Something I have been trying to work out on my
blog that I would like to get some feedback on...
The report on retail sales was released today and it has some interesting information.
Most notably Tiffanys had much better than expected earnings, Walmart managed earnings that were in line with expectations -- but only by sacrificing profit, and both Target and Kohls had lower than expected earnings.
Now, translate this information into the people who shop at these locations. People who normally shop at Tiffanys are doing great, that is presumably the rich (however you define that term). The people who normally shop at Target or Kohls (presumably the middle class) are hurting. In fact, it is so bad that even Walmart is forced to reduce its prices so people can afford to shop there.
I think this plays into the idea that General Clark is trying get out with his tax cuts (and Governor Dean's tax cuts are supposed to be similar). The rich are doing great, the middle class and working poor are suffering.
If I were the Democratic nominee I would carry Tiffany's annual report with me on the campaign trail and use it as a prop to show who Bush is worried about helping...
Thoughts?