Woe is to Wal-Mart...
Apparently, Wal-Mart is struggling of late. According to CNN Money, Wal-Mart's shoppers are "running out of money."
Wal-Mart CEO Mike Duke says that consumers are "under a lot of pressure," and that "rising fuel prices are having an impact."
Well, rising energy prices and inflation sure can't be helping things. But Duke might be wise to step back and look at the big picture. Millions of U.S. jobs have been outsourced to China, thanks to companies like Wal-Mart that source from overseas.
Simply put: When a U.S. worker loses their job at an American textile factory, for example, they're less able to afford China-made socks at Wal-Mart.
Just something to ponder...
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