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Notes on the US social crisis

http://economiccrisis.us/2011/07/notes-social-crisis/

 

Citing high fuel prices and worsening financial distress among the working poor, dollar stores reported lower-than-expected quarterly earnings last week. For largely the same reasons, Dollar General, Dollar Tree, and Family Dollar previously saw gains in revenue with the onset of the economic crisis.

Family Dollar spokesman Josh Braverman told the Wall Street Journal that the store’s customer base of families earning less than $40,000 has expanded to include households making up to $70,000. At the same time, the Journal noted, “their price-sensitive customers, pummeled by high unemployment, stagnant wages and soaring gasoline prices, are buying more food and other basics like cleaning products, which have relatively low profit margins, and fewer higher-margin discretionary products, such as apparel and home decorative items.”

Toys, clothing, and other items from the winter remain unsold on shelves, and summer items have failed to sell well even with deep discounts.
Profits soar for pawn shops, predatory lending companies

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