Sunday, July 1, 2012

US Ghetto Culture and Growth Industries

Food Stamp Nation
Over one in seven Americans are now using Food stamps.  And, as the government runs $1+ Trillion deficits for the 4th year in a row, the government is running ads to get more people enrolled in the program.  The cost of this program alone is some $80 billion per annum and rising rapidly.

According to CNN Money, the USDA is running ads to encourage more enrollment of eligible people. There are some 46 million people on this supplemental assistance program up from 27 million in 2007.  Obviously the ongoing recessionary conditions are hurting the poor more than anyone else--as is always the case.

WalMart's Gain
From Mike Krieger at Zero Hedge, reports that from 25 to 40% of some of WalMart's store revenue come from the Food Stamp program. Not surprisingly then, as Food Stamp and Social Security disability rolls continue to rocket higher (more on Social Security Disability in an upcoming blog), WalMart stock is up 14% this year to date. Welcome to one of the few growth businesses in America!

I've been in plenty of WalMarts and I've wondered many times if I'm in a 3rd world country.  I alternate between feeling if I'm in West Africa, in Central America or in Mexico.   Or did the prison buses just arrive?   I'm not wrong about the criminals either.  I know two people who have been assaulted in WalMart parking lots.

Ghetto Culture
As if you needed further reminder of the US Ghetto culture, Mike Krieger also notes the Corrections Corp of America stock price is up 41% this year! The ticker symbol is CXW. Now, that's a great stock! I wished I owned it!

Obviously they build and operate prisons. I'm sure they will help to incarcerate a large number of those 3rd world nationals frequenting WalMart and spending Food Stamp money.

So, there you have it.  America's growth industries are prisons and businesses who benefit from Food Stamp money!   I guess you could add gambling casinos, marijuana production, and lotteries as US "growth" industries to complete the picture of increasing US cultural decay.

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