: Take NYC– in 2006, the city’s department of education called for a 1,703-seat reduction in Bronx school construction, by counting on 54% of incoming 9th graders not reaching their senior year… using failure projections education department justifies net decrease in demand for high school seats, even though high schools in the Bronx "remain severely overcrowded", according to the Urban Justice Center. "Rather than investing in teachers with strong qualifications, NY has devoted considerable resources to creating stricter disciplinary policies with harsher penalties in schools with large populations of students of color and low-income students," says the Center.