Thread: Run on banks in LA amid crisis; Wal-Mart CEO says customers

Run on banks in LA amid crisis; Wal-Mart CEO says customers are 'running out of money'
John Byrne
Published: Friday August 17, 2007





Wal-Mart CEO H. Lee Scott Jr. says customers are "running out of money."

Earlier this week, consumer juggernauts Home Depot and Wal-Mart reported softer than expected earnings.

Penned the New York Times, "the sober forecasts reverberated across Wall Street, sending the Dow Jones industrial average and the Standard & Poor’s 500-stock index down by nearly 2 percent, with the Dow dropping more than 200 points. Shares of both Wal-Mart and Home Depot fell around 5 percent.

"Economists said the sluggish performance of the chains — Wal-Mart missed its profit forecast and Home Depot’s earnings dropped — could signal broader troubles in the economy."

Buried in the article was a sobering remark indeed: “Many customers are running out of money at the end of the month,â€

[b]Buried in the article was a sobering remark indeed: “Many customers are running out of money at the end of the month,â€

[quote="nntrixie"][b]Buried in the article was a sobering remark indeed: “Many customers are running out of money at the end of the month,â€

We all need to send emails to Wal-Mart and Home Depot and let them know their earnings are down BECAUSE WE ARE TIRED OF WADING THROUGH THE IILLEGALS AT THEIR STORES AND ARE BUYING ELSEWHERE.

This trend will unfortunately continue until we bring back our manufacturing base to America! With good paying jobs being outsourced or insourced due to H-1b visas, America cannot sustain itself with service based jobs. These type of jobs are low paying and cannot support families.
What gets me is that greedy corps are only looking to improve their bottom line but when decent paying jobs are gone how are people going to afford their so called cheaper products.

Wages in this country have been stagnant for years now, and with everthing from food, housing, transportation, and education soaring how will Americans be able to afford anything. Before long we will be a third world impoverished country just like the globalist want. Keep the people poor and dependant so they cannot rise against the government! Isn't that the way Communism came about?

[quote="nntrixie"][b]Buried in the article was a sobering remark indeed: “Many customers are running out of money at the end of the month,â€

This is frightening and probably just the beginning. You've got one bank's customers already in a panic which has caused a bank run. Just this one alone is going to raise considerable fear about the stability of other banks and possibly create a domino effect with the greatest impact coming from the illegal population.

Coming from countries where most of them had no money to speak of, let alone a chance to have money in a bank, and very little, if any, education, it's been my experience that illegals, more often than not, just don't understand how it all works, and have difficulty understanding it when it's explained in even the simplest terms. What they understand is that they put their money in the bank, it's there when they want it, and that's all they need to know because someone else who understands how it works is taking care of all the fine details. The other problem is that the illegal population is very dependent on things they hear within their community and believe pretty much everything, particularly things that might negatively impact them, because that's what they are always afraid of. So, word spreads quickly, things get skewed, and they don't stop to think, they just react.

It's not going to take long for the fear to spread that their money isn't safe in any bank, and as much as these greed driven dimwits have built around illegals it could be disasterous all the way around.

I am not sure illegals keep all that much of their monies in the banks.

I think they are depositing it and transferring it for them. Banks makes lots of money off transfers.

Countrywide is a bank that DOES NOT cater to Illegals.

This was bound to happen! You take away jobs and nobody has any money to spend. I saw this coming years ago.
Cheap labor and foreign labor come at at price down the line.
If I could see it why can't those who are supposed to know see it.