In the meantime, here is the excerpt about the "jobless consumer":
There’s no such thing as a jobless consumer
Modern Economics' most fatal construct has to be the fabrication of the jobless consumer. In a nutshell, when jobs go overseas, “consumers” benefit. Just as long as it’s someone else’s job and never one’s own. A textbook assumption. It’s a fabrication that only a PhD Nobel Laureate could love - of the same ilk that nearly imploded the Global Financial system in 1998 via their 1000x leveraged LTCM hedge fund. Unfortunately, every single Free Trade agreement is predicated upon the advantages of the jobless consumer. Who this fictional entity actually embodies is someone who used to have a well-paying job, but who now works at Home Depot for $9/hour and is leveraged to 400% of household income. The retraining of 50 year old Coal Miners to become IPhone app developers just never seems to happen the way it’s seamlessly described by apologists of the status quo i.e. the ones who still have their high paying jobs. 2012 Presidential Candidate Mitt Romney summed up the jobless consumer as the “47% of Americans who live off the government”. He should know, since he laid off thousands of them himself while working at vulture capital firm, Bain Capital. That keen observation only cost him the election.
Where was I...here are the last handful of brick and mortar retail stocks i.e. dollar stores that until today had not imploded...
Dollar General:
Dollar Tree:
In Jim Cramer's view, the latent implosion of dollar stores is bullish, because what else could it be? In his dim witted view it means that jobless consumers are trading up to Coach handbags. Except we know they're not...
Only the company with the smallest profits to go...
