Wal-Mart, Wall Street and W: Three W's That Sank the American Economy and Boosted China

By GottaLaff

Mark Karlin, my pal who runs BuzzFlash, gives us a clear, concise tick-tock about how our economy hit the skids. Here are some excerpts (which aren't enough to do his piece justice). Please follow the link to read it in full:

I fully support the concept of the Obama "Main Street Job Creations Act," but only if it unleashes the American entrepeneurial spirit that the Republicans have stifled.

Because for all their talk of creating innovative small businesses, the GOP is actually the main roadblock to creating jobs in America that result in anything being actually produced.

If you start with Wal-Mart and its multi-billion dollar progeny, it's one big giant sucking hole of jobs to China. [...] And who benefits most from increased spending at Wal-Mart: the untold wretchedly low-paid workers at Wal-Mart Chinese manufacturing plants. [...] [A]t least in China, the consumers are buying goods manufactured in their own country, thus really creating jobs for Chinese workers. [...]

As for Wall Street, while the "Masters of the Universe" gambled hundreds of billions on exotic financial games -- such as derivatives and default swaps -- and then lost their bets, they left the American economy on the brink of a total meltdown. That is, until the Bush Administration came in and bailed them out [...]

And where do the loans come from to cover the massive gambling debt of Wall Street? Well, a large percentage of them come from -- you guessed it -- China. China will be covering a lot of the recovery package too. [...]

We haven't heard much from former President George W. Bush, but Bush stewarded in the final disastrous denouement of the Reagan "Revolution" of plundering the "vassals" of America to support the moneyed elite. By ensuring that the S.E.C. was neutered and that our national wealth became measured in worthless Wall Street "paper" instead of actual manufacturing production, "W." sealed our fate, helping China [...]

So there they are: the three W's that symbolize the economic decline of a nation that shipped its jobs overseas, became a high-finance gambling den and lost, and endured a president who made swindling the middle class "patriotic."

May I just say....

Go here for more.

Update: Wal-Mart shopper did NOT have miscarriage

By GottaLaff

I'm posting this update because so many people are commenting and/or talking about this woman, and fortunately, worrying needlessly. However, it's still disconcerting, to say the least, that any of this happened in the first place:

A Wal-Mart worker was killed Friday after an "out of control" throng of shoppers eager for post-Thanksgiving bargains broke down the doors at a suburban store and knocked him to the ground, police said.

At least four other people, including a woman eight months pregnant, were taken to hospitals for observation or minor injuries, and the store in Valley Stream on Long Island closed for several hours before reopening. [...]

A 28-year-old pregnant woman was taken to a hospital, where she and the baby were reported to be OK, said police Sgt. Anthony Repalone. At least three other people were taken to hospitals with minor injuries.

I hope that reassures everyone. She's fine. Sighs of relief all around.

Wal-Mart fires GOP lobbyist over Abramoff charges

By GottaLaff

From the Department of So What Else Is New:

Wal-Mart has fired Jim Hirni, its top in-house Republican lobbyist, who is expected to plead guilty to corruption charges in the Jack Abramoff scandal.

Another day, another GOP corruption charge.