Tweet
Matt Lauer interviewed Mike Duke on the Today Show on April 15th:
"In talking to our customers all around the country, there is still a lot of stress."
http://blogs.barrons.com/stockstowat...umer-spending/
In an interview on the Today ShowMike Duke of Wal-Mart described the customers he’s spoken to at company stores as evidencing ”a lot of stress,” and suggested that, contrary to conventional economics wisdom, spending won’t turn until labor conditions start to improve.
Duke said customers have been spending on items like home theaters and game systems, but apparently at the expense of out-of-home entertainment and vacations. Given fears about unemployment levels, which have surged to a 26-year high in the first quarter of this year, Duke said he didn’t expect to see anything like a V-shaped recovery in the U.S. economy.
"In talking to our customers all around the country, there is still a lot of stress."
Visit msnbc.com for Breaking News, World News, and News about the Economy
http://blogs.barrons.com/stockstowat...umer-spending/
In an interview on the Today ShowMike Duke of Wal-Mart described the customers he’s spoken to at company stores as evidencing ”a lot of stress,” and suggested that, contrary to conventional economics wisdom, spending won’t turn until labor conditions start to improve.
Duke said customers have been spending on items like home theaters and game systems, but apparently at the expense of out-of-home entertainment and vacations. Given fears about unemployment levels, which have surged to a 26-year high in the first quarter of this year, Duke said he didn’t expect to see anything like a V-shaped recovery in the U.S. economy.