TV News LIES

Friday, Mar 24th

Last update05:20:13 AM GMT

You are here News Economy The Problem With Transnationals And What To Do About It

The Problem With Transnationals And What To Do About It

E-mail Print PDF

New York’s Public Advocate, Bill de Blasio, recently released a very important study about Wal-Mart’s effects on local communities. It represents a major step forward in the understanding of the effects of Big Business.

The main conclusions are shocking, to the point, and make clear what damage Wal-Mart actually managed to do to the American economy. The fundamental conclusions are these:

  1. Wal-Mart store openings kill three local jobs for every two they create.  Wal-Mart is the biggest employer in the USA, with 1.4 million ‘associates’. The conclusion is that Wal-Mart alone has killed about 700,000 American jobs. Only Wall Street can boast greater destruction to the American labor market.
  2. Chain stores, like Wal-Mart, send most of their revenues out of the community, while local businesses keep more consumer dollars in the local economy: for every $100 spent in locally owned businesses, $68 stayed in the local economy, while chain stores only left $43 to re-circulate locally.  This means Big Business has a deflationary effect on local economies. And this in turn explains why Big Business destroys both employment and business.  These two conclusions are more than sufficient to make the study worth while, but I’ll give a few more just to further the point.
  3. Stores near a new Wal-Mart are at increased risk of going out of business. After a single Wal-Mart opened in Chicago in September 2006, 82 of the 306 small businesses in the surrounding neighborhood had gone out of business by March 2008.
  4. Wal-Mart’s average annual pay is $20,774, which is below the Federal Poverty Level for a family of four. In fact: a Wal-Mart 'spokesperson' publicly acknowledged in 2004 that ‘More than two thirds of our people . . . are not trying to support a family. That’s who our jobs are designed for.’  So, Wal-Mart is an effective accomplice in the social engineering campaign of our bosses, isolating people and consciously attacking the family unit.  The above makes abundantly clear that Wal-Mart and Big Business in general have a profoundly negative impact on economies, both locally and nationally.

More...


Most Recent Related Stories...


Fed hikes interest rates, signals two more increases for 2017

Interrest rates increaseThe Federal Reserve’s top policymaking body on Wednesday pulled the trigger on another increase in interest...

Deutsche Bank plunges back into the red with $2 billion loss

Deutsche Bank in the redDeutsche Bank is firmly back in the red.Germany's biggest bank posted a net loss of €1.9...

GM to lay off 1,100 at Michigan plant, move Acadia

GM to lay off 1,000General Motors Co. will lay off as many as 1,100 workers at its Lansing Delta Township...

Dow hits 20,000 following solid open for US stocks

DOW tops 20,000The Dow Jones industrial average crossed the 20,000 mark for the first time Wednesday, the latest...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!