Joe Biden is flitting about the country — with his compliant media in tow — claiming that the economy is doing great. But Walmart has published its own economic data that shows that the economy is not doing well at all.
Walmart CEO Doug McMillon is warning that the economy is far softer than expected. The trends in October were so bad, it made them “pause and rethink the health of the consumer.”
The nation’s largest retailer saw a sharp falloff in sales during the last two weeks of October.
In fact, it’s so bad, they are even more cautious than they were three months ago.
Will this presidential election be the most important in American history?
One of the biggest problems is that inflation has been so bad for so long that it is still hurting the economy.
JUST IN: Walmart, $WMT, falls 8% as CFO says October trends have made them "pause and rethink the health of the consumer."
More specifically, Walmart said they saw a sharp falloff in sales during the last 2 weeks of October.
Management said there is still strain on the consumer… pic.twitter.com/hYdbA2VF8X
— The Kobeissi Letter (@KobeissiLetter) November 16, 2023
Financial advisers at the Kobeissi Letter warned that this is nothing unusual.
“Comments like these are reminders that many consumers are struggling. As household excess savings are depleted, consumers are increasingly relying on debt,” they added.
“Inflation is still a major issue for consumers,” they said.
Comments like these are reminders that many consumers are struggling.
As household excess savings are depleted, consumers are increasingly relying on debt.
Inflation is still a major issue for consumers.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) November 16, 2023
Joe Biden’s claims that his Bidenomics is “working” are all lies.
We have still not seen the worst of Bidenomics.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with iPatriot
Related:
- The Middle Class Is Working Harder Than Ever, But It Is Being Absolutely Eviscerated By Bidenomics
- Bidenomics Is Taking Its Toll On Biden 2024
- Biden’s White House Press Chief Blurts Out Biggest Lie about Bidenomics Yet (Video)
- Proof That Bidenomics Has Been A Catastrophic Failure
- An Open Letter To Joe Biden: The American People Are Absolutely Sick And Tired Of “Bidenomics”
Turn your back on Big Tech oligarchs and join the New Resistance NOW! Facebook, Google, and other members of the Silicon Valley Axis of Evil are now doing everything they can to deliberately silence conservative content online, so please be sure to check out our MeWe page here, check us out at ProAmerica Only and follow us at Parler, SocialCross, Speak Your Mind Here, and Gab. You can also follow us on Truth Social here, Twitter at @co_firing_line, and at the social media site set up by members of Team Trump, GETTR.
Give a middle finger to unaccountable global censors and big tech fascists. Bookmark this site, sign up for our newsletter, and check back often.
While you’re at it, be sure to check out our friends at Whatfinger News, the Internet’s conservative front-page founded by ex-military!
And be sure to check out our friends at Trending Views:
