| Sunday, October 5, 2003 |
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Flypaper Follies I missed this last week, when it ran, but Phil Carter's Intel Dump weblog, as part of a longer post outlined four reasons why the "flypaper" strategy--beloved of idiots--actually helps Al Qaeda survive.
(1) First, this strategy, helps Al Qaeda raise money . The American occupation of Iraq inflames Arab opinion. It will help Al Qaeda raise money from moderate and radical Arabs for charitable and terroristic operations -- money which is fungible and highly moveable between the two operations. Furthermore, our war in Iraq will increase Al Qaeda's ability to recruit sympathetic persons around the world who are willing to move money around the world through the hawala system or other informal means. So we now know that the flypaper fools not only advocate throwing away American lives, but that their plan strengthens the enemy in the process.
Good thing the GOP is in charge of national security. |
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Tax Cuts and Wal-Mart Today, The Blade printed an aritcle on how affects of the tax cut aren't showing up at Wal-Mart. The article shows how the tax cuts aren't helping consumers at the lower- and middle- end of income spectrum. The Blade got the article from Bloomberg News, and I can't find it anywhere on-line--I assume that it is proprietary Bloomberg content. Because of its size, Wal-Mart's sale are closely monitored by economists, including those who work for the Federal Reserve. Wal-Mart not only accounts for 9% of all US retail sales, but its shoppers income level is also close to the median income of all US households.
The initial evidence: The tax cut won't spark a spending boom. The demographics of a Wal-Mart shopper are important here. 60% of Americans with household incomes between $24,000 to #36,000 have shopped at Wal-Mart recently. But only one-quarter of those making above $75,000 have shopped at Wal-Mart over the same period. So the sales at Wal-Mart are a decent indicator of how the tax cuts are stimulating consumer spending.
Wal-Mart shoppers this year are buying the lowest-price merchandise, including 25-cent Kids Connection sodas and $5.88 second-run DVDs. When Wal-Mart cut prices by 8 cents on Uniilever's Suave shampoo to 88 cents, purchases jumped 25 percent 12:53:39 PM |