Status of various things

[altivo]

Oil down $4 to under $50? Incredible. They say demand is off so much that the price just keeps dropping. Also incredible. I just bought gas for $1.95/gal and I honestly don't remember the last time it was below $2 around here. Certainly it's been at least three years. The rate of drop is more amazing, and in my entire life I've never seen anything

Comments

[altivo]

I wish it were so simple, I'd certainly agree with burning CEOs at the stake. And that's a big one, coming from me. But these jerks are the ones who really made this effing mess, and they aren't really feeling at at all except maybe that they'll have to let one or two household servants go.

I think any "bailout" to private industry should absolutely require an advance plan of how every penny will be spent, and accountability to prove that it was really spent that way. It should also require replacement of all the top management and board of directors, and NO golden parachutes.

The trouble with Walmart is that they're part of the problem. They don't pay employees a decent wage, they don't give them full time work because then they'd have to also pay for some benefits, like a minimal health care plan and a few days of paid vacation, and most of what they sell is produced cheaply overseas. When we buy from Walmart we are simply paying interest on our own captivity. Unfortunately, in towns like Harvard where they've already run all the locals out of business, there's no option unless you drive twenty miles to another town that still has other retailers. When gas was $4 and up, no one was driving any more than they absolutely had to, so Walmart got even fatter. They admit it themselves. However, the economy they helped to bust by encouraging people to borrow and spend but not giving anything back is now ready to bite them in the ass too. This is shaping up to be a dismal holiday season for retailers.