As a follow-up to a recent post, consider the following two articles.
McDonalds Provides Proof Of How The U.S. Economy Is Really Doing?
It's time to clear the smoke and forget the comments about seasonal adjustments and stop the rhetoric and lies we get from the administration which focuses on the glowing recovery from the 1%. As for everyone else they can't even afford a dollar meal. The proof? McDonalds same store sales for the last month, July, cratered by 2.5%, far worse than the 1.1% expected and driven by a 7.3% collapse in Asian sales, but the number we focus on, US comp store sales, was a devastating 3.2%, on par with the worst decline in history, and the 9th consecutive month in which McDonalds has not posted an increase in US same store sales. For the full story read McDonalds.
The Rich Get Richer
In a recent Bloomberg article, we learn that a new wealth gap is opening among U.S. corporations. Eighteen American businesses held 36 percent of corporate wealth in 2013, up from 27 percent in 2009, according to a report from Standard & Poor’s, a credit rating firm in New York. The bottom 80 percent have lost ground, with just 11 percent. For the complete article read The Rich Get Richer.
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